MOGEN‚ INC. Teaching Note Synopsis and Objectives In 2006‚ Merrill Lynch became the lead book runner for a $5 billion convertible bond issue for MoGen‚ Inc. This was the single‚ largest convertible bond issuance in history and required a considerable amount of effort on the part of Merrill Lynch’s Equity Derivatives Group to convince MoGen’s management to choose Merrill Lynch over its competitors. The case is focused on Merrill Lynch’s choice of the conversion premium and coupon rate
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EXECUTIVE SUMMARY In 2006‚ Merrill Lynch become the lead book runner for a $5 billion convertible bond issue for MoGen‚ Inc.‚ which was the single-largest convertible bond issuance in history. Merrill Lynch’s Equity Derivatives Group needed to convince MoGen’s management of the best coupon rate and conversion premium for MoGen and the potential investors in the issue. BACKGROUND MoGen‚ Inc was one of the leading company in the biotechnology industry. MoGen (Molecular Genetics) emerged with
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MoGen On January 10‚ 2006 the managing director of Merrill Lynch’s Equity- Linked Capital markets Group‚ Dar Maanavi‚ was reviewing the final drafts of a proposal for a convertible debt offering by MoGen‚ Inc. As a leading biotechnology company in the United States‚ MoGen had become an important client for Merrill Lynch over the years. In fact‚ if this deal were to be approved by MoGen at $5billion‚ it would represent Merrill Lynch’s third financing for MoGen in four years with proceeds raised
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History Miss. Averitt 2014/11/18 2006 Free-Response Questions The increased production and flow of silver during the mid-sixteenth century to the early eighteenth century caused many social and economic effects all around the world. It caused social class distinction in China‚ and caused negative social and economic effects in Spain. First‚ Document 1‚ 3‚ 5 and 7 should be grouped together because they were all written by Chinese during the Ming dynasty. Document 1 was written by country official
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provide up to 11 times the amount of funding provided by venture capitalists (Reynolds‚ Bygrave‚ and Autio 2003). Specifically‚ the Center for Venture Research estimates that US *Corresponding author. Email: cbrush@babson.edu Venture Capital Vol. 14‚ Nos. 2–3‚ April–July 2012‚ 111–129 ISSN 1369-1066 print/ISSN 1464-5343 online 2012 Taylor & Francis http://dx.doi.org/10.1080/13691066.2012.654604 http://www.tandfonline.com angels invested $20.1 billion in 611‚900 companies in 2010 (http://wsbe
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There are many ways to get to PAL Inflight Center from Far Eastern University. The first route is to take a jeepney going to Lawton or SM/City Hall. From there‚ you can take a bus going to Southmall or any bus going to Cavite. Then‚ your next stop should be Baclaran. Take a pedicab going to the terminal of jeepneys going to MIA Road Terminal 2 & 1. Another route is to take the LRT 1 from Doroteo Jose station going to Bacalaran. You can ride a jeepney going to Alabang Metropolis. This jeepney
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Funding Pluto Since 1970‚ NASA has been planning to send a spacecraft out to explore the outer limits of the solar system. Scientists believe they can learn more about the plants and the evolution of the solar system by exploring Pluto and the Kuiper belt. There is not enough new information that we will learn from exploring Pluto and the Kuiper belt. NASA has spent too much time and money on missions to Pluto. In the early days of space exploration a mission to Pluto was actually a main focus
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Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors? By Zachariah Godfrey-Plews This essay has asked me to look at the importance of external auditors and why it is vital for them to remain independent. I will try and look at the many ways of the advantages of independent auditing from different perspectives for example the company itself‚ the general public and the state. I think it is important to first define what an audit
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Funding for the Military The bottom line is we need to maintain the current budget for the military‚ also known as the defense budget. Some people think that if we reduce funding‚ then nothing will happen. Well they are wrong. Funding for the Military is important. With it we protect smaller countries‚ we keep Israel together‚ and we will keep America safe. The United States has 737 military bases worldwide and with more than 2‚500‚000 troops deployed; the United States protects more countries
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As Good As It Gets Overview Melvin Udall‚ from As Good As It Gets‚ presents today in your clinic. He has a history of obsessive-compulsive disorder (OCD). Although past attempts at treatment were unsuccessful‚ Melvin wants to try again. He has just begun a relationship with Carol Connelly‚ a waitress‚ who has urged Melvin to explore treatment that will help him abandon some of his rituals‚ improve his social skills‚ and ultimately manage the anxiety and obsessions that cause his behavioral and
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