A minor loss in Q3 is very fortuitous timing in the overall takeover offer and evaluation of whether it is fair and reasonable.
There is nothing in the Q3 UNAUDITED sales and profit numbers to change my mind that Mayne Pharma is worth about $13 per share. The offer price of $7.40 is totally inadequate in my opinion.
The ability to acquire Twyneo and Epsolay and integrate these two new products into the unique Mayne Pharma direct to customer distribution channel highlights just how successful Mayne's has been in establishing direct to customer and bypassing the notorious gross margin destroying Pharmacy Benefit Managers. This unique market approach works and is highly valuable to any buyer of the Mayne Pharma business.
I will be voting NO.
MYX Price at posting:
$7.04 Sentiment: Buy Disclosure: Held
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