If you hold onto your shares until the acquisition closes on approximately July 1, 2014, you will be getting a $6.44 cash per share as an initial payout, plus $0.50 per share (based on CVR agreement) on December 31, 2015 if the sales total for Northera for FY 2015 exceed $100mil, plus $0.50 per share on December 31, 2016 if the sales total for Northera for FY 2016 exceed $200mil, plus $0.50 per share on December 31, 2017 if the sales total for Northera for FY 2017 exceed $100mil. If you believe that total Northera sales will exceed these figures for 2015-2017, then you should hold onto your shares until the acquisition closes. Right now the market is valuing $0.11 per share (based on current $6.56 pps) for 2015-2017 versus what the CVR promissory (not guarantee) could potentially payout. You decide whether you want the $0.11 per share now or wait for a maximum of $1.50 per share.
milestone payments based on sales targets. It stands for contingent value you rights, so as long as chelsea meats sales targets, shareholders will be reward 50 cents/share annually for up to 2015-2017 equating to the total $1.50/share CVR