perfect storm

Cephalon is committed to the takeover of Chemgenex no matter who takes over Cephalon but this opens the door for a higher bid for Chemgenex as who ever buys Cephalon may not want Chemgenex and will off load to a higher bidder.

Valeant last night listed Chemgenex as an asset of Cephalon but it wasnt keen on keeping the oncology assets of Cephalon so its possible Chemgenex will be sold to a higher bidder than the current 70c bid.