|To: tuck who wrote (31)||8/16/2010 1:45:56 PM|
|From: Paul Senior|
|I saw that about CYPB from the FRX thread, where there's some suggestion that FRX could do very well by making an offer to take out CYPB.|
Seems like there's a couple of ways this could end up.
Assuming it won't be status quo, and that the implied value of the company might be surfaced, I'm in a/o this morning with a few share buy of CYPB.
Jmo, and I've been wrong many, many times.
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|To: Paul Senior who wrote (32)||8/16/2010 3:12:29 PM|
|Another interesting one (haven't dug deep as cash is tied up for a few weeks) is the AYE/FE deal. It's a stock swap, so the short the acquirer long the acquiree strategy is the way. Supposed to close in a month. Premium seems very high (~100% annualized before transaction costs), but I haven't seen the reason for it. Ah, a brief search shows the expected closing date is way off; Dj apparently based it on the date of the shareholders meeting. But various agencies have to approve of it in various sates, and management seems to be talking first quarter of next year at the earliest.|
Currently in GLG, which closes in about a month. I see no issues with that one, but return is correspondingly small, ~8% in six or seven weeks.
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|To: D. K. G. who wrote (36)||11/22/2010 8:08:03 PM|
|From: Paul Senior|
|BNE. It's seldom that I've seen a stock trade at the take-over price before the deal closure date has been announced. Maybe only where people expected a higher offering price to come.|
No rumors/suggestions that I see though of a higher price for BNE.
Closing date has not been announced. Apparently, imminently though.
With the stock at $12.50, i.e. at the buyout price, I've just paid the small broker commission and sold all the shares I've held in one of my accounts. Bird-in-the-hand kind of thing.
My buy price in this account averaged 12.08, and that turns out to be a 3.7% gain in exactly 90 days. From my perspective, that's very satisfactory. Plus we got the $.055/sh dividend for the quarter. Brokerage expenses for me were minor.
So my thanks for mentioning BNE here! I was fortunate to have seen it and to have acted on it.
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