"I'm surprised BTA didn't face takeover when the price was below a buck"
Two reasons:
There could have been a clause in the initial contract that prohibited a takeover of BTA.
Shareholders could have taken GSK to court alleging deliberate poor marketing of relenza in order to lower the sp thereby permitting a cheap takeover of BTA.
Given that BTA will be generating huge amounts of cash in the next couple of years from relenza and LANI, any company could afford to pay 50% - 100% above the current sp knowing that they could repay the majority of takeover costs in less than 2 years.
M
BTA Price at posting:
$2.95 Sentiment: Buy Disclosure: Held
