Stockwatch: Allos - Anatomy of an Acquisition
This article was originally published in Scrip
Spectrum Pharmaceuticals managed to mute the negative reaction to its two phase III failures for their bladder cancer therapy, apaziquone just before the weekend by announcing a $206 million acquisition of Allos Therapeutics (scripintelligence.com, 06 April 2012). Allos was previously the subject of a $260 million tug of war between AMAG and the Allos shareholders. That transaction was dissolved in four months, after counter-offers from, and lawsuits by, the Allos shareholders (scripintelligence.com, 21 November 2011). Paradoxically, a lower offer than that of AMAG seems to have already been accepted by about a quarter of Allos' shareholders on the basis of Spectrum's better stewardship of oncology assets.
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