Wednesday, November 03, 2010

Back In Crucell Again

I’m back into Crucell (Ticker: CRXL) this morning at $32.30. I like to trade around the risk arb positions, but I’ll probably end up holding this one until closing. I don’t want to over trade this and miss the pop when they announce the results of the investigation. The Korean FDA will be reviewing the results of the investigation, which is expected for an event like this. Right now, I really like the Crucell / Johnson & Johnson (Ticker: JNJ) and the Genzyme (Ticker: GENZ) / Sanofi-Aventis (Ticker: SNY) risk arb plays.


At November 03, 2010, Anonymous Anonymous said...

You should hold it to the final closing or near that when the offer is put out for a vote. Given the offer price of 24.75 Euros and the weakness of the dollar, which may get even worse. The final price will be ~$34.75 if the Euro is $1.40 and more if the Euro is stronger. J&J is still getting a bargain and will not walk away from this one. I believe there is also a $25 million breakup fee.

At November 04, 2010, Blogger Money Turtle said...

Yeah, I’m hanging onto it… The weakness in the US dollar is definitely a bonus.


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