Monday, July 21, 2014

Idenix: Almost There...

Today, Merck (Ticker: MRK) announced that it has received HSR approval for its acquisition of Idenix Pharmaceuticals (Ticker: IDIX):

“At 11:59 p.m., Eastern time, on July 18, 2014, the waiting period applicable to the Offer and the Merger under the HSR Act expired. Accordingly, the condition of the Offer relating to the expiration or termination of the HSR Act waiting period has been satisfied.”

It looks like this is on track to close when the tender expires on August 8th. I’ve been adding to my common at ~ $24 and have a full position (also sold out of the money Puts). Now just make sure that a black swan does not show up!

2 Comments:

At July 28, 2014, Anonymous Anonymous said...

Hi
Very interesting ipo coming this week tobira therapeutics. Do you have any opinion? Thanks
Aapltrader

 
At July 29, 2014, Blogger Money Turtle said...

I haven't played any of the biotech IPO's. I don't see anything that appealing about this one. It's a small IPO and the sector is hot right now. I would flip this if I were to play it.

 

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