Sunair Services Arb Play
Who would have thought that I would put $$$ in a pest control company? Well not really, I picked up some Sunair Services Corp. (Ticker: SNR) at $2.69, which is being acquired by Massey for $2.75 in cash. This is a very small deal with the total purchase price of $36 million. I’m expecting this deal to close mid December, which will generate a 2.23% return (~29% annualized). Just keep an eye out for the definitive proxy (click: here), which will indicate the date of the shareholder vote. Closing should occur shortly after shareholders approve the deal.
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