As some of you may know, Shinogi has managed to acquire at least 90% of all ordinary shares in C&O. It will now acquire the remaining shares that have not been tender at the offer price.
I did a quick calculation and my cost of purchasing 9,000 C&O shares was $4,501, $67.50 dividends in between, while the offer will give me $4,500.
This means that during the same period I have been holding on to the shares, the STI lost about 15%, I made a 1.5% gain!
A 1.5% gain is nothing much, considering that there are opportunity costs that I did not factor in. Also, I am a bit sad to have to lose a drug-maker in my portfolio. Nonetheless, C&O's share price had been languishing for a very long time, and Shinogi looks like a white knight on hindsight.
I will have to email the company to find out when my shares will be acquired and when the money will be in the bank. Hunting season begins when I sort that out.