More Beckman Coulter

Oh nooo the sky is falling… What happened to Beckman Coulter (Ticker: BEC)!? No worries, I added to my position today at $74.24. Risk arb players tend to be a finicky bunch of people and any sniff of a problem, they run for the exits. Today, Reuters reported that strategic buyers were dropping out and this caused the sell off in the stock. This auction process will run its course and we’ll know more concrete info in February as the second round bids are in. You need to be patient and be opportunistic in these risk arb plays.