Why Salix???

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Anonymous said:
Salix protection agreement is written and countersigned by our CEO. Hard copy. Iron clad. Shire buys us, we essentially become a creditor they need to pay before they can assume control. It's not a policy, it's a contract.

Personally, I think Shire is a great company. I would be happy if Shire retained us but if they don't I'll be OK.
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Keep dreaming. Shire buys you for 6 months you become a Shire employee who then gets cut outside that package.
 






Anonymous said:
Keep dreaming. Shire buys you for 6 months you become a Shire employee who then gets cut outside that package.
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Well the agreement covers is for a year so if Shire were to let us go at 6 months, we are covered. Frankly I hope they get rid of us. I'll take the package and move on. The money is much better if we get cut and paid out.
 






Most of our salesforce is bitter and trying to get out because our current CEO only cares about himself. We realized how we would have been screwed with the Allergan buyout and now he is bringing in all of his old B&L cronies for Senior Leadership positions . (Take leadership lightly)
As you imagine , there is a bit of resentment that another company may treat their reps like we were accustomed to here for many years, but those years are over- in many ways.

But, hey- we do get gifts every night and free time at launch meetings...
 






Most of our salesforce is bitter and trying to get out because our current CEO only cares about himself. We realized how we would have been screwed with the Allergan buyout and now he is bringing in all of his old B&L cronies for Senior Leadership positions . (Take leadership lightly)
As you imagine , there is a bit of resentment that another company may treat their reps like we were accustomed to here for many years, but those years are over- in many ways.

But, hey- we do get gifts every night and free time at launch meetings...
 






Anonymous said:
Salix protection agreement is written and countersigned by our CEO. Hard copy. Iron clad. Shire buys us, we essentially become a creditor they need to pay before they can assume control. It's not a policy, it's a contract.

Personally, I think Shire is a great company. I would be happy if Shire retained us but if they don't I'll be OK.
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Salix employee here...actually its not iron clad. And it was actually involved in the discussions this weekend. Looks like all deals are off until after IBS indication (potentially) in May. Negotiations have ended with all companies.
 






Anonymous said:
Salix employee here...actually its not iron clad. And it was actually involved in the discussions this weekend. Looks like all deals are off until after IBS indication (potentially) in May. Negotiations have ended with all companies.
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Not even close. 1st you post on Salix's board that mgmnt is looking to have the acquirer keep employees on 3 years, which is @ least 3xs as expensive as a severance package. 2nd of all if Salix is acquired the severance gets written off as a one time charge to transaction costs, and would never be a point of negotiation for an acquisition over $1b (I worked in tech m&a for 3 years). Finally just as what happened with allergan being approached by Valeant and subsequently sold to Actavis (highest bidder), if the largest shareholders want a sale a sale will get done with or without IBS.
 






Anonymous said:
Not even close. 1st you post on Salix's board that mgmnt is looking to have the acquirer keep employees on 3 years, which is @ least 3xs as expensive as a severance package. 2nd of all if Salix is acquired the severance gets written off as a one time charge to transaction costs, and would never be a point of negotiation for an acquisition over $1b (I worked in tech m&a for 3 years). Finally just as what happened with allergan being approached by Valeant and subsequently sold to Actavis (highest bidder), if the largest shareholders want a sale a sale will get done with or without IBS.
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Completely agree! The poster is spreading garbage on multiple boards. They have no clue.
 












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