Tuesday, October 20, 2015

WuXi Update and Some SanDisk

The definitive proxy for WuXi Pharmatech (Ticker: WX) was filed today with a shareholder vote scheduled for November 25th. Everything is on track with the company guiding for a Q4 close.

I took a stab at SanDisk (Ticker: SNDK) today at $76.58 (~16% position). I know I’m a little late to this one. Bloomberg has reported that the company is in advanced discussions with Western Digital with price talk of $80-90. It looks like a deal will likely occur…

Edit: I re-entered my position in AirMedia (Ticker: AMCN) today at $5.45 (~3.3% position).


At October 21, 2015, Anonymous Anonymous said...

With WDC dropping a lot yesterday, a deal for SNDK still goes through?

At October 21, 2015, Blogger Money Turtle said...

The companies announced the deal this morning. Mostly for cash, but cash component is based on the timing in the closing of the Unisplendour investment in Western Digital.

At October 21, 2015, Anonymous mergerpie said...

I took a small position last week around 71 and sold out today. Market was too sceptical but I may revisit it later next year. Keep a lookout for the sec filings for the unisplendour investment and the expected dates for approval. If the unisplendour deal is approved, the whole merger arb will become almost all cash at $85 plus abit of WD stock. I believe the approval of unisplendour will cause the merger spread to come down quite a bit.


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