Regarding deal terms' the outline of these woud be well known before the DD process was completed. OXB have long stated that the various options have been under discussion for some time. There will certainly not be any last minute surprises. THe 'auction' though is difficult to negotiate i would have thought. From my own experience there will be pressure from one or two to 'come back to us' if they've not played the winning hand. As OXB have plenty of deals to negotitate in the coming months and years they'll not want to upset too many by not playing it straight?
Whats the best deal? TOugh, thats why four were still in the running. OXB are keen to see Trovax pushed through a broad range of trials. Perhps a company offering thiscommitment is better thn one offering a larger upfront payment but with a more cautious aproach. Perhaps A US co is offers similar terms but lets OXB keep UK or Eoropean rights for themselve? A vast range of scenarios on offer, and an auction puts OXB in driving seat with a 'best bids by; date the logical way forward. What gets intersting though is if one of the losers decides they'll up the ante by bidding for the lot?
Will the deal be before Christmas? I still think so. Whilst it isn't necesarry, or perhaps even most beneficial Christmas can often create an arbitery deadline date. With much of the work done there'll be a huge temptation and desire to 'put it to bed' and start the new year with fresh impetus.
Almost got the 42p, i'll be sticking with GSK too.