Wednesday, October 29, 2008

Foundry Networks = Repriced Deal = Ouch!

My Foundry Networks (Ticker: FDRY) arb play won’t be paying off as I had hoped. Tonight, Brocade (Ticker: BRCD) re-priced the deal to $16.50 in cash from $18.50 in cash plus 0.0907 shares of Brocade stock. Brocade wasn't able to raise the additional $400 million. Oh well, you can’t win them all, but you just learn from this experience and move on.


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