Dear Diary,
A "Voluntary Tender" offer was made for the outstanding shares of ALO by the buyer, but I would have had to make the arrangement with my broker to do the deal and pay the transfer agent a $25 fee, my broker informs me. ALO stopped trading on December 31, 2008, but my broker tells me an "Involuntary Tender" will be coming soon to close the arbitrage out in my account without cost to me.
I've made money on Cash on Sale Arbitrage since I started in August, 2008, but it is volatile at times and the HUN deal is still trading at a $1 loss were I to sell it today.
So, I bought Patterson Companies (PDCO), a dental supply company, etc. with Consumer Monopolistic qualities at $19.24 a share on 1-7-09, near a p/e ratio of 10 on $1.90 projected 2009 earnings per share and a widening Net Profit Margin.
I also picked up shares of IEX today at $23.49 a share, also with Consumer Monopolistic qualities, based on 2009 projected earnings per share of $2.45 and a widening Net Profit Margin.
Gene
skip to main |
skip to sidebar
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.