"Pay no attention to the man behind the curtain!"
L. Frank Baum, The Wonderful Wizard Of Oz
For a company that owes about 45% of its post-March 28 market cap to buyout rumors, biopharma Amylin Pharmaceuticals (AMLN)
continues to be stubbornly silent on the question of whether or not the
company is for sale, at what price, and potentially to whom. Management
not only refused to address the rumors on its first quarter conference
call, but likewise at the annual shareholder meeting.
investors in a curious position - investors are ostensibly finding out
more about what's going on at Amylin from Bloomberg than they are from
their own management team. All we really know for certain is that Carl
Icahn decided to drop his suit against the company after a private chat
with the CEO; the rest is rumor and information from people "familiar
with the matter".
Amylin Goes A Little Wizard Of Oz On Shareholders