Protherics Share Discussion Threads

[fhmktg] 13/10/2008 14:03

Note 'extra' buying opportunities.
I would bet that he will be being introduced to execs from those already under consideration and to be meeting with his M&A team in UK/Europe during the week.
Wouldn't surprise me to hear some announcements this week, from what I understand is one of the key annual events.
Whether PTI features, who can tell, but the logic for the tie up seems less attractive at present. Good time for somebody to emerge?

[bargainbob] 10/10/2008 12:30

Yes, I told them it was the cheapest way in to BTG

[fhmktg] 10/10/2008 11:28

Credit suisse buying in - any significance?

[gnnmartin] 07/10/2008 19:27

My guess is that a fair number of people bought into PTI hoping for a cash bid. They just want a return and out, so they are pulling the price down. On the other side, BTG had had a strong run up from 80p to 240p, and there were a lot of people ready to take profits. And in this market, once people start taking profits, you start hitting stop losses, and the share goes on going down.

If PTI and BTG called the whole thing off, I see no reason why PTI shouldn't sink to the price it had before takeover rumours took it up, and then lower still because the market is dire, and nobody like confusion, and anyhow most other things have fallen since then. And again, if PTI and BTG call the whole thing off I don't expect BTG to bounce back. Their bull run has been broken, the domino effect of investors 'protecting profits' (or cutting losses) could well drive the share price further on down. Rational analysis may be trumped by simple fear.
Nigel Martin

[red ninja] 07/10/2008 12:42

BargainBob,

But BTG would be a couple of pence so a reverse takeover would be on....

[bargainbob] 07/10/2008 11:13

If BTG pulled out and they should, PTI would be in the high teens.

[mre] 07/10/2008 11:12

fhmktg, the problem is that we don't know how much is down to overall market sentiment (obviously rock bottom) and how much is specific to BTG/PTI.

[fhmktg] 07/10/2008 09:54

Market seems to be saying 'Think Again'
Lets hope the board(s) are listening!

[fhmktg] 06/10/2008 10:32

Any thoughts on whether both parties might pull the deal until more settled times?

[fhmktg] 01/10/2008 13:14

Seems as though we are moving there bobby!

[bobby.ifa] 01/10/2008 13:10

Going back to my previous post, using the 0.291 multilpe, Protherics should be 42p. Just a thought.

[bodgit] 01/10/2008 11:30

fhmktg, thanks from me too. As a long term shareholder in BTG, I too have been mildly concerned at the short term reduction in share prices for both companies but the long term prospects, as the reply above suggests, looks very promising for us all. Good luck all.

[baronet 1] 01/10/2008 10:58

fhmktg ---

Thanks for the above and you might like to consider posting same on the BTG thread.


JB

[fhmktg] 01/10/2008 10:52

This received this morning from Nick Staples at PTI, in prompt resonse to a query from me as to whether the company was reviewing the merger in light of curret market conditions.

Thank you for your enquiry.



The recommended offer is for a share exchange ratio that gives us a ~40% stake in the combined entity. This ratio was calculated as you know at a share price of 60p for Protherics, almost a 100% premium to where we were trading prior to announcing M&A interest. We believe the merger enhances the prospects for both companies, both financially and in terms of upside and risk mitigation. Both parties approached their major shareholders for their consent to a merger prior to announcement and the share price has fallen since on only relatively small volumes. We believe the focus should be on the stake in the enlarged company at this stage, given the strong rationale for the merger and the volatility in the markets.



Regards

Nick

[bobby.ifa] 30/9/2008 16:10

PTI below the conversion price as BTG are 141.75, on a factor of .291, PTI should be 40.95p. Hmmm, time to buy back in??

[gingerninja69] 30/9/2008 14:54

here's what the local papers are printing in sunny west wales.

Protherics takeover

2:27pm Thursday 25th September 2008

comment Comments (0) Have your say »


ONE of south Ceredigion's biggest employers is being taken over.

Protherics, which employs about 150 people at its pharmaceutical manufacturing plant at Ffostrasol, is being acquired by the life sciences development company BTG.

The merger will create "one of the UK's leading biopharmaceutical companies" according to details released last week.

The take-over, which is supported by the directors of both companies, could be completed by December, although the two organisations will have to put details of the proposals to their shareholders first.

Chairman of BTG, Dr John Brown, said: "This merger of Protherics and BTG will create one of the UK's leading biopharmaceutical companies. We will have a valuable portfolio of licensed and marketed products, a pipeline of mid to late stage programmes in clinical development and the cash resources and development expertise to progress the combined pipeline."


Seem's to me they've been told the deal is done.

[gregsc] 30/9/2008 09:55

I cannot believe that the major shareholders have
agreed to this. I own a fair chunk of PTI for
a PI, and no-one asked me. If they had I would
have used two words in reply. The last one being OFF.

[martinfrench] 30/9/2008 09:17

why couldnt they just be patient and wait till 2010 when the proper incomes arrive?

agreed sb, the price is appalling at this level. pay the 2 mill or come to a gentlemens agreement and get out

[superbarnet] 30/9/2008 08:29

But the price is not right any more.

[red ninja] 29/9/2008 20:53

I'm not sure if that is certain.

The logic for the deal still stands.

[superbarnet] 29/9/2008 20:51

I sold at 65p so for once got it right. I think this could get back to the low 30's and it will be an attractive bet. The deal must be dead now at these levels and btg is falling like a stone.

[bargainbob] 29/9/2008 16:29

Baronet

Totally wrong just a PI who has ben in BTG since flotation in 1998.
Looking at re-entry in to BTG at 115p. From experience it will get there and recover again.