Btg Share Discussion Threads

[fhmktg] 17/1/2019 13:38

No, it just means that btg and Boston can share information both ways to expedite the legal efforts.

[spyder] 17/1/2019 11:54

Does today’s new NDA make it more difficult for another bidder to step in?

[fhmktg] 17/1/2019 11:11

Another step in the process with today's announcement.Full offer document next.

[spyder] 14/1/2019 19:04

I'm less convinced BB, but ever hopeful.

[bargainbob] 14/1/2019 18:55

Thanks Spyder. I have a feeling someone else will come into bid.

[spyder] 14/1/2019 18:50

Hi BB
I think it is extremely unlikely that another bidder will surface until after BSX have published the Offer Document which is due by 31 January unless BSX request a second extension, but I can see no reason why this would be required.

IF there was someone else interested in BTG, a bidder would want to see the full details of the BSX offer before going public with their interest, so I think that the most likely window will be between the Offer document being published and the first deadline.


However, IF anyone else was interested, they will have a battle on their hands as BSX speaks very highly of BTG. Here are some interesting snippets from the Boston Scientific presentation at the JP Morgan Healthcare Conference, the CEO made the following comments about BTG:

“we have Varithena coming …”

“we are very excited about this company, this is one we analysed in depth for close to a year before we finally come(sic) to agreement with BTG … amazing synergies … will deliver significant shareholder value … this is an ideal, I hate to say, a perfect fit for our PI business”

“it hasn’t closed yet so … upon closing the gem in that is the interventional business … Therasphere is probably the biggest gem within the entire platform … unique differentiation … China represents the largest market opportunity in the world and there are zero sales there today …. Upon closing we will be able to discuss more our plans for China but clearly there are no sales represented with BTG today and represents a significant opportunity, we have a lot of capability in that market.”

“Tuck-in acquisitions … our capability in … therapeutic cancer is quite unique and we a building a sizeable business there post closing BTG”

It seems clear that BSX are VERY KEEN on BTG, if only another company recognised the value there too …?

[bargainbob] 14/1/2019 13:47

The time is about right if a second bidder is going to come forward imho.

[fhmktg] 03/1/2019 23:36

That makes two of us!

[fhmktg] 03/1/2019 14:50

From all the trading reports coming in each day, can anybody discern whether sentiment is expecting a counter bid emerging, or simply trading on the daily swings and roundabouts?

[bargainbob] 24/12/2018 15:04

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[spyder] 21/12/2018 18:13

A couple of interesting snippets for the weekend:
In addition to the 16,200,000 BTG Shares that Woodford sold to Sand Grove Capital Management, Woodford has also sold 3,000,000 BTG Shares to Arrowgrass Master Fund Ltd, 526,628 sold to Mygale Event Driven UCITS Fund and 526,628 sold to Melqart Asset Management (UK) Ltd - all 4 funds are event-driven hedge funds, ie they take a position in an M&A stock in the hope of a higher offer.
In addition, UBS has gone from no previous disclosure to holding 6.2%
Presumably, they all think that another offer is a possibility?
Finally, BTG announced today that “French Ministry Of Health And Social Affairs Will Reimburse Therasphere For Patients With Liver Cancer Who Meet Certain Criteria”.

[bargainbob] 21/12/2018 17:15

I 'an it till end of Jan and will cash in some.

[fhmktg] 21/12/2018 15:16

Stupid boy me!

[spyder] 21/12/2018 13:03

Fhmktg - I’ll offer you 250p right now! ;-)

[semper vigilans] 21/12/2018 11:57

840p I hope!

[fhmktg] 21/12/2018 11:56

That's the cash in place, the formal offer document and time table should be next.That should take the share price up closer to the 240p mark and I might be tempted to get the cash in these troubled times......unless another bidder comes on the scene.

[fhmktg] 20/12/2018 23:59

The lady there is making her first big move and she came from the otc side of the business.

[bargainbob] 20/12/2018 19:25

Glaxo interesting news .

[spyder] 17/12/2018 08:59

I’ve just had a look at the slides that BSX used during their presentation on the day the deal was announced, again, well worth a look, go to the Investor Area of the BSX website and under Presentations, look for ‘Call materials for BTG Acquisitions’.
Lots of interesting stuff there, a few stand out points/conclusions:
1) BSX refere to this transaction as being in their ‘Execution Sweert spot - i)Tuck-in acquisition very complementary to BSX PI infrastructure/call point
Ii)Leverages BSX track record and experience with this transaction type
2) I was not aware that BTG was developing a treatment for breast cancer - had I missed that?
3) The valuation proposition of the deal is very compelling, there could be room for some upside in terms of a higher offer.
4) The specialty pharma business will be sold bringing in a good chunk of money, but perhaps not before the Crofab market has settled?
5) Given the content of these slides, any suggestion from posters to this BB that the shares were worth <£4:00 is absolutely laughable.
6) BSX will not want to lose this transaction, but the question is who else might want BTG??

[fhmktg] 17/12/2018 08:15

Let's hope they come out of the shadows then Bob!

[bargainbob] 15/12/2018 20:31

And not the only company Spyder. The weak pound created an ideal point once the last two years of Louise Mishaps were in the price.

[spyder] 15/12/2018 19:55

I’m not sure if there is anyone out there still - have you all sold out?
In case anyone is still interested, I have just read the transcript of of the analysts meeting hosted by BSX relating to the BTG acquisition.
Lots of interesting stuff there, but one stand out comment - “This is a company that we have been tracking for over two years” ...

[spyder] 12/12/2018 09:45

News this morning ...
Things will be going a bit sower than we were expecting.
“BTG and Bidco have agreed to extend the date by which the Scheme Document must be posted to BTG Shareholders to 1 February 2019. The Panel has consented to this extension.”
FWIW I don’t think another bidder will emerge (if at all) until the Scheme Document has been posted.
Another announcement today; “BTG, Boston Scientific and Bidco entered into an amendment to the Co-operation Agreement (the Co-operation Agreement Amendment) to extend the date by which certain regulatory filings must be made in Spain, Germany and other relevant jurisdictions.”;
So progress being made, but it will take time and put distance between where Boston are and another bidder if one were to be interested - less so now I assume.