Hepatitis C
CTQWERTY
And the big winner in today's trading was INHX.
"Inhibitex Inc. (NASDAQ: INHX) surged 141.7 percent to $23.86 after Bristol-Myers Squibb Co. (NYSE:BMY) agreed to acquire the hepatitis C drug developer for about $2.5 billion, or $26.00 per share in cash. The purchase price represents a 163 percent premium to Inhibitex's closing price of $9.87 on Friday." http://www.newsystocks.com/news/4108189
Must be some type of breakthrough drug to treat Hep C. And the proof positive it's a big one: lawyers sniffing around already as to whether the deal is enough of a premium:
"press release
Jan. 9, 2012, 1:10 p.m. EST
Harwood Feffer LLP Announces Investigation of Inhibitex, Inc.
NEW YORK, Jan 09, 2012 (BUSINESS WIRE) -- Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of Inhibitex, Inc. ("Inhibitex" or the "Company") /quotes/zigman/92379/quotes/nls/inhx INHX -0.13% concerning the proposed acquisition of the Company by Bristol-Myers Squib Co. ("Bristol-Myers") in a transaction valued at approximately $2.5 billion.
On January 7, 2012, Inhibitex announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Bristol-Myers. Under the terms of the agreement, Bristol-Myers will commence a tender offer that would pay holders of Inhibitex shares $26.00 per share in cash.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Inhibitex, disclosing all material benefits and costs and obtaining full and fair consideration for Inhibitex shareholders."
http://www.marketwatch.com/story/harwood…
Hep C: http://en.wikipedia.org/wiki/Hepatitis_C
"Inhibitex Inc. (NASDAQ: INHX) surged 141.7 percent to $23.86 after Bristol-Myers Squibb Co. (NYSE:BMY) agreed to acquire the hepatitis C drug developer for about $2.5 billion, or $26.00 per share in cash. The purchase price represents a 163 percent premium to Inhibitex's closing price of $9.87 on Friday." http://www.newsystocks.com/news/4108189
Must be some type of breakthrough drug to treat Hep C. And the proof positive it's a big one: lawyers sniffing around already as to whether the deal is enough of a premium:
"press release
Jan. 9, 2012, 1:10 p.m. EST
Harwood Feffer LLP Announces Investigation of Inhibitex, Inc.
NEW YORK, Jan 09, 2012 (BUSINESS WIRE) -- Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of Inhibitex, Inc. ("Inhibitex" or the "Company") /quotes/zigman/92379/quotes/nls/inhx INHX -0.13% concerning the proposed acquisition of the Company by Bristol-Myers Squib Co. ("Bristol-Myers") in a transaction valued at approximately $2.5 billion.
On January 7, 2012, Inhibitex announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Bristol-Myers. Under the terms of the agreement, Bristol-Myers will commence a tender offer that would pay holders of Inhibitex shares $26.00 per share in cash.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Inhibitex, disclosing all material benefits and costs and obtaining full and fair consideration for Inhibitex shareholders."
http://www.marketwatch.com/story/harwood…
Hep C: http://en.wikipedia.org/wiki/Hepatitis_C
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