YM BioSciences Inc YMI

Holy Takeover Premium!

[blueboy]

YM passed its 40-day moving average back in mid-to-late November so I picked up some shares.  Was hoping for a continued climb (I trade on momentum, using the 40-day MA), but an unexpected takeout is always better!  Offer at $2.95 and the share price at close yesterday was $1.66 - great premium!

BB

[blueboy]

More news coming out as the day progresses - Gilead purchasing YM for 2.95 per share with cash on hand (so no share exchange).  Since Gilead is paying with cash and not shares, not sure why the stock only close at 2.82 today - still 0.13 to go until 2.95...   BB

[mepecachew]

Shorts have to cover 3.50 easy>

[blueboy]

I don't see that happening with YM.  The takeover is at $US 2.95, which is closer to $CD2.90, so I don't see any reason it would ever trade higher than that as a rival offer is not likely given that this offer was at a 70%+ premium to yesterday's closer.  YM doesn't typically trade much in a day - how many YM shares were even being shorted?

[easymoney321]

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[RockLobster1]

easy... I thought you said Allen already was so we should dump YM and buy those others? I assume you followed your own advice if that was it?

[easymoney321]

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