I initiated a small position in ICU Medical, Inc. (Ticker: ICUI
) today at
$67.22. Bloomberg has reported that the company has hired JP Morgan to evaluate
a potential sale. Analysts have mentioned a buyout price of $80 plus, which I
tend to agree is a reasonable price. I believe there’s a good chance that a
deal materializes. This company will appeal to both strategic and PE buyers. It’s
going to take some time, but I’m comfortable with a small position for now.
It was a wild day with Warner Chilcott, PLC (Ticker: WCRX
reported this morning that Warner Chilcott was in talks to be acquired by Actavis (Ticker: ACT
Inc. I took a stab at Warner Chilcott at $17.68 and got out at $18.67
generating a 5.52% gain. This one was just too speculative to hold on right
now. Warner Chilcott has been shopped around extensively in the past and could
not find a buyer. If a deal does not materialize with Actavis, it’s over and out
for Warner Chilcott. I’ll definitely be keeping a close eye on this one.