re: Ann: Cephaon International t/o offer now ...
Good chance they will extend the offer past 1 June, but no guarantee.
As for what the share price will do if the offer closes, my best is "down" based on past takeovers -- but no one really knows. Anyone who says they do know is naive or lying.
Cephalon's intentions if they get control but less than 90% are set out in the Bidder's Statement. I don't know for sure but I expect they will want to develop 621 to approval rather than out-licence it. On the one hand, this should be good for continuing shareholders as AAH will capture all the value; on the other hand, it will probably require a capital raising, so you may be asked to tip in some more money.
AAH Price at posting:
$1.37 Sentiment: Sell Disclosure: Held
