BioCentury
ARTICLE | Finance

Ebb & Flow

March 10, 2003 8:00 AM UTC

For those who think an M&A announcement represents the endgame for a biotech company, last week's maneuverings surrounding the proposed takeouts of Corvas (CVAS) and Oxford GlycoSciences (LSE:OGS; OGSI) provides notice that a deal may just begin the bickering over a company's value.

OGS postponed this Tuesday's EGM in the wake of a competing bid, thus giving investors a bit more time to ponder how to maximize their ROI. Meanwhile, a big shareholder from CVAS claims to have rounded up enough fellow shareholders to put a damper on the company's agreement to be taken out by Dendreon (DNDN)...