Bought Some: The Medicines Company

I’m just doing some very low risk arb trades now as we limp towards the close of the year. I nibbled on some The Medicines Company (Ticker: MDCO), which is being acquired by Novartis (Ticker: NVS) for $85.00 per share in cash. This deal has already received FTC approval, so risk of this deal breaking is minuscule. I acquired the common stock at $84.70, which will equate to a net gain of 0.3590% or annualized return of 6.80% (assuming cash hits the account by January 10th). This is ~ 15% position. I figure this is better than the rate I am earning in my money market account.