Tendered Talbots, Inc.

I tendered my shares in Talbots, Inc. (Ticker: TLB) today. I initially had a fairly large position and reduced it to a more comfortable level. It currently makes up ~ 15% of my portfolio down from ~ 40%. There’s definitely some risk in this arb play as observed in the wide spread. Bloomberg has nice a write up on the Talbots merger today (click: here).