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Two interesting "factoids" on this deal 1 BVF was their major share holder. Maybe BVF can help SUPG cut a deal ( i know wishful thinking) 2 This morning before the company was bought out for a 100% premium the genius analyst at Cantor downgraded the company to hold. Wonder how red his face is. Talk about bad timing
The best part is look at the volume... obviously someone knew yesterday that there was a deal. The reverse of SUPG's EORTC release. :) Oh sweet Biotech and the shadows of Wall Street...
this happened with MGI the analysts came out with down grades just in time for those in the know to get cheaper shares and the buyout announcement to happen
Point 2 is not true, the buyout was announced Tuesday afternoon, the downgrade was issued this morning. I'm sure the downgrade was due to the buyout announcement, a real brave call.