Tabhair

@IGcom If you are unhappy with this move, I suggest you make your feelings known to @IGcom here or e-mail them at helpdesk.uk@ig.com. This is not a positive change, particularly if you trade in illiquid securities.

Buried in the small print, @IGcom are going to remove the ability to request a quote on UK stocks. This is going to be extremely harmful for any of you who trade UK small caps, especially illiquid ones where you depend on being able to get an instant quote from the market maker.

Zurzuvae now officially available in Japan. First sale should occur imminently which will trigger the initial $0.50 tranche of the Sage Therapeutics CVR.

@ebert_io Alright, I've paid up and am going to give you a whirl. It's only been a day and I've already gotten QuickFS withdrawal symptoms. I hope this venture works out for you.

@tabhaircom Thanks! Using GuruFocus, same source as QuickFS. Bought the license. Can't really prove that, but rest assured I'm bleeding money

I'm building FastFS now, so we'll have an alternative to our soon-gone beloved QuickFS. Play with it: fastfs.org This is day 3 of building. So far doing 10 years of filings data and derived ratios for US companies on NYSE and Nasdaq. All data coming from the SEC (which is a problem, kinda). Next: quarterly data and price metrics. Goal: by day 10 make it good enough to fill the QuickFS-shaped hole in your heart. If you spot bad data or have ideas, hit me up. PS: Complete Twitter greenhorn, so bear with me if things get weird.

@CapitalPmh @VOXmarkets @harwoodcapital It would be great to get their thoughts on Treatt, specifically whether they expect the company to continue as an independent entity, or whether Dohler (or someone else) is going to push for a sale, or some other sort of restructuring of the business.

Live at 11am Wednesday 14th Jan on @VOXmarkets for a New Year special, I have the pleasure again of discussing all things small/midcap stocks with star fund managers Christopher and Nick Mills of @harwoodcapital . As usual we'll try to answer any of your investment questions too. Everyone is welcome. youtube.com/watch?v=amDy_b…

Biogen also recently reported 3rd quarter earnings. Zurzuvae showing strong growth. It's still too early to say, but it does look like there's a real chance that revenue targets that could trigger the other $3 of the CVR. Fingers crossed this lottery ticket pays off.

Some good news for holders on the Sage Therapeutics CVR. Zuranolone/Zurzuvae has been approved by the Japanese authorities. First part $0.50 of the CVR looking good to be triggered now.

@davidmcw Richer for whom? You don't have to earn much (€70k) to be subject to a marginal rate of 52%+ income tax in Ireland.

As Ireland has become richer, more Irish people are heading to Australia - mailchi.mp/davidmcwilliam…

@dopamine_uptake @privatetrader07 @CapitalPmh The most likely scenario now is no deal at all. There's a real chance the share price will crash, a new management team is needed, and a profit warning will come. I have sold my position. Hurts to take a ~1% loss, but the facts have changed here and the risk has increased.

@privatetrader07 @CapitalPmh @tabhaircom Does it matter if Dohler have enough to block any deal, which they nearly do now

#TET Does anyone have any ideas for the fall in Treatt shares to 254p compared to the Board agreed bid of 290p from Natara? Has a big shareholder (eg Dohler 10%) decided to either block or vote the takeover down?

@MarioGabelli I would have said it's still a skinny enough premium, but short of another party bidding, it might be the only option. What do you think though, Mario? Your firm holds a position of over 1.5%. Will you vote in favour of the deal next month?

Deals,deals and …this one is a “bump in deal price”___Treatt(TET-LN) new proposal is 290p up from260p …sweet enough?

Natara may decide 260p was their best bid, they may walk away. Also a chance Dohler are happy to sit on their 10% stake and not bid. Monday should reveal all for Treatt £TET shareholders regardless.

Looks like the Natara 260p bid for Treatt is officially dead. No scheme document published within 28 days of bid, no extension requested. Natara needs to increase their bid or the offer will lapse or be withdrawn on Monday, at which point Dohler will be free to bid.

Dohler emerges with a 10% stake in Treatt this morning with the claim they're not bidding on the company. Fine print however suggests that they are free to bid should the Natara deal fall through, which looks inevitable unless the offer is increased.

It would seem a second bidder for Treatt has entered the bidding war, German competitor Dohler takes a 3% stake. I have topped up and am outrageously long - investegate.co.uk/announcement/r…

@sequentanalyst Agreed, this deal is incredibly vulnerable. Interesting to see many special situations and event driven investors getting involved. I think it's much more likely than not we get another bid. Happy to punt at these levels.

Treatt shareholders - companies are only very rarely stolen and #TET is definitely not one of them. Over 75% have to vote FOR this bid, irrecovables are deminimis, and its a very retail heavy register. Not hard at all to find 25% to reject the bid.

Lots of interesting movement in the share register of Treatt £TET since the recommended offer. Hedge funds and special situations investors buying above the offer, Lord Lee expecting an increased bid. Irrevocable support for the deal just 0.04%. Personally I am buying.

@ClarkSquareCap A case was opened by the UK financial regulator against me after I called into question some of the practices of a publicly listed company (which essentially went to 0) called Purple Bricks.

share a piece of investing lore about yourself

$SAGE rejected $9 a share plus a $4 CVR ($2 of which looked likely) in favour of $8.50 and a $3.50 CVR ($.50 looks likely). Shocking decision from management.