Respert: Astute as always, but perhaps a qualification to propose: Occasionally, one party in a stalled negotiation responds to its adversary's hunkering down move (announcing its new president on a 6 month trajectory to CEO/major dilution vote in 2 months to raise operating funds) with a major concession if the concession minded party wants/needs a deal sooner rather than later. Such circumstances would seem to fit GSK with its July 18 share price reset for the "new "GSK, where management has had over a year to plan for a big send off and so far has announced nothing "new" of consequence.

Also, Roche is already heavily focused on all the same indications that the new GSK aspires to develop, and there is the Cyrus/Nimble/Roche connection tea leaf, but Roche has no urgent need for a catalyst, and would more conveniently fit your suggested timetable.

Cheers.