Dear Diary,
The AHG money showed up in my brokerage account 2 days after the stated closing date, just as expected.
HUN has seen the banks try to walk away from the deal they had to sell out for $28 per share, so a law suite is going forward against the banks by the buyer, Apollo Group (Hexon). Meanwhile, HUN is negotiating to try to get the closing price down to about $25.25 per share after the judge in the case ruled that the deal must go through as planned. I like the internal economics of HUN well enough to own it at $8 per share, like the "cigar butt" that Mr. Buffett often references. In a Graham styled "cigar butt" deal, you are simply buying a company so cheap that losing money becomes hard under any circumstances. I'm looking at book value here of $8.50 a share in "Value Line."
Gene
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2005, In Front of IRS Building, Washington, D.C.
Diary of a Business Investor
Gene Chapman
2005, In Front of IRS Building, Washington, D.C.
About Me
- Gene Chapman, Author
- P. O. Box 295545, Lewisville, Texas 75029
- MahatmaGandhiGlobalLibrary.blogspot.com or LibertarianGlobalLibrary.blogspot.com gkchapman2012@hotmail.com "Creating World Peace One Word at a Time" And for those who wish, you are invited to participate in funding all aspects of and in the building of a physical library building within walking distance of both the White House and the U. S. Capitol Building in Washington, D. C., as a voice of nonviolence and a safe harbor for Gandhian intellectuals in this epicenter of political violence on earth.