Puget Energy = Almost Done Deal

Well, it looks like the wait is over for Puget Energy (Ticker: PSD). After the market close, the State regulators finally approved the sale of Puget Energy. Now the acquiring company has ~ 2 weeks to close this deal. I should see the $30 per share in two weeks.

SI International = Done Deal

This morning, Serco received approval from CFIUS to acquire SI International (Ticker: SINT). Like I said, the third time’s a charm in their attempt to gain CFIUS approval. This is pretty much a done deal. I’m expecting this deal to close next week with a net gain of ~ 4.12%. This is a nice way to end out the year. Also, I just initiated a new arb play in NDS Group Plc (Ticker: NNDS).

Foundry Networks = Done Deal

I'm still taking quick glances at the markets from the other side of the world. It looks like Foundry Networks (Ticker: FDRY) has finally closed. I only ended up making ~ 1.75% on this deal. I'm not going to complain because this deal almost blew up in my face. From this deal, I learned not to get too greedy by backing up the truck in one deal. I really lucked out big time in this arb play. A little sign of relief...

Currently Far East For The Winter

I'm currently in the Far East so my blogging has been non existent. I'm still waiting for the following merger arbs to close: Puget Energy (Ticker: PSD), Foundry Networks (Ticker: FDRY) and SI International (Ticker: SINT). Puget Energy will be delayed till early next year, but that's not a big surprise. I'm still expecting Foundry Networks and SI International to close by the end of this year. I've also done a bit of writing covered calls on my long term positions.

I will need to do some tax loss selling soon. It's actually been a fairly successful year for me so the tax loss will be off setting a chunk of my gains. I'll still end up owing money to Uncle Sam, but definitely no complaints. The merger arb plays pretty much saved my butt this year.

SI International By Year End?

SI International (Ticker: SINT) resubmitted their CFIUS application so now we’re looking for the merger to be completed by year end. This was the 3rd time that the company had to resubmit their application due to additional questions by CFIUS. I’m confident that CFIUS will give its blessing. As they say, the third time’s a charm… So we will see…