important info for shareholders

IMPORTANT INFORMATION FOR SHAREHOLDERS

ONE

Cephalon will need to inform the market of an extension to the offer on the 24th April 2009 IMHO DONT SELL OR SIGN ACCEPTANCES

Based on The Corporations Act 649C Market bids—extending the offer period, section.

(1) The bidder may extend the offer period. The extension must be announced to the relevant financial market at least 5 trading days of the market before the end of the offer period. However, the announcement may be made up to the end of the offer period if during those 5 trading days:
(a) another person lodges with ASIC a bidder’s statement for a takeover bid for securities in the bid class; or
(b) another person announces a takeover bid for securities in the bid class; or
© another person makes offers under a takeover bid for securities in the bid class; or
(d) the consideration for offers under another takeover bid for securities in the bid class is improved.
The offer period is extended by having the extension announced to the relevant financial market.
Note: Section 624 provides for an automatic extension of the bid period in certain circumstances.

TWO

They are struggling to get acceptance signed, regardless of their telemarketing push, regardless of the offer to brokers.
There is every chance of a competing bid or a blocking stake by shareholders not wanting to sell.

THREE

There is every chance that they will need to increase the offer, They will not have complete control at 50.1%.
They will not be able to utilise the cash reserves of the company.
They will have to compete with other Pharmas if they want to commercialise ART621, or for that matter any of the pipeline.

Provided of course that we get members of the board that have the INTERESTS OF THE SHAREHOLDERS FIRST AND UTMOST IN THEIR MINDS.