Ebb & Flow

While few are talking for the record, it's likely that Pfizer's $1.3 billion acquisition of Esperion (ESPR) just made life a little easier for the Durus group of funds and Scott Sacane. The key point is that the acquisition solves the liquidity problems that Durus brought upon itself by buying a third of the cardiovascular company in the open market. Prior to the buyout, there was no way the funds could have easily sold the stock without massively disrupting the market. Durus' stake now stands at 29%, thanks to the company's 4.4 million share follow-on in August.

"Durus, along with the other shareholders, will tender their shares," said ESPR CFO Tim Mayleben. ...