The speculation swirling around MGI Pharma is heating up with this morning's terse announcement that it has brought in Lehman Brothers to help the board evaluate its "strategic alternatives." Let's see. In recent weeks MGI has been downgraded by one analyst--Brean Murray--because its programs were so risky it couldn't be a takeover target as the rumor mill had it. Carl Icahn (photo) also took a tiny piece of its equity--always a sign of something interesting about to happen. But don't expect much more from MGI, which is steadfastly refusing to discuss any of those rumors.
- see MGI's announcement
- check out the report from Trading Markets