Synergy Pharmaceuticals Inc (NASDAQ: SGYP) is off to a pretty strong start in the trading session this morning as investors try to gauge whether or not the most recent takeover chatter is true. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:14), SGYP is trading at $4.00 per share after a gain of $0.04 per share (0.88%) thus far today.
Rumors Of An SGYP Takeover Break
As mentioned above, Synergy Pharmaceuticals is off to a relatively good start to the trading session today after rumors broke that the company could be taken over within the next 3 to 5 weeks. According to the rumors, Takeda Pharmaceutical Co is interested in taking the company over. However, the rumor goes a bit deeper than that. It suggests that 3 suitors are interested in the takeover.
Takeda leader in talks with $SGYP....3 suitors total, deal announced within next 3-5 weeks max is note on desks. This is done deal imho.— Joseph Sagami (@biotechshort) May 16, 2017
The truth is that this sounds a lot like the rumor we reported on a couple of weeks ago, one that turned out to be invalid. This points to something of importance here. At the end of the day, we see takeover rumors in the market all the time, and very few of them prove to be true. So, take it with a grain of salt. Of course, if you're going to trade on this rumor, please be sure to do so with caution.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SGYP. In particular, we're interested in learning if there is any validity to the rumors that are surfacing. Of course, if there is, a takeover would likely return incredible value to shareholders. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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