Monday, February 14, 2011

More Big Lots and Genzyme

I added to my position in Big Lots, Inc. (Ticker: BIG) at $41.25 and Genzyme (Ticker: GENZ) at $72.30. I’ve seen numbers now higher than $49 for Big Lots so I’ll let this one play out. We should be hearing soon regarding the potential acquisition of Genzyme by Sanofi (Ticker: SNY). I don’t think they will change much from the initial WSJ reports of $74 plus CVR. It’s been a long saga and I don’t think they will haggle over a dollar or two to risk this deal falling apart. Both companies need each other and it’s time for closure.


I closed out my Big Lots position at $41.32 generating a 2% return over a 7 day period (102.86% annualized). I rolled the funds into more Genzyme at $71.99.


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