First they want the data and then it's not the right data or not detailed enough. These guys are playing games. I say we respectfully tell them to take their bid and go back to selling supportive care and go it on our own.
First they want the data and then it's not the right data or not detailed enough. These guys are playing games. I say we respectfully tell them to take their bid and go back to selling supportive care and go it on our own.
Anonymous
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Anonymous
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First they want the data and then it's not the right data or not detailed enough. These guys are playing games. I say we respectfully tell them to take their bid and go back to selling supportive care and go it on our own.
Amen, the first smart thing I've read on this board
Anonymous
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Anonymous
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That's how the game is played; a lower offer is being prepared now and the BOD will have to accept it in order to execute their fiduciary responsibility to the majority of stockholders who are not employees of ONXX, but rather people who invested real money in this company and expect a fair return on their investment.
Anonymous
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Anonymous
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First they want the data and then it's not the right data or not detailed enough. These guys are playing games. I say we respectfully tell them to take their bid and go back to selling supportive care and go it on our own.
That's funny, you don't have a "say" in this matter.
Anonymous
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Anonymous
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Trading volume doesn't suggest that Wall St. sees a deal for $130/Shr. Now that they've got ONXX over a barrel look for Amgen to come back with a $115 offer.
Anonymous
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Anonymous
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Trading volume doesn't suggest that Wall St. sees a deal for $130/Shr. Now that they've got ONXX over a barrel look for Amgen to come back with a $115 offer.
The thing all of you are forgetting is that Onyx does not need to sell! We have plenty of cash on hand! So what if the stock drops back to $80 a share? If Aspire comes through positive we would most likely fetch $180 a share. I have no problem with TC turning down everyone today and the stock drops back to $80 and then selling for $160 to $180 a year from now.
That’s the question…would you rather have bird in the hand of $120-$130 today or roll the dice and have $160-$180 a year from now…oh btw with another year of options vested(especially if you are in the ‘we’re not getting our options vested’ camp)? Not to mention another year of ESPP especially if the shares drop to $80 again…oh and another round of RSU’s at performance eval time.
That is why Onyx is not over the barrel…we are calling the shots more than you think…Amgen needs us a heck of a lot more than we need them.
Anonymous
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Anonymous
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It's not going to drop back under $100 no matter what happens...a buyout is inevitable and at the very least we know we are worth $120 on the open market. You field dummies have no idea what you are talking about, you get a little nervous whenever there is an Motley Fool article and you panic...stay tuned it's going to sell, it's going to sell in the 160's. Stop checking Yahoo finance 20 times a day and the let big boys and girls handle the business side of things why you perfect your catering skills...
It appears you're the "motley fool" in this case. $160 you say. I say $116. Let's see who ends up closer when the deal is done. At least you're right about that, there will be a deal.
Anonymous
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Anonymous
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The thing all of you are forgetting is that Onyx does not need to sell! We have plenty of cash on hand! So what if the stock drops back to $80 a share? If Aspire comes through positive we would most likely fetch $180 a share. I have no problem with TC turning down everyone today and the stock drops back to $80 and then selling for $160 to $180 a year from now.
That’s the question…would you rather have bird in the hand of $120-$130 today or roll the dice and have $160-$180 a year from now…oh btw with another year of options vested(especially if you are in the ‘we’re not getting our options vested’ camp)? Not to mention another year of ESPP especially if the shares drop to $80 again…oh and another round of RSU’s at performance eval time.
That is why Onyx is not over the barrel…we are calling the shots more than you think…Amgen needs us a heck of a lot more than we need them.
Read Fiduciary Responsibility to Majority Stockholders - this is not about whether ONXX has cash and it's not about what employees of the company with stock options want. It's what investors want, get it, people who invested money in the stock and are looking for ROI. The BOD is accountable to the stockholders, i.e., investors. Employees of the company account for a small minority of the shares. A deal will be done at Amgen's price or there will be shareholder lawsuits stacked 4 stories high. They should have accepted the $120, but they got greedy and got played. Hello $115.
Anonymous
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Anonymous
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Read Fiduciary Responsibility to Majority Stockholders - this is not about whether ONXX has cash and it's not about what employees of the company with stock options want. It's what investors want, get it, people who invested money in the stock and are looking for ROI. The BOD is accountable to the stockholders, i.e., investors. Employees of the company account for a small minority of the shares. A deal will be done at Amgen's price or there will be shareholder lawsuits stacked 4 stories high. They should have accepted the $120, but they got greedy and got played. Hello $115.
Thanks for your dime store financial lesson. Fiduciary responsibility goes both ways, meaning if TC and BOD agree to a price that is deemed by the shareholders as “significantly undervalued” lawsuits in turn will be forthcoming. TC in no way would have made that comment without consulting with the major shareholders like Fidelity, so suffice to say that our major holders also felt/feel that $120 was/is significantly undervalued. Nothing has changed.
In terms of fiduciary responsibility, nowhere does it say you must sell for a price, even if it’s substantially more than what your normal share pric if it undervalues the potential worth of the company. Especially if you have a plan that has convinced our major shareholders that we are worth more than the offer, and you have the resources (this is where and why the cash on hand matters) to do so. If Fidelity for instance, believes that the Aspire trial will be positive and if so the company will be worth $170 a share they very well may say to TC that they are fine with waiting it out.
Anonymous
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Anonymous
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Thanks for your dime store financial lesson. Fiduciary responsibility goes both ways, meaning if TC and BOD agree to a price that is deemed by the shareholders as “significantly undervalued” lawsuits in turn will be forthcoming. TC in no way would have made that comment without consulting with the major shareholders like Fidelity, so suffice to say that our major holders also felt/feel that $120 was/is significantly undervalued. Nothing has changed.
In terms of fiduciary responsibility, nowhere does it say you must sell for a price, even if it’s substantially more than what your normal share pric if it undervalues the potential worth of the company. Especially if you have a plan that has convinced our major shareholders that we are worth more than the offer, and you have the resources (this is where and why the cash on hand matters) to do so. If Fidelity for instance, believes that the Aspire trial will be positive and if so the company will be worth $170 a share they very well may say to TC that they are fine with waiting it out.
Actually something has changed, several big companies took a peek under the ONXX hood after the initial Amgen offer and they've now said - Not interested. If you don't think that impacts the opinions of major holders on future value of their investment, you're dead wrong.
Anonymous
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Anonymous
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Actually something has changed, several big companies took a peek under the ONXX hood after the initial Amgen offer and they've now said - Not interested. If you don't think that impacts the opinions of major holders on future value of their investment, you're dead wrong.
First believe half of what you see and none of what your read. All the so and so is in or out is total BS. It posturing and negotiation tactics...clearly you have never been through this before or know very little about M&A's. Secondly the number of suitors does not dictate value. It only dictates what one is willing to pay for us versus another bidder if both are underbidding than a deal does should not happen.
Anonymous
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Anonymous
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First believe half of what you see and none of what your read. All the so and so is in or out is total BS. It posturing and negotiation tactics...clearly you have never been through this before or know very little about M&A's. Secondly the number of suitors does not dictate value. It only dictates what one is willing to pay for us versus another bidder if both are underbidding than a deal does should not happen.
We are so lucky to have someone with such vast M&A knowledge keeping us in check on CP. You have our undying gratitude.
Anonymous
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Anonymous
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First believe half of what you see and none of what your read. All the so and so is in or out is total BS. It posturing and negotiation tactics...clearly you have never been through this before or know very little about M&A's. Secondly the number of suitors does not dictate value. It only dictates what one is willing to pay for us versus another bidder if both are underbidding than a deal does should not happen.
One bidder said $120 and other companies began to sniff around at that price. The first bidder was rebuffed by the BOD because they thought someone else would best $120. The first bidder raised their bid to $130 and added some terms. Everyone who was sniffing around determined that $130 was too much to pay and so they moved on. Today $120 is looking pretty good. Your problem is that you're looking at this from an employee perspective not an investor perspective. This ain't my first rodeo son.
Anonymous
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Anonymous
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One bidder said $120 and other companies began to sniff around at that price. The first bidder was rebuffed by the BOD because they thought someone else would best $120. The first bidder raised their bid to $130 and added some terms. Everyone who was sniffing around determined that $130 was too much to pay and so they moved on. Today $120 is looking pretty good. Your problem is that you're looking at this from an employee perspective not an investor perspective. This ain't my first rodeo son.
Nope they didn't say no because they thought they could get more they said no because they felt it was under valued. I couldn't care less other than my unvested. I sold all ESPP and an options at an average of 134 and bought back in at an average of $114. I good and can retire regardless if the unvested being accelerated.
Anonymous
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Anonymous
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"After a careful and thorough evaluation process, our Board of Directors has determined that the all-cash transaction with Amgen maximizes value for our stockholders."
$125 / shr
$125 / shr
Anonymous
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Anonymous
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Who said there wouldn't be a deal for less than $130?
WSJ - The deal is expected to close at the beginning of the fourth quarter.
$125 / shr
WSJ - The deal is expected to close at the beginning of the fourth quarter.
$125 / shr
Anonymous
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Anonymous
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Thanks for your dime store financial lesson. Fiduciary responsibility goes both ways, meaning if TC and BOD agree to a price that is deemed by the shareholders as “significantly undervalued” lawsuits in turn will be forthcoming. TC in no way would have made that comment without consulting with the major shareholders like Fidelity, so suffice to say that our major holders also felt/feel that $120 was/is significantly undervalued. Nothing has changed.
In terms of fiduciary responsibility, nowhere does it say you must sell for a price, even if it’s substantially more than what your normal share pric if it undervalues the potential worth of the company. Especially if you have a plan that has convinced our major shareholders that we are worth more than the offer, and you have the resources (this is where and why the cash on hand matters) to do so. If Fidelity for instance, believes that the Aspire trial will be positive and if so the company will be worth $170 a share they very well may say to TC that they are fine with waiting it out.
Idiot!
Anonymous
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Anonymous
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It's not going to drop back under $100 no matter what happens...a buyout is inevitable and at the very least we know we are worth $120 on the open market. You field dummies have no idea what you are talking about, you get a little nervous whenever there is an Motley Fool article and you panic...stay tuned it's going to sell, it's going to sell in the 160's. Stop checking Yahoo finance 20 times a day and the let big boys and girls handle the business side of things why you perfect your catering skills...
Idiot!
Anonymous
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Anonymous
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It’s called a negotiation…contrary to what you may think, they do not happen overnight. July 1st was when the Amgen press release went out. Today is August 14th. Sorry to have to inform you but $10B+ deals can take months to negotiate. Also stop getting hung up on ‘anonymous sources’ and ‘unnamed person with close knowledge’…99.99% of the time those are BS leaks that one side is using to apply pressure the other side…again it is called a negotiation…and like love and war…all is fair.
To answerer a few of your questions…it doesn’t really matter what the stocks does day to day so stop worrying that is went from 136.87 to 124 – it really doesn’t mean anything in terms of a buyout price. All you are seeing is the reaction to a leak…which undoubtedly came from one of our suitors to shake out the weak stomachs and rattle Onyx a bit. It happens all the time in M&A’s. Next, stop thinking this is TC’s decision. He has the BOD, Centerview, and probably has a few other M&A consultants/experts in the room helping with this process. He is talking to our largest institutional investors to get a sense at where they are at in all of this. This is not some unilateral decision that TC is making. If we as a company stand our ground on whatever number the perceived value is say $160 in the minds of the ET/Centerview/BOD than that is a good thing. Why would you want to sell the company today for $130 if you think it is worth more? The shares you have do not have any value until you sell it so what’s the big deal if we don’t sell today, the stock goes to $85 and then six months from now we sell for $170? So no, if no one is willing to pay what ‘we’ think we are worth we don’t go running back to Amgen or whomever to get a deal. Remember we have a lot of cash on hand, we are narrowing losses, and we do not need to sell – especially on the cheap. We are in the driver’s seat in this whole thing and I’m glad that TC and the board are acting like it. Would you rather not wait six months for $170 than get $130 today? If you are very risk adverse then sell everything right now for $125 and buy back if the stock drops to $100 or below.
What I’m tired of reading on here is any time there is any sort of news – real or otherwise people on here freak out. If you don’t have the stomach for it sell it all now! It’s that easy and you will still make a lot of money and you can stop worrying about it every day.
"Maximizes shareholder value" TC @ $125/shr, go take an economics class junior mint
Anonymous
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Anonymous
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The thing all of you are forgetting is that Onyx does not need to sell! We have plenty of cash on hand! So what if the stock drops back to $80 a share? If Aspire comes through positive we would most likely fetch $180 a share. I have no problem with TC turning down everyone today and the stock drops back to $80 and then selling for $160 to $180 a year from now.
That’s the question…would you rather have bird in the hand of $120-$130 today or roll the dice and have $160-$180 a year from now…oh btw with another year of options vested(especially if you are in the ‘we’re not getting our options vested’ camp)? Not to mention another year of ESPP especially if the shares drop to $80 again…oh and another round of RSU’s at performance eval time.
That is why Onyx is not over the barrel…we are calling the shots more than you think…Amgen needs us a heck of a lot more than we need them.
Like I said over a barrel. Had to take $125 to save face. Deal closes beginning of Q4.