A Little Bit of Venoco, Inc.

I’m back in Venoco, Inc. (Ticker: VQ) at $9.91, which is in the process of a management buyout from the CEO for $12.50 in cash. This is only a small position at this point as this is a high risk merger arb play since there is no committed financing in place. I took a stab at it since the risk and reward is somewhat favorable. The Financial Times (Deal Reporter) had a little write up recently in which it stated that the CEO was in active discussions for financing for the deal.

Edit:

I sold my position today at $9.98 for a small gain...