Wednesday the PBTH voting results will be released which will drive OPK to a new high. Expect some upgrades late Wednesday or Thursday. Also, Frost has stopped his unprecedented buying streak of OPK shares for nearly a month now. He will likely start buying again once this deal is finalized.
Only a tiny amount of votes in PBTH votes are needed for the merger to go through when accounting Frost's share of the company. I highly recommend adding some PBTH shares to your OPK holdings to enjoy a nice premium!
Exert from Globes.co.il:
"Frost is the biggest shareholder in both Prolor and Opko, owning 26.5% of the former and 50% of the latter. In contrast to Israeli law, under US law, Frost and his associates who are parties at interest in the deal are not banned from voting on it. This means that the vote by Opko shareholders is essentially a done deal. As for Prolor, the parties will have to secure a third of the independent shareholders to approve the merger.
"Although Frost initiated the merger, he was not personally involved in the negotiations, which were managed by a team of external directors of each party. The law therefore allows Frost to vote as an ordinary shareholder," Prolor president Shai Novik.
Frost has bought Opko shares since the merger was announced. He bought shares in the company in previous years, but picked up the pace following the announcement, helping boost the share price. This also affected the company value of Prolor for the deal, which will be through a share swap. The purchases also boosted Frost's stake in Opko to over 50%, which means that he can decide the vote on the merger by himself.
At the same time, Frost also bought shares in Prolor. "I am buying Opko because it's a good investment and Prolor because it's like buying Opko at a discount," he says.