Seeking Alpha

What I'm about to describe is basically a free option that's available in the market. This free option is present because of a special situation.

The situation is that Maxygen (MAXY) is going to be dissolved. After a long and fruitful career where it distributed more than $250 million to its shareholders, and having received a final $30 million payment from Bayer in May 2012, the company decided in June 2013 to proceed with its own dissolution.

Herein begins out story. First, the company has estimated it will return $68.2 million and $69.6 million, or between $2.45 to $2.50 per share, to its shareholders. This is supposed to happen in Q3 or Q4 2013. The...

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