![]() ![]() ![]() If UAP resisted AXA's offer, said Bebear, its stock price would keep falling, forcing it to take a worse offer later on. Sell UAP to AXA for $7.8 billion, a modest premium, or AXA would launch a hostile bid. The prey was vulnerable-Bebear had already told Friedmann that he wanted UAP-and he closed in for the kill.
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