Celgene, (CELG) one of our larger holdings has made a multi-year high and is approaching the all time high set in 2008. Today the stock moved on the rumor that Novartis (NVS) may be interested in purchasing the company for a huge premium at 115.00 per share price. Though I do not give much credence to rumors, this one seems to make sense on several fronts. The combined companies would become a Hematology leader worldwide. Below is a chart of CELG.
Bottom Line: The overall market is moving nicely to the upside and CELG has just broke out to a new multi-year high is can now challenge the all time high of around 77.50. Today's buyout rumor does make some sense, as the two companies CELG and NVS would have a nice Hematology worldwide product line. Thank you for stopping by.
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