Tuesday, July 09, 2013

Sold Onyx and Nibbled on Money Gram

I sold my position in Onyx Pharmaceuticals (Ticker: ONXX) today at $134.79 generating a net gain of 2.98% over a 9 day period (~ 119% annualized return). It’s still very early in the game with this auction process so I believe there may be a more opportune times to get into the position.

I initiated a small position in Money Gram International (Ticker: MGI) at $23.00. It looks like this buyout is progressing and should hear in a few weeks regarding a potential deal. This one has both strategic and private equity players looking at the company.

As in poker, I'm playing very tight right now...


At July 12, 2013, Anonymous Anonymous said...


News out on ELAN per reuters. What can you tell us about FRX or AGN as solid potential bidders for ELN? What type of acquiring history do they have? Would they benefit from the Irish Tax advantages? Thank You.

I am still hanging in there with OPTR. I may add some comments here this weekend.




At July 12, 2013, Blogger Money Turtle said...

I'm a bit surprised that AGN would go after ELN. I see AGN more as a cosmetic type company with their Botox and dermal filler products. Probably just going after their lower tax rate. I see FRX as a more credible acquirer for ELN than AGN.


Post a Comment

<< Home