Saturday, June 18, 2005

VITA gets a takeover offer

I had already profiled Orthovita (VITA) as a small-cap ortho name that I would like to get into in the $2.70 range. Shares were then around $3. Guess that's not going to happen. ANPI, which owns 11%+ of VITA shares offered $4.50/share in May and the VITA board said "no way." Shares have promtly rallied to about $4. This offer (and subsequent rejection) is obviously a huge factor to consider in setting an entry price. This is something I'll have to think about because I like the story so much. Maybe the $3.70's?

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