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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