I sold my CEG about 1 hour and 15 minutes after I bought it for $26.40. That is my all time shortest holding period. My reasoning was that I was going to get $26.50 from Berkshire in probably 6 to 9 months. Why not take $26.40 today and avoid the risk. Apparently the market thought Electricite de France would make a higher offer.
Looks like you might have done very well with ORI and ANAT if you still have them.
I made a real blunder selling part of my BRKB but partly made up for it with CEG.
Good luck on your CEG. Do you intend to hold on until the merger, or are you looking to take a short-term gain on an increase in price?
I don't have a clue about what EDF will do but I am pretty confident that Berkshire will do what Buffett says. I would dearly love for CEG to drop to $22 again so I could reload but I do not expect that to happen. I will keep watching.
Yeah, likewise. I lined up a bunch of gtc orders at 23. I'm guessing it will go down to 19, I'll have no more cash, and I'll be kicking myself again!
Then again, earning 10% a week on all my cash in the middle of a market crash ... worse things could happen. Fingers crossed.
You know, for about six years now I've looked at risk arbitrage on and off, and never saw one worth playing until last month. The spread never opened up enough to bother with. I guess you have to wait for the crazy times.
You escaped just in time to participate in round 4.
My order to buy was executed at $22. And, by the time I got to the computer it was back up to $23. I bought 3 times as much at $23.
The news that apparently caused the plunge today was that EDF announced that the conditions were not right for it to launch a competing bid. That is what I expected. That announcement must have caused all the speculators to dump their stock "at the market". Therefore, we may have to wait for the merger to be completed to get rewarded this time, but that is what I was prepared to do in the first place. But, my oh my, did those first three rounds increase the profitability of the transaction for us.