Yesterday, I wrote about a modified dutch tender offer on Sanofi (SNY) CVRs (GCVRZ). Today, the results were announced. Only 40,025,805 of the 86,766,040 shares the company was offering to buy were tendered at the maximum price of $1.75. It seems people are looking for bigger payout on the hopes of the drug Lemtrada™. Today the shares are trading at $1.77.
See the Sanofi press release here.
Disclosure: I do not own shares of SNY or GCVRZ