Don't get me wrong, I'm long a huge position from the low 30s, but I'm also cautious. Everyone's counting on someone to come along with a higher bid and make a fight out of it - well, I'm not there yet. IMO, they overpaid for us anyway, so I don't see a bidding war happening. Having said that, bring it on if someone is so inclined. :)
In any event, I've taken 1/3 off at $96.71. Let's see how it plays out.
I don't know. GS thinks it's a good deal for ACT. Yes, it's a big price - but FRX has characteristics that appeal to every drug company: a great sales force and huge growth predicted. I wouldn't be surprised to see a competing bid. Probably smart to take some off the table here - but, if you believe in GS's analysis, I have to think that other suitors are at least looking at FRX. Alternatively, someone might make a bid for ACT.