Is Medarex and Bristol-Meyer Squibb in Collusion With this Tender Offer??..Melanoma..Jim Breitfeller

"Our opinion does not address the underlying business decision of the Company to engage in the Transactions, or the
relative merits of the Transactions as compared to any strategic alternatives that may be available to the Company. We
were not requested to solicit, and did not solicit, interest from other parties with respect to an acquisition of or other
business combination with the Company. This opinion addresses only the fairness froma financial point of view, as of the
date hereof, of the $16.00 per Share in cash to be paid to the holders (other than Bristol and its affiliates) of Shares
pursuant to the Agreement.We do not express any view on, and our opinion does not address, any other term or aspect of
the Agreement or Transactions, including, without limitation, the fairness of the Transactions to, or any consideration
received in connection therewith by, the holders of any other class of securities, creditors, or other constituencies of the
Company; nor as to the fairness of the amount or nature of any compensation to be paid or payable to any of the officers,
directors or employees of the Company, or class of such persons in connection with the Transactions, whether relative to
the $16.00 per Share in cash to be paid to the holders (other than Bristol and its affiliates) of Shares pursuant to the
Agreement or otherwise. Our opinion is necessarily based on economic, monetary, market and other conditions as in
effect on, and the information made available to us as of, the date hereof and we assume no responsibility for updating,
revising or reaffirming this opinion based on circumstances, developments or events occurring after the date hereof. Our
advisory services and the opinion expressed herein are provided for the information and assistance of the Board of
Directors of the Company in connection with its consideration of the Transactions and such opinion does not constitute a
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recommendation as towhether or not any holder of Shares should tender such Shares in connectionwith the Tender Offer
or how any holder of Shares should vote with respect to the Merger or any other matter. This opinion has been approved
by a fairness committee of Goldman, Sachs & Co.
Based upon and subject to the foregoing, it is our opinion that, as of the date hereof, the $16.00 per Share in
cash to be paid to the holders (other than Bristol and its affiliates) of Shares pursuant to the Agreement is fair from a
financial point of view to such holders."


Very truly yours,
/s/ Goldman, Sachs & Co.
(GOLDMAN, SACHS & CO.)













BMY is just pay the same price as before the Financial downturn. Shareholders are getting ripped off!!!!

What about Fiduciary Duty on the part of Medarex?

http://www.medarex.com/Investor/documents/Medarex_14D-9.pdf
Goldman Sachs' Letter to MEDX Board of Directors (BOD) OPENLY Acknowledges that MEDX BOD Failed to Perform Its Fiduciary Responsibilities....


> STRATEGIC ALTERNATIVES NOT CONSIDERED......
--->> "Our opinion does not address the underlying business decision of the Company to engage in the Transactions, or the relative merits of the Transactions as compared to any strategic alternatives that may be available to the Company. "

> MEDX Board DID NOT REQUEST Solicitation of Other Companies......
--->> "We [Goldman Sachs] were not requested to solicit, and did not solicit, interest from other parties with respect to an acquisition of or other business combination with the Company."


Here, as I see it, Goldman Sachs openly acknowledges that the MEDX BOD did not perform its fiduciary responsibility, because:

1). It did NOT ASK GS to consider... "any strategic alternatives that may be available to the Company."

2). The MEDX BOD did NOT ASK GS... "to solicit, and did not solicit, interest from other parties with respect to an acquisition of or other business combination with the Company."

I think that GS stated these two points in their letter to the MEDX BOD, because they knew that the MEDX BOD did perform their Fiduciary Responsibilities to the shareholders, and did NOT want to be sued.

I think the MEDX BOD has utterly and completely FAILED to perform its FIDUCIARY RESPONSIBILITY to the shareholders of MEDX, and that Goldman Sachs' letter CLEARLY DEMONSTRATES THIS AS A FACT.




Take Care,

Jimmy B