Tuesday, July 19, 2011

L-1 Identity Solutions = Done Deal

L-1 Identity Solutions (Ticker: ID) finally received the CFIUS approval to close the transaction with Safran SA, the French defense company. I started buying from 6/8 to 6/30 with purchase prices ranging from $11.36 to $11.80. My average price is $11.48 generating a net gain of 4.52% (~39% annualized return). You had to be patient with this one as the CFIUS process can drag out forever as in this case. This was also heavily shorted as many bet that CFIUS was not going to approve this deal. I had a strong conviction on this one, but it definitely wasn’t easy to hold to the very end.


Post a Comment

<< Home