Wednesday, April 12, 2017

Sold Time and Akorn

I got stopped out of Time Inc. (Ticker: TIME) today generating a net loss of 5.03%. At this point, I view the risk return as not favorable as the potential take out premium may not much higher than the current price. Everything was looking positive last night with the Bloomberg piece until this morning with the Reuters report. Fortunately, Time Inc. was a relatively small position (~6%) so just a small bump in the road.

I also exited my position in Akorn, Inc. (Ticker: AKRX) generating a net gain of 2.58% (~5% position) so this offsets some of my loss in Time Inc.

April has been a positive month so far, but there’s still a lot of days left...

7 Comments:

At April 13, 2017, Anonymous mergerpie said...

MT, for $SYT, is it better that we tender shares (deadline 4th May) or wait till the merger close?

 
At April 13, 2017, Blogger Money Turtle said...

I plan on tendering my shares by May 4th. The cash will usually hit your account quicker when you tender.

 
At April 13, 2017, Anonymous mergerpie said...

Thanks!

 
At April 14, 2017, Blogger Eric L said...

They can't pay until all regulatory approvals are done....India remains

 
At April 14, 2017, Blogger Money Turtle said...

Yes, tender will pay out only satisfying all of the conditions. I still plan to tender by the May 4th deadline.

 
At April 18, 2017, Anonymous Anonymous said...

news about Cabelas CAB?

 
At April 18, 2017, Blogger Money Turtle said...

CAB: Revised merger agreement, takeout price reduced to $61.50
http://www.businesswire.com/news/home/20170417005865/en/Cabelas-Enters-Revised-Transaction-Agreements-Connection-Bass

 

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