I suspect there is going to be 'other bidders' and MSD's $1.75...

I suspect there is going to be 'other bidders' and MSD's $1.75 is their 'first go' at it, no one offers 'best price' upfront, especially if you know there may be competitors willing to 'outbid' you...

BMS may be (or have been waiting for the MSD bid to move), and they need it more after the recent 'trial results' weren't impressive at all for their 'in-house flagship combo' (Opdivo & Vervoy), from memory, the BMS/VLA ORR numbers (CA21, Opdivo & Vervoy) are more pronounced than the MSD 'combos' with Keytruda, from like 11% (Vervoy alone) to like 60% with a combo of CA21 & Vervoy...

Have a look @ what happened over @ AWE, 3 offers in 2 mths, all interested, then finally Mitsui offered the 'top' price of $0.95, bids started @ $0.80 from ASX:MIN... MIn offered $0.80 initially, then $0.83, only to be taken down by Mitsui...

I have been hoping for a 'better' offer (> A$2), after 10 years with VLA, and an average BUY of $0.41, I can't complain, but I certainly am not 100% convinced the 'vultures' have all landed as yet, it's just the first swoop...

Time will tell I guess, some is better than none...

Game on..!!

ML