Friday, May 05, 2017

Bought InvenSense

I picked up some InvenSense (Ticker: INVN) at an average price of $12.84 (~21% position). The stock sold off a bit after there was news of the company losing half of their motion sensors for the iPhone to Bosch. The company is being acquired by TDK Corporation for $13 per share in cash. I do not see this affecting the merger as losing some business to a competitor does not constitute a material adverse event. TDK is buying the company for future applications (i.e. virtual reality, automotive, drones, etc...) in addition the iPhone biz. The shareholder vote is scheduled for 05/17 and the company plans to delist the following day, 05/18. If all goes to plan, I can see the cash hitting the account on 05/19, which would translate to a net gain of 1.24% (~29% annualized return).

10 Comments:

At May 06, 2017, Anonymous mergerpie said...

i got some aound mid 12.70s... the discount lasted only for half an hour...

 
At May 08, 2017, Anonymous Anonymous said...

coach bid 18,.50 per share for KATE
what do you think? the price is very low since the 24$ per share on rumors.
Another bidder can come at this point.
what do you think then to old big position on common stocks?
please we need a strategy today, a bidder can come in few days.

 
At May 08, 2017, Anonymous Anonymous said...

KATE is lucky to get that price... would cash out

 
At May 08, 2017, Anonymous mergerpie said...

i think nobody will top coach

 
At May 08, 2017, Blogger Money Turtle said...

I think that was the best $KATE could get. It's done...

 
At May 08, 2017, Anonymous Anonymous said...

Does INVN have to be tendered. Thank You.

 
At May 08, 2017, Blogger Money Turtle said...

No tendering needed for INVN.

 
At May 08, 2017, Anonymous mergerpie.com said...

INVN rose to 12.91.. the opportunity to get a discount is very short..i can't get enough shares i want at below 12.80...i was holding firepower for more under 12.70 but it never got below that..

 
At May 09, 2017, Anonymous Anonymous said...

STRP is the craziest bidding I have ever seen...

 
At May 09, 2017, Anonymous mergerpie said...

it reminds me of the AWS-3 spectrum bidding where AT&T, Verizon and Dish bidded hard for the spectrums

 

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