Keryx Biopharmaceuticals Inc fka KERX

[FredKerx]

Yesterday I posted that Blackrock Inc. filed (January 2017) form SC 13G/A disclosing ownership of 68.2 million shares of Sanofi or nearly 6% of the company. The post goes on to read, “To give you and idea of what that means in terms of BOD and voting rights, Sanofi’s TOTAL institutional ownership is nearly 10%.” Well, seems I overlooked a Feb. 8, 2018 Blackrock SC 13G/A filing where it discloses not 68.2 million but 84.9 million shares of Sanofi or 6.9 ownership. This scenario potentially repesents a very close relationship between Blackrock
and Sanofi.

https://www.streetinsider.com/dr/news.php?id=13782187

Yesterday, poster Dave makes reference to Blackrock “going dark” with a VERY recent 13G filing, 4 days ago, March 5, 2018, disclosing a decrease in Kerx holdings from 6.1 million to 5.9 million shares to put Blackrock just under 5% ownership or 4.96%. Poster Dave notes, “holdings slightly below 5% ? Will this allow them to take a much larger position without immediate disclosure”...”attempt to veil a much larger next move ?” What this potentially means is that Blackrock may be looking to triple down, quadruple down, or more on Kerx holdings, some 20 million shares or more. Now, where would those shares come from? Well, there’s the $100 million on shelf which, if placed at say $5, that’s 20 million shares.

Now, going back to the assertion/belief that Sanofi has ownership in Kerx via institutional 3rd parties acting on its behalf, and given the seemingly close relationship Sanofi/Blackrock (see above), Blackrock could potentially be representing Sanofi. But, the assertion/BELIEF considers not only Blackrock but also other institutions like State Street, Vanguard, Clearbridge, and a few others. So, if Blackrock “veils a much larger move” (as per poster Dave’s comment) of say an increase from current 5.9 million to 25 million shares, along with SS/Vanguard/Clearbridge and a few others, holdings could potentially reach some 55 million shares PLUS possible open market purchases, PLUS there’s the remaining $73.2 million from $75 million addtl. supplement (some 15 million shares at est. $4.75) - some 70 million shares total. Baupost/Abrams, including conv. notes, at 68.9 million. See where I’m going with this? Obviously, all the before mentioned responds to hypotheticals and estimated #’s, but it could happen. Finally, IF IF the before illustrated hypothetical scenario should play out, an underlying good housekeeping question would be: Are Sanofi and Baupost in harmony, or is there a hostile environment? Get it, hostile?

Look, let me be clear, no matter what my differences with poster Dave might be (have my reasons), with the exception of when he “acts out” due to bad coffee intake in his area of engagement, poster Dave is a sharp dude.

ALL, in my opinion