Wednesday, July 15, 2015

Seeking Alpha: Receptos Bows Out

The Receptos (NASDAQ:RCPT) story, at least as an independent company, looks as though its coming to a graceful end for shareholders. Rumors of M&A interest have swirled around this biotech for some time now, and rumor became fact on Tuesday when Celgene (NASDAQ:CELG) announced that it had reached an agreement to acquire the company for $232 per share in cash.

Celgene is offering a fair price and you don't often see bidding wars for publicly traded biotechs. "Don't often" is not the same as never, though, and I wouldn't completely dismiss the possibility of another bidder entering the fray. That is not my base-case assumption and I'm not suggesting investors buy Receptos shares now on that basis, but if I were a Receptos shareholder I might think about hanging on for at least a little while longer to see if any rivals emerge.

Read more here:
Receptos Bows Out

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