The price they intend to pay sucks, and if you are like me, you will vote against the deal. There ar no Institutions or insiders who own enough shares to swing the vote towards the current price. I find the company signing a definitive deal before asking shareholders, a breach of their fiduciary duty to shareholders
At least they should arrange for the right price. And that one is more likely 4 bucks then miserabel 3. They get a huge amount of patents and Gilead is knowing that. I would not be to astonished if they have an inside and see that this is much better then jakafi.
If you assume an 8 cent delta then .08/2.87 *100 =2.79% in 2 to 3 months represents a very good yield for a 3 mo investment.is 2.78% based on a 1 year =11.15%. Can not get this type of yield elsewhere.
Arbitrage may have accounted for much of the buying on day one, but more shares have been sold the past few days than the float. Some have not sold, so either the buying now isn't arbitrage or quite a bit on the first day wasn't. Guess it could be Gilead. If the buying doesn't dry up soon, something else is going on.