Sold SanDisk
I sold my position in SanDisk (Ticker: SNDK) this morning at $78.33 on news that it is being acquired by Western Digital (Ticker: WDC). I was able to generate a net gain of 2.28% over a two day period. I had no intention to hold this one until closing. The companies are guiding for a Q3 2016 close, which is an eternity for a merger arb play. I did not find the annualized gain over this period to be attractive. It was time to move on...
posted by Money Turtle @ 8:47 AM
5 comments
5 Comments:
Special situation happening in generics - valeant taking the whole sector down. Took the opportunity to add to perrigo.
That's was a good call on PRGO with this morning's restructuring news.
the market took the news badly plus on going fallout with generic pharma with valeant but I am still bullish on it over the long time. Added more below 150.
PRGO will do fine... They are much more diversified than your typical generic drug company. This company usually does well as the flu season gets underway (they're big on OTC medication).
I will sell around 170 for perrigo or if spread narrows. I won't wait for the conclusion as mylan/perrigo merger going to be a messy affair.
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