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Strategies & Market Trends : Speculating in Takeover Targets
CTG 8.470-0.5%Jan 21 4:00 PM EST

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To: richardred who wrote (2633)12/15/2010 11:02:13 AM
From: richardred  Read Replies (1) of 6147
 
Cypress jumps on buyout deal

BOSTON (MarketWatch) -- Cypress Bioscience /quotes/comstock/15*!cypb/quotes/nls/cypb (CYPB 6.46, +0.71, +12.32%) shares jumped 12% to $6.47 early Wednesday on news that it has agreed to be acquired by Ramius V&O Acquisition LLC and Royalty Pharma for $6.50 a share, or $255 million. Ramius, which already owns shares of Cypress, said the buyout price represents a 160% premium over Cypress' last closing price before Ramius disclosed it was interested in buying the biotech company in mid-July.
marketwatch.com
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