Friday, September 16, 2011

China Security & Surveillance Technology = DONE DEAL

China Security & Surveillance Technology, Inc. (Ticker: CSR) stock was delisted from the NYSE today and shareholders will receive the funds ($6.50 per share) shortly. I don’t know if they are going to impose a $0.05 per share ADR fee as they do sometimes with foreign securities. In any case this was a successful merger arb play. Assuming a worse case scenario in which an ADR fee of $0.05 per share is imposed, I’ll be generating a total return of 4.17% over an eleven day period (136% annualized) and if there’s no ADR fee, my total return will be 4.91% (160% annualized).

Edit: I was informed that this is not an ADR so there will not be a $0.05 per share ADR fee.


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