Protherics Share Discussion Threads

[devbod] 11/9/2008 15:28

> AZ will again go back to sit and wait

*if* AZ are involved then I doubt they'll wait. Phase II Cytofab results due end of the year which AZ are running. Assuming they are going well (and I doubt AZ would be interested if not) then any buyer will have to move before then to avoid a higher price.

[the_doctor] 11/9/2008 15:12

kmjs, they may have done.
Initial cheeky approach... that forces AZ to state an interest.
If the cheeky approach comes to nothing, AZ will again go back to sit and wait.

[kmjs] 11/9/2008 15:04

Doc

They haven't received one "cheeky approach" though have they?

From the 13 Aug. RNS they "received approaches from a number of parties
interested in acquiring Protherics". I agree that it does not mean a bid is
guaranteed, but IMO there is more chance of one, because of the multiple
approach.

[devbod] 11/9/2008 14:32

Market doesnt seem to agree with our optimism, share price has been steadily falling albeit on low volume. Institutions (pru/std life) are still buying but they seem to be outweighed by the traders.

[the_doctor] 11/9/2008 14:13

no, because no offer has benn made yet
it could well just have been a cheeky approach
they could announce no offer to be made and this will be back to 30p
Or... an bid from 60p-100p could come in... with below 80p or so being rejected outright

martinfrench - 11 Sep'08 - 11:52 - 8135 of 8139
at 65p it will be rejected and would have been already

[devbod] 11/9/2008 14:10

What bothers me is the directors awarding themselves all those options at 2p. Any deal will give them compensation for their loss so a sale at the current share price still writes them a healthy cheque.

[rayrac] 11/9/2008 13:38

Golly1980

I think you miss the point, the sheep technology isn't something the generics want the bother of, ie, not so much the value, but its stopping power!

Pharma's would be able to handle it.

Anyway, the Pru buys another 100,000.

[martinfrench] 11/9/2008 12:52

sorry that should have read you CANT have takeovers based on.....i'm sure u see the point

[bobby.ifa] 11/9/2008 12:30

Forgive the bluntness Martin, but how do you know that?

[martinfrench] 11/9/2008 11:52

at 65p it will be rejected and would have been already, so must be higher.

[golly1980] 11/9/2008 10:43

DEV,

the sheep technology as you call it is in use by 2 other company's, they may not be using the exact process but it is very close so that is not worth a massive amount. CROFAB is worth a few quid but not enought to turn the head of any of the big boys. DIGIFAB as it is used now is not a massive earner but the pre-eclampsia use would be a big earner. PTI has a lot of pipline products but atleast 50% of these will fail as that is the nature of the beast.
CYTOFAB, there's your big one and as it is such an old project I think this is the banker. PTI and it's other company's have worked on this for a long time so they would not be pushing it so hard if they didn't really belive in it.

Before the credit crunch I would have been looking for £1 but as things are today i think 65-75p is what were looking at (i hope i'm wrong).

Golly

[devbod] 11/9/2008 10:27

I'm surprised its been so quiet on the news front after the initial leak. Was expecting articles quoting 'sources' much like the skyepharma deal.

If its a cash offer I'm still holding to my 'not less than 65p' based on the last rights/placing price. If it is cash then AZN have to be the obvious candidate. In addition to avoiding all the royalty/milestone payments they get the 'sheep' technology. I'm in no position to value that but when Protherics patent protection was discussed the method of maufacture gave generics a significant barrier to entry.

The terms of a share offer are anyones guess. As the potential returns on PTIs pipeline are retained to some degree (and presumably others added) it will all depend on the proposed partner.

Either way there are large institutional holdings so they'll be making the decision.

[fhmktg] 11/9/2008 10:09

GSK announced an investment in Cromocell for anti-inflammatories - is this the start of the post holiday announcements?

AZN for PTI anybody?

Views on realistic take out price welcome!

[rayrac] 10/9/2008 14:35

Can't make head nor tail of the announcements...and I bet I'm not the only one!

[superbarnet] 10/9/2008 11:57

Nomura selling under 50p is not reassuring.

[bobby.ifa] 10/9/2008 11:07

Announcement made re rule 8.3

[fhmktg] 10/9/2008 11:04

Little volume, 4% rise - announcement coming?
Sounds leaky to me!

[golly1980] 10/9/2008 09:56

i personaly hope the offer is pathetic and it gets refused but lets be honest if you were buying and you were going to get a good deal there isn't a much better time than this to buy.

[mre] 10/9/2008 09:36

Of course the bid (if any) may not be all cash.

[johnac] 09/9/2008 15:28

It can only be a guess, so my view is an offer circa 75p in a couple of weeks, subject to due dilligence.

Sad really, but the world is run by accountants, dealers and motivated by self interest. Hang on the latter applies to me !

I hope there is no takeover and PTI shares are allowed to reach their full potential in the fullness of time.

Regards

Johnac

[greekman] 09/9/2008 13:46

Hi Golly/Mre,

It may be worth looking at the Takeover Panels rules and regulations, although like most such austere bodies they are just a bit clearer than mud,(although clearer than most).
No doubt any company will need to look at the books re due diligence, but I would have thought that any serious bidder would have done so by now.
On that basis I am hoping for a firm offer within the next week.
No doubt the share price will be the first indication, as occurred jst prior to the first news release of a possible takeover.
As I read it the 2 months does start from that first firm bid.
I would appreciate any other take on the rules/regs.

[mre] 09/9/2008 13:12

Golly1980, the 2 months referred to by Greekman apparently starts when a firm bid is offered so, assuming there has been no firm bid yet, there's no limit on time as yet.

[golly1980] 09/9/2008 12:24

If they've got 8 weeks to finalise an offer it seems they are cutting it a bit fine. I might do thing's different to anybody else but if i'm buying something i always go in low and go up, i'd imagine that any serious bidder would do something similar or do they plan for the first offer to be refused and have a second offer ready?

[mre] 09/9/2008 10:33

It's only 4 weeks tomorrow since the news broke - not that long really.