Icagen, Inc. (ICGN)

[surf1944]

It is a buyout & at the current stock price it may be considered a take-under, this is why you take profits in bio tech when they have big moves. Trying to get that last penny usually makes little sense.

8:31AM Icagen to be acquired by Pfizer (PFE) for $6.00/share (ICGN) 7.75 : PFE and ICGN announced that they have entered into a definitive merger agreement. PFE, which currently owns approximately 11% of ICGN's fully diluted shares, will acquire the remaining 8.3 million shares at a price of $6.00 per share. The aggregate transaction value, including the value of the shares currently owned by Pfizer, is approximately $56 million. Briefing.com note: Although the $6.00 per share ICGN deal is below yesterday's close of $7.75, it is still well above the $2.40 price where ICGN was trading on 6/24, prior to announcing that PFE was evaluating the possibility of entering into a strategic transaction with ICGN.


casetheace
Share Thursday, July 14, 2011 1:22:52 PM
Re: invest2win post# 268 Post # of 300
Bad sale, this stock has gone up on Pfizer buying it from the get go. Today was just another technical issue done before the merger. You must be nuts to sale. You have any idea what the pps might be on that merger. Both companies have openly admitted there talking and both want to merge. That's why three weeks ago it went to 3 to 6..then has drippled down on peps who are in patient. Pfizer has no choice but to merge and buy after all there companies lost there fda approval's on oral drugs. Pfizer needs them so bad. Should be out Monday morning that's when they announce merger news.

Dropping MOD position, another bio tech company gone.