Is There Some One Eyeing Alza?
Takeover strategists in the USA are reported by Business Week to be convinced that a major pharmaceutical company is interested in acquiring US drug delivery specialist Alza, and these strategists are busy buying Alza shares ahead of an offer.
However, Merrill Lynch's Richard Vietor points out that Alza's strength lies in its independent marketing alliances, which it would be in danger of losing if it linked up with a rival. BW suggests an offer in the region of $35 per share might be forthcoming, while Alza's current share price is only in the low $20s ($23.75 on March 6; see pages 8-9).
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