Endo negotiating to buy BNC?I think Endo has been negotiating with both Qualitest and Bioniche to buy them. When BNC started to go up 33%, BNC management thought there had been a leak in the BNC team. But it is also possible there was a leak in the Endo team when they heard about the Qualitest deal ... people in the US figured BNC would be next and started buying BNC too.
But BNC management would not be aware Endo was trying to buy Qualitest at the same time. So BNC management figured it was BNC that leaked. BNC called the long halt because they figured they could reach agreement on a very attractive buyout price by end of day. However, by late afternoon, protected by the poison pill, they could not agree on a friendly offer price high enough. So negotiations broke off and Endo went ahead with only one announcement. BNC changed course and blamed the halt on upcoming PIII results being anticipated (duhh!).
I'm convinced this is what is going on. Otherwise, it's just another peculiar press release by BNC to go with their ambiguous August press release.
"Pow. To the moon, Alice."