Aurinia Pharmaceuticals Inc (AUPH)

[nsomniyak]

Moose - while I think there is little likelihood that the presence of this jet in the US signals interest in AUPH by Novartis, there is some precedent.

Back in the day (1984 - before the internet, when dinosaurs ruled the earth), there was an article (WSJ?) about how one astute investor made a windfall exactly this way.

T. Boone Pickens had offered $72 per share for Gulf Oil. After some bluster about wanting to stay independent, it became clear that Gulf was going to have to sell out, and the only question remaining was whether a better bid would emerge from a "White Knight". The investor was sitting in a plane at the Pittsburgh (Gulf HQ) airport and saw a SoCal (predecessor company to Chevron) corporate jet there on the tarmac. Taking a flier, the guy bought a bunch of GO call options and profited handsomely when SoCal offered $80 per share a couple days later.

So - while unlikely, it can happen.