Wednesday, November 19, 2008

Anheuser Busch = Done Deal, Next...

I’m glad that Anheuser Busch closed so soon and seeing the cash in my account today. This market is steam rolling everyone in its path. I’ll just continue to do what has been working for me and that is focusing on risk arb plays. Today I picked up some more Puget Energy (Ticker: PSD) at $26.89, which is being acquired by Macquarie Infrastructure Partners for $30 per share in cash. The fact that this stock ended up today says a lot. I’m starting to feel more and more confident in this merger. It’s waiting for one more approval from Washington Utilities and Transportation Commission. Here’s a quote from a recent press release:

“All federal regulatory and shareholder approvals required for the merger have been obtained. Puget Holdings has committed equity and debt financing in place to complete the merger and to provide significant capital for PSE's future needs.”

I also picked up some shares of SI International (Ticker: SINT) at $30.84, which I sold earlier. This should receive the CFIUS approval in early December and hopefully close right after. Serco is acquiring this company for $32 per share in cash.


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