I'm surprised anyone is still pumping Enzo Biochemical stock. A company which produces nothing except lawsuits, and pays it's executives an obscene amount of that lawsuit revenue.
Thanks for the insights. Next time I'll read the proxy. This deal officially closed today after the close at a price of $76.13.
I'm wondering why the FTC did not stipulate that Life Technologies resolve their outstanding judgment levied against them for 61 million awarded to Enzo Biochem? There was no mention of this in the article about the approval of TMO buying LIFE. Interest is still accumulating daily. If anyone can answer this it would be much appreciated.
Not true dude...read the fine print..Why pay a commission to a dumb broker when the deal is done???? you get interest on any delays...just wait it out.......
Sure, that's what is nonsensical. The deal included a ticking fee which started on Jan 14th of ~$0.006/share per day through the day the deal closes if it was because of regulatory approvals and the company did nothing wrong.
Hmm. Yes, later than I expected. However my post on 1/7/14 was more to express the idea that this was not a good stock to short, rather than give an estimated time frame on the Thermo purchase. Not sure why the price went past the purchase price yesterday, other than someone had some buy orders preset, not really understanding that the company was being sold. End of week, perhaps?
Looks like tomorrow is the day, and the extra couple of cents is just interest. If you sell in the market, you might get 1 or 2 cents above $76, but you won't get your money until 3 days out (on settlement day). Whereas, those who are long may get their cash tomorrow.
Don't expect a big dip that you can short and cash in on here. the sale of Life to Thermo for a voter approved purchase price of $76, should go through within a few days.
Co reported that a Federal Court Judge in New Haven, CT, in connection with the favorable November 2012 jury finding of direct infringement damages of Enzo patents by Applera, now Life Technologies (LIFE), has awarded the Company prejudgment interest of $12,428,729, bringing the total award to in excess of $61 million.
Additional post-interest on the full amount was also awarded starting November 7, 2012 until the total judgment is satisfied, which, it is estimated, could add several additional millions.