Friday, August 23, 2013

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.


At August 24, 2013, Anonymous T Bhat said...

I checked out the conf call transcript and further guidelines by Apollo that they are going to close the transaction.

Looks like the China incident is a no-op.

At August 24, 2013, Anonymous T Bhat said...

Did a search and found this article:

At August 24, 2013, Blogger Money Turtle said...

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.

At August 25, 2013, Anonymous T Bhat said...

Congrats on the onxx deal - looks like it will be announced on Monday.

At August 25, 2013, Blogger Money Turtle said...

Thanks... Now maybe I can start to refocus on Cooper.


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