Biocompatibles Share Discussion Threads

[tratante] 26/1/2011 15:08

hear hear Spyder!

[spyder] 26/1/2011 06:43

Goodbye BII ....
I believe that today is the last day of dealings for BII, it is a sad day in many respects, but one that has come about as a result of good news.
I see that the shares are up 74% year on year, not a bad result to say the least.
I have been with these shares since 1995 and what a wild ride it has been, scaling the peaks above £14 and depths of 70p, but I am pleased to have settled at £4 with a significant amount of cash back along the way and even a couple of dividends.
There are very few biotech / medtech companies that can compare to BII with the vast majority performing like dogs, and believe me I know as at one time or another I have held a few of them!
Investing in shares is a never ending learning curve, but the one thing the BII has taught me is to stick with sensible, reliable, intelligent and consistent management and avoid overenthusiastic, unrealistic management that seem to move through the sector as if on a conveyor belt, destroying shareholder value as they pass through.
Hats off to CS and IA in particular for keeping BII on the straight and narrow path to success which has happily / sadly but inevitably lead us into the arms of another.

[tratante] 08/12/2010 09:42

Think its just tracking btg share price

[fenners66] 07/12/2010 19:37

Any rumours of a counter bid?
Share price rising again ?

[fieldhouse] 30/11/2010 11:43

BTG seem to have taken a hammering since the announcement.Deal does not look so good now.!!
We need the market and sentiment to change to reap any rewards.
Director sell was the right move.!!
£4.3 should be the total takeover price on the day of the deal.
£3.7 looks a bit cheap

[tratante] 21/11/2010 22:45

What are the arguments for holding on to the BTG shares, don't know much about them?

[baronet 1] 21/11/2010 18:46

In furtherance of the above :-

Questor share tip: --- Take up BTG's offer for Biocompatibles


Questor recommended buying shares in Biocompatibles because it was a very unusual beast – a biotechnology company that was profitable and paying a dividend. Now BTG want to buy the company.

By Garry White 7:00AM GMT 21 Nov 2010 Comments

Biocompatibles
391p

Questor says TAKE UP OFFER

On Friday, it was revealed that BTG, the maker of an experimental varicose vein treatment called Varisolve, had agreed to buy the company. The company offered 1.6733 new BTG shares and 10p in cash for each share in Biocompatibles.

The announcement valued this offer at 430p a share, but BTG shares moved lower after the announcement and, based on BTG's closing price on Friday, this values the offer at 397½p.

The deal will expand BTG's commercial infrastructure in the US and gives it access to Biocompaibles' major product – "drug-eluting bead technology" –which can be implanted in the body to block blood supply to areas of disease, and can be used to deliver drugs to a specific organ or tissue.

Biocompatibles shares were recommended at 270p on September 16 this year and the bid values the shares 47pc above this level.

Questor recommends that investors take up the offer from BTG and will give a view on the prospects for BTG shares at a later date.


JB

[spyder] 21/11/2010 18:40

I think this is an excellent deal for both BII and BTG shareholders, it looks like one of those rare win-win situations to me.
The market appeared to warm to the idea later in the day on Friday with the share prices ticking up in tandem.
Questor in the Sunday Telegraph today recommends that BII shareholders take-up the BTG shares, presumably rather than selling in the market.
I think the CVN option is a brilliant idea and I will certainly be electing for it rather than the cash, if nothing else, just for a bit of fun and the sentimental value of holding on to the last piece of BII (even if it was from Cellmed!)
In response to the Q above about what will happen to BII's directors, reading the announcement, it gives the impression that the CEO and FD will only have a short term contract with BTG in order to facilitate a smooth transition. If this is the case, that would be a great shame in my opinion as both have contributed to the exceptionally well managed product portfolio development and the prudent fiscal management of BII and would be an asset to any business.
I think with >50% irrevocable undertakings from BII shareholders, a counter bid is extremely unlikely if not impossible, but I suspect if there was anyone else interested, they would already have made their presence known, they have had plenty of notice after all!
I will be very sad to see the old BII go however.
spyder

[bargainbob] 20/11/2010 13:51

aPAD

Hope they do more promise in BTG on its own with less dilution.

[baronet 1] 20/11/2010 13:47

Then you should have sold your shares on Friday as you've got a very good price in my view and I do not think AZN will be coming at all.


JB

[apad] 20/11/2010 13:23

Indeed!


Counter bid from AZN please.

Don't want dodgy paper. Want money.

[tratante] 19/11/2010 21:27

"stent specialist"! someone is a bit behind the times with what this business is all about.

[waterloo01] 19/11/2010 15:47

14:02, Friday 19 November 2010
LONDON (ShareCast) - KBC (038460.KQ - news) is impressed with BTG (LSE: BGC.L - news) 's latest acquisition, as it foresees some exposure in emerging markets for the UK drugs group.

The acquisition of stent specialist Biocompatibles (BII) is expected to bring in a £36m revenue stream, a significant cash position of £33m and an underlying profitable business (BII reported a £1.2m net profit at interims).

Cuddon says that the potential synergies, increased critical mass in the US and the diabetes program partnered with AstraZeneca (LSE: AZN.L - news) is likely to see its valuation rise to outperform "our blue sky target of 600p on a three-year view".

For now, the broker recommends 'buy' with a target price of 312p.

[tratante] 19/11/2010 14:18

isn't there going to have to be an adjustment in BTG share price to account for the shares issued for the BII shares? Won't that push BTG share price down in short term?

I don't think BTG holders should be unhappy, they are getting an excellent company in the form of BII.

I don't know much about BTG not sure whether to hold or sell. What do people think?

[gnnmartin] 19/11/2010 11:08

BTG shareholders don't seem very enthusiastic about the deal.
Nigel Martin

[graham142] 19/11/2010 10:31

I sold the ones I bought in May for a takeover play this morning but will retain my core holding, aquired when they dropped from selling the eye business.
Need another one now.....

[apad] 19/11/2010 10:25

They bought my Protherics, now they are buying my BII!

I don't like these managementy type peoples - spending their shareholders funds buying my nice companies that are doing what they are good at.

I guess I'm looking for the next company they will overpay for.

Any ideas people?

Must be making a profit and growing cash.

I'm moving my funds into ABC - pricey, but comfortable.

[kinmar] 19/11/2010 10:15

It looks to me like it is a done deal with 51% acceptance from BII and 41% support of BTG shareholders.

I am particularly intersted in two aspects:-

a) which of the current management will retain a similar position in the enlarged BTG, and
b) whether one should seriously consider the alternative CVN for the 10p per share.

Any thoughts anyone?

[waterloo01] 19/11/2010 09:46

fyi - Before deal announced.

Nov 18th 2010 ----

Edison Investment Research today published a report on BTG (BGC.L, LSE:BGC, LON:BGC)

entitled "Strategy Pays Off". In summary, the report says:

BTG has evolved into a UK-based biopharma firm with a US marketing operation whose predictable revenue stream allows it to fund an ambitious Phase III trial programme for Varisolve. Specific catalysts associated with partnered R&D programmes - notably Campath, abiraterone, otelixizumab and CytoFab - are likely drivers of investment sentiment in the near term. H1 results highlight BTG's solid financials and we have updated its fair value to 380p per share.

[tratante] 19/11/2010 09:40

Not sure what to make of this. Thoughts anyone?

[scrapheap] 19/11/2010 08:06

I used to hold these a long time ago...

Being bought by BTG per the RNS this morning!

[tratante] 12/11/2010 16:57

That does sound logical, but why have Nomura been appointed relatively late in the day, is it possible Terumo came in after the initial bid, or would BII have had to make a statement informing the market if that had happened.

[tctmeeting] 12/11/2010 14:22

With Nomura appointed it is possible a Japanese company is the interested party. Should that be the case my money is on Terumo who already have a relationship with BII.