Seeking Alpha – Cypress Bioscience will consider putting itself up for sale or unloading part of its assets in an attempt to nullify or better a pending buyout offer made by a New York hedge fund.
Ramius, a Cowen Group fund that owns 10 percent of Cypress, is offering $148 million for the shares it does not own. At $4.25 per share, Cypress’ management says the bid “grossly undervalues” its current business and future prospects.
