What We’re Seeing From The Stock
As investors, one of the first things that we learn when we start to dabble in the market is that the news causes movement. Rarely do we see any news that has the potential to drive the value of a stock quite like acquisition news. So, with the news that Seattle Genetics will be acquiring Cascadian Therapeutics, and at a strong premium for that matter, it’s no surprise that CASC is making a run for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:47), CASC is trading at $9.95 per share after a gain of $4.05 per share or 68.64% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CASC and SGEN. In particular, we’re interested in following the acquisition. While the transaction has been approved by both Boards of Directors, it is still subject to customary closing conditions as well as regulatory approval. Nonetheless, we don’t see any reason this transaction would have any problems. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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