Judge OK to Safeco + Liberty Mutual

Ok, here we go again… another arb play is set to close very soon. Today, the judge approved the acquisition of Safeco (Ticker: SAF) by Liberty Mutual so the closing should occur very shortly. Shareholders of Safeco will receive $68.25 per share. I loaded up on more Safeco during this market melt down and looks like the bet will pay off. I’ll be down to two remaining arb plays: Landry’s Restaurant (Ticker: LNY) and Photon Dynamics (Ticker: PHTN), which are the riskiest of the arb plays.