A Little Salix Pharmaceuticals

Yesterday, I picked up a few shares (~ 5% position) in Salix Pharmaceuticals (Ticker: SLXP) at $152.77. So far we know there are at least three potential acquirers: Valeant (Ticker: VRX), Shire (Ticker: SHPG) and Endo (Ticker: ENDP). I view the likelihood of a deal as high and so far all signs are pointing to Valeant as the likely acquirer. I can see a 10% premium from the current price. This is a pure speculative play on my part so we’ll see…