Wednesday, January 21, 2009

Less Puget Energy and More NDS Group

Yesterday, I took some Puget Energy Holding (Ticker: PSD) off the table by selling 0.6X and generating a net gain of 6.41% over a ~ 3 week period. I reinvested the proceeds into NDS Group PLC (Ticker: NNDS) at $58.00. Now the table has turned and I see more rewards in NDS Group PLC than Puget Energy Holding.

NDS Group PLC is being acquired by the private equity group, Permira, and News Corp for $63 in cash. This deal should close in early February after the final hearing by the English Court, which is scheduled for February 4th. This is just a formality and Permira has already issued capital call letters to its investors in early January to fund the deal. I see little risks in this deal, but of course anything can happen.


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