It was a solid in-line quarter. Expenses were a bit lighter than expected and that's what gave them the beat. |
The stock is really hard to call right now because it's still expensive. To get excited about it you've got to believe that there is another shoe to drop for one of the big drugs. |
They are certainly blazing new ground with the price of the drug. They're saying, we think this is fair value, at least on a relative basis. |
They've got until Thanksgiving or mid-November. |
With the biggest dissident shareholders in favor of the new deal, we expect the transaction to be consummated without further disruptions. |