Just when you thought you've seen it all, GEN reported late yesterday that an experienced counsel to investors, named Wolf Haldenstein, is investigating whether the Millipore board sold themselves too cheaply & quickly thereby violating their fiduciary responsibility to their shareholders!
Yikes! I think they were so shocked they just took the money and ran. They only question that needed to be asked was "where do I sign?" There are reports today that Millipore has already accepted the bid and that the deal is expected to close before the end of this year. Merck KGaA can now use this time to deflect attention from some of the set backs in its pharma business (e.g EMEA turn down of Erbitux for lung cancer) and spin it story of a Master plan to diversify around its chemical offering.
Meanwhile, Wolf can gather clients and get his picture in the paper (and we're happy to oblige as well).
Posted by Bruce Lehr March 2, 2010