Still here. This could take a while -- asset plays are always a waiting game. But even if it takes 5 yrs and they only get 15/shr it is still a 20%/yr gain. That would be just fine with me. Back in 93-94 I did the same thing with Carenetwork. Bought at 4 and doubled up at 8. HUM bought them out at 25. In those days memberships were going for $1000-1400 per in buyouts. It makes you wonder about the efficiency of a market that would let a stock trade a less than 1/6th of what another company in the same industry would pay for it.
HMOs all rallying today (WLP came out with big earnings). UNH is finally back to the price that they originally offered the .5 shr for each HUM shr. ML has a price target of 75. If they get that high it sure will make HUM's membership look awfully cheap.