I agree with your sentiments on that and it is partly why I bought in recently for the first time. I really liked what BMS did with Nektar and was excited when I remembered VLA IO exposure.
My point with the no bid is simply that the stock price would have languished for a while until some results came out to give it positive momentum.
The market has had ample opportunity to assess who much value Nektar has for BMS, yet they did not draw a similar distinction until now. Merck of course know there own backyard and they will likely lift their bid should circumstances force them to do so.
VLA Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
