Why is this company quietly announcing release date at 5.20 pm? Is there any scope? Citywire says shrewd investors in it. DYOR

Going strong...........will it hit 1000p before the offer is made ? My fingers are crossed :)

Bugger, another missed ship.

KD.

A bidding war may break out? Yummy :)

"It should be relatively obviously why Neutec is attractive it's got two unpartnered relatively late stage products," the analyst told AFX News. "There are very few companies, certainly in Europe, with unpartnered late stage programmes. It wouldn't surprise me if this became a competitive bidding situation."
Devani said the suitor could be anyone from a rival biotech to large pharma. He has a 'buy' recommendation on the stock, and is advising clients to hold for now, rather than take profits..."

http://www.bloomberg.com/apps/news?pid=10000085&sid=ajerDS_qjP0U&refer=europe


Novartis Offers $569 Million to Buy NeuTec Pharma (Update1)
June 7 (Bloomberg) -- Novartis AG, Europe's third-largest drugmaker, offered to buy NeuTec Pharma Plc for 305 million pounds ($569 million) in cash to gain two experimental treatments for drug-resistant infections.

Novartis is offering 10.50 pounds per share of Neutec, the Basel, Switzerland-based company said in an e-mailed statement. NeuTec's board and shareholders with 39 percent of the company are backing the offer, according to the release.

Chief Executive Officer Daniel Vasella has been buying companies to expand the Swiss drugmaker's stable of new treatments. The company acquired Chiron Corp. and Hexal AG last year, at a time when it lacked new drugs to bolster growth.

NeuTec, based in Manchester, has two promising medicines in late stages of clinical development. One of them, Mycograb, was has been submitted to European regulators while the other, known as Aurograb, is scheduled for filing in 2010, the company said.

``Both Mycograb and Aurograb promise to dramatically improve the treatment possibilities and will enable Novartis to strengthen its biologics pipeline and anti-infective drug portfolio,'' Vasella said in the statement.



To contact the reporter on this story:
Christian Baumgaertel in Zurich at
cbaumgaertel@bloomberg.net.
Last Updated: June 7, 2006 01:41 EDT

Ok, silly question time.

Why is the price still rising when the offer is worth 1050p?

KD.

I THINK COULD BE A HIGHER BID SOON,THAT COULD BE ONE WAY OF ANSWERING YOUR QUESTION.

Hmm, I thought as much.

Thanks aeeq180

Hmm, I thought as much.

Thanks aeeq180.

KD.

Hmm, I thought as much.

Thanks aeeq180.

KD.

any time frame