THIS SHARE WILL BE WORTH 3.00 IN 2009

Take Care!
This "bid situation" is only making-up lost value, as (bank) financial woes sweep the equity market, and then there's Recession....all of which is bound to affect the willingness of folk to buy Bio-shares, - however valuable/good their pipeline....so this may be a temporary "spike" - take care, don't bet the bank as it were.

Whilst it is welcome, I wonder who it is?

Greekman_ to make it on their own I suspect will be at least another 5-years when commercialisation rests on several products....that's a long time...when I invested (1998?) it seems to be a lot nearer - no one said!

I would have thought, IF it was a Co like Glazo ( mentioned here) then they'd just make a bid at 1(say)- and take the whole thing over. (i.e. their bid would frighten any rivals).... It's very odd that someone would pounce "now" unless it's an oportunistic ploy by Management and they are trying to get the money together, not realising how much reaction the Market would put up.
-Indeed it might be Glaxo that will be their problem, for JV's can be tricky to break and to some extent they help small Bio's from being gobbled-up, whilst giving them a Sales outlet assuming the product works OK.
I hold, long-term.
(Some in an ISA)

Just because Glaxo can easily make a 1 per share offer out of their petty cash does not mean they will unless they feel that is its worth. Companies like Glaxo still look for value. If there is an offer it will be good to see the first figure, as this will give a good indication of what might be a final figure. As to the recession, this is one of the reasons why Glaxo have suspended buy backs. They probably feel that with the money market as they are cash can be used in a more productive way
Obviously no predator offers anywhere up to what they deem to be the real worth.
Keeping very rough figures I find that if deals go through the final figure is usually between a 15% to 25% premium to the initial offer figure. If it becomes a competition of suitors then it is often up to 30%.
Now when if due diligence is carried out some of the drugs portfolio looks to have more potential with a money no limit backer well the sp of today might be easily doubled. Of course things can also go wrong, but I can't see Protherics management hiding the wool.
As to 5 years minimum re commercialisation on several products, looking at the time position of PTI's drug portfolio my estimate is nearer 3 years, but yes it could be 5 years if and there is always a big IF with drug issues there are more hiccups than expected.
I fully agree with your "Don't break the bank statement".
Offer or not 'Things can only get Better' as the Labour party used to tell us.

From today's Times:

Rumour of the day

Protherics shares surged more than 40 per cent, up 16p to 55p, after the biotech company said it had received several bid approaches after market close on Wednesday. There was speculation yesterday that it could be bought by AstraZeneca, which has a deal dating back to 2005 with Protherics covering CytoFab, its experimental drug for sepsis.

Nice little summing up of Protherics.

Zhining Xu, analyst at Seymour Pierce, said: CytoFab alone is probably worth more than the whole market capitalisation of the company at the moment.

For full article see.http://www.ft.com/cms/s/0/59412452-6a28-11dd-83e8-0000779fd18c.html

This is why the value of the company is IMHO over the 1 mark per share, and unless any offer is over this amount I still would proffer Protherics to go it alone.
In 3 years time the 1 valuation could if things go as planned look cheap.

Nice one Greekman - Unfortunately small punter like us wont have a say. I just cannot see more than the rights 65p being offered.
I agree its worth lots lots more but thats how it goes!

Possible but once the chase is on between the major pharma players the price will be ramped up by a hopeful bidding war, if only in order to stop rivals getting a foothold in certain sections of Protherics IP's.
Many are cutting back on R@D with Glaxo especially stating they intend to look at other companies drug portfolios. They have also postponed their share buy back scheme in order to put the cash to what they think is a better use, IE buy outs of others R@D developments.
Although I have quoted Glaxo often in this thread since the rumors started re take over this is purely because having Glaxo in my portfolio means I know more about this company than other majors. But I now think like most here that AZ is probably going to be the bid leader.
Whatever the outcome we have not seen such interest in Protherics since, er never.
Once names are thrown into the bidding hat, sparks will really fly, lets just hope we investors don't get burned.

Fully agree that us PI's won't have any say.
Nice to see many differing opinions though.

Yes its possible there could be a bidding war but in this market I think its doubtful.
If it were likely I'm sure the current SP would be higher.
The market makers don't often get it wrong.
I need more than 70p really and I guess other small punters may need more.

On a positive note I don't see much downside from here at all but the upside is limited too......mmmmmmmmm

Inching up this morning.....

Good Article valuing Protherics Shares at up to 100.
OK although I wanted Protherics to go it alone, I think 100 per share will do nicely. Where do I vote.
Now where is that contact number for the local Bentley Garage.
A Bentley Continental would look great in my drive.
IF ONLY.
But seriously, I think things will quieten down for a bit with a trickle of info, things wont move overnight.

http://www.bioworld.com/servlet/com.accumedia.web.Dispatcher?next=bioWorldHeadlines_article&forceid=48467

Come on now chaps it must mean 1 per share and 70p per share.
100 would value it near to glaxo - daft...

Transco,

Now is it you winding me up. It was tongue in cheek.

Yes I'm winding you up...

I suspect that broker has something to gain by bulling it up.

I cant ever see 1.00 as the take out price.

More like 65p - 70p at the best. IMHO

Don't usually put any price on an SP but I will be very surprised if the take out price is less than 1. My bet is 1.10p.

Personally I see this as MM having a smirk - almost any news of a bid ( in these days of low sp), means the Co has to issue an RNS - this causes puinters to look at their wallets, meanwhile the City has bought cheaply and will release the stock as the probability of a bid diminishes.

Let's face it, unless the Bid is serious about 1 then PTI Execs will reject it....where else could they find employment if they sold it cheap? - Furthermore they will miss out on the meetings/City-splendour and potential big-bucks "if" one of the Drugs actually works, as they hope.

What on earth would encourage them to sell out at 50p? - it's nearly that now AND they are receiving a very decent living. No, I can't see any BID (other than by the Execs themselves - in which case they should be dismissed without reward) - being successful unless it's 1. More, would be v. nice as others have wished.

Question is, what to do with the small profit I've made from a fortuitous purchase? It was just 2-weeks before the balloon went up.....sure I hold from earlier (higher), but a profit is a profit, they say, and I'm not used to it.

Agree re the bid less than 1 comment.
As to the bid itself, it is far passed a rumor stage when a company release an RNS stating, Protherics confirms it has received approaches from a number of parties interested in acquiring Protherics.
No doubt the sp will fluctuate over the next few weeks as if a firm bid was put in today (very doubtful re due diligence etc) the timescale is at least 2 months for finalization, so many who bought in lower than todays price will get impatient and take profits.
But at least we would get to know what any predators approx valuations are.
My betting is that the first firm offer will be at a discount to any final figure of at least 20%.
Like Hangon I am in at differing sp levels, (from 30p to 80p), so I will have to sell at minimum of 63p to make any profit.

Nice but very long article re the hunger of big pharmas re Mergers and Acquisitions.
Worth skimming through.

http://www.marketwatch.com/news/story/dealmaking-financing-mergers-acquisitions-pharmaceuticals/story.aspx?guid=%7B04B64222-C339-4D4E-9E8C-E3F650C66A10%7D&dist=hppr

Latest.
UK biotech company BTG have just been named as another possible suitor re protherics.
Protherics have also taken on Ashurst corporate partners Andrew Edge and Michael Johns who will be advising on the bids, along with IP partner Dominic Batchelor.

Also an interesting example re high prices being offered.
Oxford BioMedica has turned down takeover bids by the USAs GeneThera, a move which has sent its shares soaring and highlights the increased interest of late in biotechnology firms, especially British ones.

The Oxford-headquartered firm revealed that GeneThera, were willing to pay 0.35 per share more than......four times its closing price on Thursday....., when its value stood at 46.5 million.

4 or even 3 times the closing price of Protherics Wed close of 38p (pre RNS) would do me.

Sorry Duplicate Post.

Greekman- really!
...( answers to OXB++, on PTI-thread! Sorry)...
There is zero chance GeneThera will bid for OXB -with any hope of success!
GebeThera is a small Bio with hardly any cash and little turnover - Mkt cap is said to be well under $1m- OXB is a Full-List with abt. 50m cash ( That's about 200x the notional value of GeneThera ).
It's a bit like my local Chippy bidding for Macdonalds - it ain't gona happen... Quite why GeneThera sounded-off I don't know; but I'd welcome OXB taking them over...
+The rise in OXB sp is because our MM's think other punters will wake-up to OXB's hidden value.....the Trovax trials are not dead yet....so I topped up at 8p on the bad news a couple of months ago. Due to the falls OXB is no-longer my No1 holding...ahem. OXB trial results are looking dulled, so I don't think we'll see much sp movement - therefore MM's have to stir the pudding.


Protherics appears to be in BID situation, but so far we don't know who! I hope it's not Management - PTI has a decent pipeline, as well as the Rattlesnake product which sells and sells. Previously PTI could command 70p so, today it looks weak...despite the rise...
I can't see BTG being the suitor - they take products and bring them to Market, so if it was a license-deal that might be true....but a Bid?

As for Big Pharma wanting to takeover pipelines - there seems to be no evidence for it, although a few have happened - but no rush, is what I mean -- -some JV, like Sanofi with OXB but they appear to be willing to pay Royalties rather than bid big-cash in one go.
I guess it's cheaper to take smaller bites, which can be financed by Sales.

Any views on Vernalis[VER]-?

The link at post 263 shows some hunger for big pharma takeovers and there are many more articles stating that the pharma industry is the one that is at present possibly the most vulnerable sector to such takeovers.
As to BTG like you I think it doubtful, unless there is a big semi outside backer,(the ever present hedge fund or private backer syndicates could be sniffing around but although possible very doubtful). As to AstraZeneca and BTG they have now been named in several newspapers as possible suiters so I would have thought that they would have released a denial if there was no truth in either being interested. But perhaps I am reading it wrong.