|
|
|
|
||
At this point, I'll be surprised if a buyout takes placeThe leak has led to analysts and financial press defining the parameters of the deal and I don't see a deal where both sides look good. Not a good thing. Citi's Robyn set the high at $112 a share because "that is what Kite got." (sophisticated analysis, Robyn), so unless Juno gets $10 Billion plus, they look bad. Jeffries Yee and others set a good "incremental positive" deal at around $8 Billion, so if Celgene pays more, they look profligate/bad/desperate. The only "win/win deal I see is Celgene taking another 20% to up its stake to 30% for maybe 20% above Juno's pre rumor 2017 high - somewhere around $75-$85 a share. Celgene re-affirms it belief in the collaboration at a cost a bit less than its initial buy and gets a larger share of future profits, etc.. Juno gets a solid premium for 20% of the company to fund expansion from an existing partner that enhances its expertise and resources. All conjecture, but assuming talks are in progress - and a denial would have been issued by now, if not - the leak queered any sensible negotiation, IMO. If correct, I would look for an announcement Monday/Tuesday regarding exploratory talks concluded with deal or an agreement upping the stake. This chapter in Celgene's life needs to be closed. And the sooner, the better. |
return to message board, top of board |
Msg # | Subject | Author | Recs | Date Posted |
215622 | Re: At this point, I'll be surprised if a buyout takes place | euge228 | 3 | 1/18/2018 6:24:46 PM |
215694 | Re: At this point, I'll be surprised if a buyout takes place | Doolen | 4 | 1/22/2018 7:54:07 AM |