ARTICLE | Finance

Ebb & Flow

May 12, 2008 7:00 AM UTC

Rumors that GPC Biotech (Xetra:GPC; NASDAQ:GPCB) may merge with Wilex (FSE:WL6) triggered a major rally for GPC last week. Fueled by newspaper reports on Wednesday, GPC gained E1.53 (83%) to E3.38 on Xetra and $1.66 (58%) to $4.51 on NASDAQ.

While both companies declined to comment on the speculation, GPC's management has said it was looking into merging with oncology businesses on either side of the Atlantic. The fact that the Hopp family investment vehicles are the largest shareholders in both companies also fueled speculation...