The present offer is partially contingent upon the CDIS closing price at the TIME OF SETTLEMENT. The $46.33 price mentioned in the PR was based upon CDIS's Friday's closing price of $44.33. CDIS dropped today on the news & therefore REM it did not reach higher than it did. As closing date approaches the COF & risk factored into the price will also narrow. From now to closing, the price movement of REM should follow that of CDIS. Unless a new suitor appears, each REM share at closing will be $27 + 0.436 shares of CDIS. We can cash in our chips now; hope for a new offer to appear and/or hope that the price of CDIS rises. Until then GO CDIS!
That's all true, CDIS stock price is the difference. There is also about .75 for the arbitrage guys. It won't be 46.33 until sell date.
I still have alot of shares and it will take a while to sell. The stingy MM's don't seem to think there is any time value left in April 40 calls. 5 bucks is as high as they would pay today. At some point this week, we should get to $45.50 share price.
I am not as optimistic for another bid. REM is not a crown jewel. I will keep a few hundred shares for the chance, but I'm not that hopeful. There is little down-side risk now, so no worries.
My objectives were met with this stock. I bought alot of shares at 32-34. Nice gain. Options were well over 150%. I had one option on the screen today showing a 163% daily gain. You don't see that every day.
UPL is announcing their annual reserve update. You don't want to miss that...all IMHO.