Vanda Pharmaceuticals: I Believe That The Bidding War Is Not Over

Morsa Images Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is a takeover target. The company received an $8.00 per share bid from Cycle Pharmaceuticals. It also received an upwards-revised bid of $8.50 to $9.00 from Future Pak, that included up to $260 million of potential contingent value right payments, bringing the total consideration to $12.77-$13.27 a share. Despite these two bids, the market did not feel great confidence in either one being accepted, as the stock price never exceeded $7.00 while these bids ...