C&O Pharm

C&O: Offer is conditional upon several conditions being fulfilled so there is a risk that the offer may not happen. The 3.0% difference in the share price now likely accounts for the risk, apart from time value to the offer. Some of the conditions include, shareholders approval, no material breach of warranties and no court order or regulatory case against C&O, etc. The pre-conditions must be fulfilled by 31 Dec 2011 unless the parties agree with it.