I got a call back from the ceo earlier today regarding my queries the other day and he never gave me the impression that anything was going wrong , in fact he was quite positive that the cephalon bidders statement would be supportive of the bid . Look around 65% (cephalon+directors+orbis) are supporting the bid as indicated by the ceo and whoever has been buying up to 15% on market since the bid announcement would also support the bid so that puts the possible yes bid up around 80%, whoever sold today may need the funds elsewhere after all the market has dropped recently.Let's face it who wouldnt support the bid considering all your directors and major shareholders want out . After all who is going to fund FDA approval and a sales force until sales come through.
CXS Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held