where to from here ?, page-26

I managed to sell my remaining CXSOA holding for a tiny overall loss. I could have done much better, but I couldn't see the options going to 14c. That makes no sense at all to me. Cephalon would have to lift their bid 20% (to 84c) just for that to break even.

It could be a high-leverage gamble that a) the Cephalon bid fails and b) current management manage to push approval through. Or someone knows something about a rival takeover.