Still more red on the way, more selling for the short term. A SELL RATING out now from Sierra World Equity Review
In a response to the topic “Merger Date”, there was a post by Ed Streltsov on Nov 22, 2013 at 11:47 AM. He states:
“Two things are involved:
Offer was announced at the time Perrigo was at 150 and more important is
ELN's board doesn't accept proposed settlement amount imposed on SAC hedge fund.”
He seems to be suggesting that ELN will be involved in some sort of settlement associated w/ the SAC scandal. Is that a fact?
Is ELN to benefit by the rouge traders’ criminal activity?
That seems somewhat far-fetched to me…
By the way, I think PRGO had closed somewhere around $132 the Friday before the Monday announcement.
I don’t know where he came up w/ $150…
IMO: Since ELN shareholders will get a fixed share conversion, the ~$22 rise in PRGO PPS in the interval is to their benefit…
Two things are involved: offer was announced at the time perrigo was at 150 and more important is eln's board doesn't accept proposed settlement amount imposed on SAC hedge fund.
And we all know how accurate Sierra world equity is. Good luck to you I'm bailing somewhere between 19.50 and 20.00.
I sold a third of my shares in ELN just a couple of days prior to the prgo bid in the $9. range to buy Apple, I averaged $6 cost basis and yes, I am pretty sick too.
But then again, I sold American airlines stock at $3.60 before the runup to $13... one of those things!
Sink your teeth in, get on this train, a BUY RATING issued tonight by Sierra World Equity Review
Slight correction is overdue here, not long though. A sell rating out today from Sierra World Equity
The entire proceeds of the transaction are taxable (whether long term or not)
Proceeds = total of cash received + value of PRGO shares received (as defined on the date
of the merger)
Don't forget to adjust your cost basis in Elan (if you are a long term holder) by the recent