Very interestingly, only a couple days later after the BW article, Genzyme made a $5.6 cash offer to BIVN, which was approved by the BIVN board and some large investors but opposed by others. The stock has traded as high as $5.80 since, meaning that the market is expecting that Genzyme will sweeten its offer.
Should shareholders hold on to the shares and wait to see if Genzyme sweetens its offer? Should they get out now at the current price higher than the $5.60 offer price, leave the proxy fight behind and possibly also leave money on the table? And if shareholders select to hold on to the shares, should they tender their shares?