I remember David Blech in Sept of 94 on the ropes. he cleared thru BSC, and they murdered him. Sepracor eventually went to $150. But it was a nickel that day. I still don't trust the Government not pulling all the stops out and holding it up for a while. Such a friggin' wild card. Cant' wait. I llive for this stuff.
Care to wager? The point was that this take-under was a foregone conclusion. That was the whooshing sound you heard as you read my post. $20/share. I sold the Apr 30 straddle at 18.00.
At $2 a share for BSC and his breakeven at $12 (right?) its a pretty decent loss... ...but one I'm sure Atticus will come back from.
now what the hell happened to thsi $80 book value??? I'm shocked that JPM paid $2 since the garbage they own is no bid