13F filings have arrived and it’s like Christmas day for me. I’ve been pouring through the filings, tweeting the interesting ones, and probably annoying everyone on twitter. These filings are a great idea generation tool, a starting place for due diligence, and way to get a peek at the focus of the best minds in […]
CBSTZ: New developments for Cubist CVR
A quick update on CBSTZ the Cubist CVR. Today Cubist filed an 8-K notifying CVR holders that it intends to purchase all the CVRs at $0.059225 on February 2, 2015. This is known as a “Failure Purchase Notice”. Below is a link to the 8-K: http://www.sec.gov/Archives/edgar/data/912183/000110465915000010/a14-26868_48k.htm This outcome is listed as a possibility in the […]
CBSTZ: a low probability, high impact special situation
This week started with a merger Monday. Cubist Pharmaceuticals agreed to be acquired by Merck & Company for $9.5B including assumption of debt. CBST traded like one would expect on Monday, just below the offer price. However, a Contingent Value Right (CVR) with the ticker CBSTZ traded up to $0.081 on Monday, which represents a […]
