Well if you follow the chain above you will note that I commented that an agreement to buy Given was accepted and signed. Since then several law firms are filing suit against the company and board for failure to execute their fiduciary responsibility of getting the best deal for shareholders. The deal price is $30/share. Given has been expecting FDA approval of their PillCam Colon product in the USA before year end. I was hoping that event would occur first before any buyout offer, as I was guessing such approval could boost the stock upwards of 20%. A buyout would then have to take that into account. So I agree that the offer was probably too low, but I'm not mad at all. There was a large price increase due to the offer.
However, I've sold all of my shares to lock in a gain of around 98% for the past year. I'm very happy with my profit and don't want to wait on uncertain legal action. Additionally, there is a strategy to this. There was another buyout/merger action in January, but it fell apart leading to about a 20% price drop. I bought the stock shortly after that. So if these legal actions that are now in progress cause the deal to fall apart, I just might jump back in if the drop is sufficient, like 20-30%. This would be especially attractive if FDA approval of PillCam Colon is still in the near future. That approval along with another FDA approval on a different PillCam product received just a few months ago in the USA and Japan, should add very nicely to the revenue stream for 2014. So I think it's a good stock to sit in for a while longer if the sale flops. Apparently some big equity owners are pushing hard for a sale, so there's another opportunity if this sale flops.
It ain't over until it's over.