I sold my position pre announcement at $11+, and I bought it all back and more under $10. I am enjoying the ride back up, and I expect to hold long term as I believe 4KScore is a game changer.
Could be a big plus for long time investors. It would also reduce the size of the drug development company which could open up the possibility of other deals for that unit.
Just about every mainstream Republican hates him. His only positive is he isn't Trump. His willingness to shut down the government in 2013 showed a distinct character flaw that will certainly arise if he gets the nomination in a brokered convention. As Larry Kudlow just said, all heck will break loose at the GOP convention if Trump has the majority of delegates, and the anti-Trump forces try to give it to someone else. I personally believe the Republican back room political types are just using Rafael, I mean Ted, to stop Trump so they can nominate Ryan.
Reportedly they will buy now. Interesting. Stocks like OPKO just got a little more appealing. Best to snap them up before they really get going, but Frost would never sell cheap.
It is possible, but a lot of positions are being unraveled due to deal's failure. The next couple of days should tell. PFE is probably going to do something else.
that inversion seems off the table. They could do much worse buying something other than OPK. However, I believe Frost won't sell until he gets OPK's price up much higher. The good doctor loves to make money.
Read the agreement to break-up the deal. Evidently, it was up to $400 million if a legal impediment nixed the deal. Reportedly both sides agreed to $150 million for AGN's legal fees, nothing more.
Most of us weren't crazy about the deal anyway.
When a company buys another they usually pay a premium. In this deal, PFE and its shareholders were paying the premium based on the way the deal was structured. I guess AGN could buy PFE, but they would then have to pay a premium, and I don't know where they would get the financing. PFE was only doing this for tax purposes.
If gov. regulation nix the deal, the break-up fee is only $400 mill for legal expenses. Both companies knew this could happen.
Analysts are coming out with their take on the deal. Most are just speculating, but one thought that AGN could fall to the $200 -$220 level if the deal falls apart. Makes sense to me as AGN benefitted from the hype that it would be a could inversion candidate which will no longer be the case if the Treasury has its way. If PFE tries to go ahead with the deal, I expect it will have to value AGN under $250 a share at the most.