Vanda Pharmaceuticals: I Believe That The Bidding War Is Not Over
Summary
- Vanda Pharmaceuticals Inc. received and then refused two takeover bids that were well above current market prices.
- Vanda currently trades below net cash despite having significant revenue and operations.
- Vanda has disgruntled shareholders who may find creative ways to maximize shareholder value, despite a recent AGM failing to oust the unpopular Board of Directors and an existing poison pill.
- Retail shareholders can buy Vanda for less than the company's cash value, getting the potential benefit from the actions of activist shareholders for free.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of VNDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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