I like your style Eel. You don't see too many s.661E...

I like your style Eel. You don't see too many s.661E applications these days. They can get pretty expensive and don't have a good hit rate. Note that the onus is on the applicant to prove that the bid consideration is not fair value. To prove this you would need a more than Dr Randerson's "back of the envelope" calcs -- something closer to Deloitte's valuation for the Evogenix / Peptech merger would be required. It's not like you could compel Arana or Cephalon to commission an independent valuation (or pay for it). But it could be worth a shot if you could get a big enough "Coalition of True Believers" and pass the hat around...