Harbin Electric = Done Deal

Harbin Electric, Inc. (Ticker: HRBN) announced after the bell today that the closing of the management buyout for $24.00 in cash per share will occur on November 2nd and the stock will be delisted. The cash pay out will occur shortly thereafter. I actually picked up a few more shares today at $23.37 and $23.51, which equates to a quick 2.3% gain. I'm starting to like these China management buyouts as there are lots of skepticism surrounding them, which allows for a nice fat arb spread. I'm keeping my eyes on a few more China plays and hoping to add / initiate positions in them soon.