RLYP +11.70 to 31.80 on the takeover news. I still hold a bunch of shares that I fortunately chose not to write covered calls on after the July option expiration last Friday.
BERNE, Switzerland, and REDWOOD CITY, Calif., July 21, 2016 (GLOBE NEWSWIRE) -- Galenica Group (SIX:GALN) and Relypsa, Inc. (NASDAQ:RLYP) today announced that the companies have entered into a definitive agreement under which Galenica will acquire Relypsa. This transaction further strengthens Galenica’s Business unit, Vifor Pharma, as the company will gain full global rights to the potassium binder Veltassa® (patiromer) for oral suspension and enhance its growing position as a global specialty pharmaceutical company. Under the terms of the merger agreement, Galenica will pay $32 per share in cash, or a total of approximately $1.53 billion. Through this acquisition, Vifor Pharma will gain a fully-integrated commercial organization in the United States and significantly strengthen its presence in the U.S. cardio-renal market, a key area of focus.
RLYP was a nice find by Value1008 last November and I've trading and hedging around a core position ever since .....
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