Hit #120 (Connetics)

Connetics (CNCT) is being acquired by Stiefel Labs for $640 million in an all-cash deal. The offer price of $17.5/share translates into a gain of 82% over my average cost of $9.62.

I had posted earlier in July mentioning that I was recycling cash from Serologicals takeover into Connetics. This buyout thus makes for a nice, and unexpectedly quick, compounding.

I will be posting soon about a few more buys I made recently with cash from just closed transactions.

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Previous hit - Icos (#119)