Thursday, July 26, 2012

Talbots Update and Some Nexen

Today, Talbots (Ticker: TLB) and Sycamore received the approval from the Office of the Comptroller of the Currency (OCC) to proceed with merger. Now we just need 90% + shares tendered to finally finish this one off. This arb play has gone rather smoothly considering all of the conditions that were put in place. Hopefully this one closes next week.

I continued to build my position in Nexen (Ticker: NXY) with an average price of $25.75. It’s hard to imagine that Canada will block this deal. If they do, they can pretty much forget about doing any biz with China. Canada has only blocked two mergers for not generating a net benefit to the country. I like the odds of this deal closing and will continue to add to this position.

Finally, I initiated a position in, Inc. (Ticker: ACOM) today at $32.36. Two private equity firms are circling the company: Permira Advisers and Providence Equity Partners. The price being floated around is $35 +. Second round bids are due in early August.

Edit: I sold my position in on 07/27/12 at $32.40. Looking to get back in at a better price.


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