Cypress Bioscience, Ramius LLC deal

In a letter to Cypress shareholders, Ramius expressed disappointment about the decision by Cypress' board earlier in the week to unanimously reject an unsolicited tender offer from Ramius to acquire the 90.1% of the biotech it does not already own for $4.25 per share in cash. Ramius also expressed concerns about the "legitimacy and authenticity" of the board's review process. ...