Some True Religion Apparel

I initiated a position in True Religion Apparel, Inc. (Ticker: TRLG) today at $25.61. This is only a small position as it currently makes up ~ 3% of my portfolio. The company announced today that it is exploring strategic alternatives (also known as a sale). There are reports that both strategic and private equity companies are interested in the company. The company has a nice cash position and currently has a dividend yield of ~ 3%. I see a high probability of a deal...