Tuesday, March 29, 2011

A Little More Big Lots again...

We kind of have a clearer picture now of the bidding process for Big Lots (Ticker: BIG). There was an article from the dealReporter stating that the following private equity firms have teamed up to bid for Big Lots: TPG / Bain Capital, Leonard Green / CVC Capital Partners and Thomas H. Lee Partners. The second round bids (usually the final round bids) are due around April 20th. The bidding could get interesting with Goldman Sachs (Ticker: GS) looking at a sale price of 10.5 to 11X EBITA. I can see a possible deal by the end of April. I nibbled on some more Big Lots today at $42.90.

On a side note, the end is near for Genzyme (Ticker: GENZ). I tendered my shares today and it looks like the deal will close next week.

Friday, March 25, 2011

Sold Airgas

I sold my Airgas (Ticker: ARG) position today at $65.91 generating a big fat ZERO gain. The Airgas position was purchased on 12/8/10 at $65.91 and was a buyout play. This one didn’t work out and fortunately was able to get out ok. Still nothing much happening; I did nibble at some more Big Lots (Ticker: BIG) last week and that’s it for now...

Friday, March 11, 2011

A Little Move in Big Lots

I’m still in Big Lots (Ticker: BIG) and have a strong conviction on this one. Big Lots moved up nicely this morning because of a DealReporter story. It said that “the company has received interest from a number of prospective buyers.” I like this special situations play as the probability of a deal is high.

I did sell a few shares of Genzyme (Ticker: GENZ) at $75.36 a few weeks back, but I am holding onto the rest until the deal closes. That’s about it for me right now. Nothing exciting… You don’t have to be invested at all times to do well. As in poker, you play your hands when the odds are in your favor.