What we're witnessing now is possibly the most robust period of M&A that we have seen in the past 10 years.
Even though management is saying the cancer trial was not a focus for them, it is never a good thing to have a failed trial.
Defense mechanisms in this country are seen by regulators as a means to improve shareholder value, not to thwart bids.
Hostile bidders are more courageous than they would have been a few years ago.