The ramifications of an American Cyanamid buyout

Like most other upheavals, the ramifications of the potential acquisition of American Cyanamid by American Home Products, SmithKline Beecham or any other bidder, will affect actors peripheral to the central drama.
In this case, those potentially affected by the fallout from last week's buyout offer from American Home are Cyanamid's corporate partners, including Quadra Logic Technologies Inc., Houghten Pharmaceuticals Inc. and MedImmune Inc.
Most prominent among those is Immunex Corp., in which Cyanamid has a 54 percent ownership stake.
According to IMNX spokesperson Valoree Dowell, a change in the ownership of Cyanamid wouldn't change the contractual obligations of the new entity to IMNX.
Nor would it enable the new owner to dump the Seattle company's shares if it weren't interested in IMNX. "There's a standstill agreement that limits Cyanamid's ability to sell shares until June 1, 1998,"