Friday, June 24, 2011


I sold BJ’s Wholesale (Ticker: BJ) today at $48.31 and basically broke even (cost basis was $48.24) on the trade. When I entered the trade, I was anticipating a takeout price in the mid 50’s and obviously this is no longer the case. There’s a good chance that BJ’s Wholesale says: “Thanks, but No Thanks”.

I started building a position in China Fire & Security Group (Ticker: CFSG) at ~ $7.80. This is a China based company involved in a management buyout. Bain Capital is involved in this deal. There’s a nice spread (~ 15%) as the buyout price is $9.00. I see a good chance of this deal closing.

I also picked up some Blackboard, Inc (Ticker: BBBB) today at $43.95. The Wall Street Journal is reporting that Providence Equity Partners is in exclusive talks with the company and a potential deal could happen shortly.


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