Friday, December 07, 2012

Nexen, Inc = Almost Done Deal

It’s just about a done deal with CNOOC Limited’s (Ticker: CEO) acquisition of Nexen, Inc. (Ticker: NXY)  I’ve never seen such nervousness from the market leading up to a decision. The market was having a panic attack just hours before the announced ruling. You just need to maintain your conviction and remember why you went into the trade. All the little signs out there were suggesting that the Canadian government was going to approve this merger. Nexen made up ~ 30% of my portfolio so I’m looking at a net gain of ~ 7.75% over a 76 day period (~36% annualized gain assuming a closing by 12/31). I think I’ll rest a bit after going through the Dollar Thrifty and Nexen dramas. The arbs earned this one! Now a BIG sigh of relief…Wow…


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