Identity of "interest party"
Well, the potential buyer isn't another small biotech player such as TH or DDS like I initially suggestion.
The Dec 9 press release said "pharmaceutical" company
There is a distinction between Pharma and Biotech companies, first being first gen drug maker (blue chip) and the latter being more speculative.
There probably 2 hand full pharma companies in the world.
So the buyer is actually a big fish a very big fish. It's obvious it's one of the big "PHARMA".
The deep pocket nature of a pharma player makes the 2$ acquisition even more possible.
70millions for a muti Billon market cap company is close to nothing...
This is pocket change for a pharma.
Now, if one "pharma" is interested there is always another one also interested.
Hostile take over and bidding war is very likely.
MONTREAL, QUEBEC--(Marketwire - Dec. 9, 2008) - Thallion Pharmaceuticals Inc. (TSX:TLN - News)today announced that it is reviewing its strategic alternatives,including, but not limited to, a sale of the Company and has engagedDesjardins Securities as financial advisor to assist the Company inevaluating and considering such alternatives and their potential forenhancing shareholder value.
The review was precipitated by the receipt of an expression ofinterest by an un-named pharmaceutical company to purchase all of theoutstanding shares of the company. The Board of Directors of Thallionestablished a committee of independent directors to oversee the reviewprocess and make recommendations to the Board. The Company emphasizedthat there can be no assurance that any transaction or otheralternative will ultimately be completed.