SOLD SATELLITE HALF POSITION IN CELGENE AT $94.34 (CELG-US)

APRIL 10, 2019 SOLD SATELLITE HALF POSITION IN CELGENE AT $94.34 (CELG-US) JUSTIFICATION: Celgene is in the process of being acquired by Bristol Myers at $50 + one share of Bristol Myers. Bristol is currently trading at $46.22, therefore based on the current price the offer is worth $96.22 and given that the deal may only close in a few months, we prefer to take the slight discount and move on. We bought a half position in Celgene at $116.95 in June 2017. WHO IS CELGENE: Celgene Corp. is an integrated global biopharmaceutical company, which engages in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory disease.