Sold Cooper Tire & Rubber
I sold my position in Cooper Tire & Rubber Company (Ticker: CTB) this morning generating a net gain of 0.35% over a 3 day period. The more I evaluated this position, the more uncomfortable I got. You have Cooper Tire & Rubber reporting disappointing earnings, but what I fear most is the macro economic issues affecting India. I can see a lot that can go wrong with this merger arb play.
posted by Money Turtle @ 8:46 AM
5 comments
5 Comments:
I checked out the conf call transcript and further guidelines by Apollo that they are going to close the transaction.
http://www.apollotyres.com/india/downloads/transcripts/analyst-conference-call-june-2013.pdf
Looks like the China incident is a no-op.
Did a search and found this article:
http://www.moneycontrol.com/news/cnbc-tv18-comments/rbi-capital-control-rule-not-to-impact-cooper-deal-apollo_937890.html
http://valueinvesting.proboards.com
Thanks for the links. I wanted to take a time out as I was focusing on SPRD and ONXX. I didn't want to juggle to many special situations / merger arb plays at once.
Congrats on the onxx deal - looks like it will be announced on Monday.
Thanks... Now maybe I can start to refocus on Cooper.
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