Normally I'm thrilled to see one of my portfolio companies get bought, particularly when that was at least part of the initial purchase thesis. And yet, I cannot whole-heartedly celebrate Monday morning's news that Accuray (ARAY) is acquiring TomoTherapy (TOMO) for $4.80 in cash and stock.
Oh true, I am going to show a profit on this deal. Assuming that the $4.80 price holds up (part of the deal includes Accuray stock), that will be a 32% return for me in just 10 days of TOMO ownership. That is certainly nothing to complain about, but I am going to complain anyway.
Please read the full piece at Seeking Alpha:
http://seekingalpha.com/article/256773-accuray-acquisition-undervalues-tomotherapy?source=mc_all
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