Tuesday, September 8, 2009

Update on Facet-Biogen deal (FACT, BIIB)

AlphaNinja - I wrote the other day that Biogen had become increasingly aggressive in its pursuit of Facet Biotech, with whom they are partnering with on a new drug. Facet today released a statement that was pretty clear -->> they feel the offer significantly undervalues the company, considering that net of $300million in cash on the balance sheet, the offer does not give much value to the company's other assets .

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