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What's your opinion on Abraxis (ABII)



August 17, 2010 – Comments (3) | RELATED TICKERS: ABII.DL

And more to the point, what do y'all think about my current caps postition in ABII? I currently sit at 26.50, and i wonder what are the LONG term prospects of this company?

I believe i may be in a position i could hold forever, but. . . . i have lost a LOT of points in the past with that theory.

Now i don't mind if it drops considerably, if it will eventually do even better. Currently i have a stop loss at 70.00.




3 Comments – Post Your Own

#1) On August 17, 2010 at 3:08 PM, portefeuille (98.32) wrote:

Celgene To Acquire Abraxis Bioscience Inc.



On August 4, 2010, Celgene Corporation (Celgene) announced that it has received verbal confirmation of early termination of the Hart−Scott−Rodino
Act (HSR) 30−day waiting period without the United States Federal Trade Commission (FTC) requesting additional information with regard to
Celgene’s pending acquisition of Abraxis Bioscience, Inc. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by
Celgene anticipates that the transaction will be completed in the third or fourth quarter of 2010.


(from here (pdf))

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#2) On August 17, 2010 at 4:07 PM, SolarisKing (< 20) wrote:

Yes. ABBI at                     58.00


.2617 of CELG@ 55.00=13.75

Equals                             71.75  ?

Currently at 75.+

So the questions i wonder. After CELG acquires ABBI, will ABBI be a ticker anymore? or will it be absorbed by CELG? 

If it is priced for above the agreed upon price, is there any sense in holding it?

If the S&P crashes, then holding it till the sale  is a good idea?


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#3) On August 17, 2010 at 4:50 PM, portefeuille (98.32) wrote:

There are also the CVRs.


Under the terms of the merger agreement, each share of Abraxis BioScience common stock will be converted into the right to receive an upfront payment of $58.00 in cash and 0.2617 shares of Celgene common stock. The upfront payment values Abraxis BioScience at approximately $2.9 billion, net of cash.  Each share will also receive one tradeable CVR, which will entitle its holder to receive a pro rata share of the following payments:

    •    $250 million cash payment upon certain U.S. approval of ABRAXANE® by FDA for NSCLC with progression-free survival claim in U.S. label
    •    $300 million in cash upon the approval of ABRAXANE by FDA for pancreatic cancer with overall survival claim in U.S. label.
    •    $100 million cash payment upon FDA approval of ABRAXANE for pancreatic cancer by April 1, 2013.
    •    Potential cash royalty payments upon achievement of certain ABRAXANE and nab-pipeline products net revenue thresholds.


(from the announcement)

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