Monthly Archives: October 2015



Theravance (THRX) – Odd Lot Tender Offer – $40 potential upside

Current Price – $8.85;

Offer Price – $8.5 – $9.25;

Upside – $40 or 4.5% (if the upper pricing limit is used);

Expiration date –  1 December 2015;

No proration for odd lot holders;

SEC Filling

Summary:

We are conducting this Offer through a procedure commonly called a “modified Dutch auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your Shares. The price range for the Offer



General Electric (GE) – Split-off transaction – $216 expected return (potential for $600 return)

Current Price – GE $29.03, SYF $31.32;

Offer Price – $1.0753 stock of SYF for $1 stock of GE (subject to upper limit of 1.1308 SYF shares per share of GE);

Upside – 7.5% or $216 for Odd Lot holders (if price differential increases towards upper limit – as happened with other recent split-off transactions – the return will be c. $600);

Expiration date – November 16, 2015;