Zhongpin, Inc = Done Deal

Zhongpin, Inc. (Ticker: HOGS) announced today that shareholders approved the going private transaction and will receive $13.50 in cash. The vote was announced early this morning and the stock was promptly delisted prior to the market open. I have ~ 30% of my portfolio in Zhongpin and I expect the see the cash in my account by July 5th. My net gain will be 2.42% (annualized return of 22.42% assuming I receive the cash by July 5th).

Edit: The cash hit my account today (06/28). That was fast!

Sold Optimer Pharmaceuticals, Inc.

I sold my position in Optimer Pharmaceuticals, Inc. (Ticker: OPTR) today at $13.08 generating a net loss of 11.76%. Once a position falls ~ 10%, I will start to cut my losses. It was a relatively small position at ~ 3%. A deal may materialize, but it is taking awhile. I’ll still keep a close eye on Optimer Pharmaceuticals.

Sold ICU Medical, Inc.

I sold my position in ICU Medical, Inc. (Ticker: ICUI) today at $73.99 generating a net gain of 3.48% over an 8 day period (156% annualized return). It looks like ICU Medical rejected an $80 bid from CareFusion (Ticker: CFN). Apparently ICU Medical is looking for something in the 9’s, which I think will be difficult. I don’t see private equity bidding that high and CareFusion may just walk away as it has other targets in mind.

Edit: I also sold my position in ThermoFisher Scientific, Inc. (Ticker: TMO) at $85.55 and just breaking even on the trade. The stock is not acting well after the secondary offering. Raising some cash here and re-evaluate things a bit.

Some ThermoFisher and ICU Medical

Not much happening, just waiting for some deals to close and potential deal announcements. I did pick up some ThermoFisher Scientific, Inc. (Ticker: TMO) last Friday at $85.44. I’ve been waiting for the opportune time to initiate a position and last Friday’s secondary offering was that time for me. A very well run company and the acquisition of Life Technologies will add nicely to earnings.

I also bought back a position in ICU Medical, Inc. (Ticker: ICUI) last Friday at an average price of $71.50. This deal appears to be progressing faster than I expected as Reuters mentioned that second round bids are due shortly with CareFusion (Ticker: CFN) and a PE firm eyeing the company.