Classic Vulture bid.
Share price gets wacked down to 62 cents, and suddenly a saviour bid from Merck.
And this BOD can't see this!
A counter proposal with a milestone payment for an FDA approval, and a small royalty is the minimum they should have negotiated for us the shareholders.
Of course since this is structured as a takeover and subsidiary status, guess who gets paid his ridiculous salary after the buy-out... the CEO McColl, for who knows how long.... and he gets to cash in the recently wildly under-priced options we gave him based on the share price destruction he presided over the last year.
We are months away from multiple trial results! Why now?
BOD are incompetent, tell them what you think of a deal that doesn't include milestones for FDA success and a minimum royalty. THAT IS THE BASIC TYPE OF DEAL THAT GETS DONE IN BIOTECHNOLOGY!
Merck is laughing their faces off at how easy this was.
SUCKS!
With any luck, GSK will see this ridiculous purchase price and up the bid.
Unlikely but you never know.
VLA Price at posting:
$1.68 Sentiment: Hold Disclosure: Held
