matjone Posted April 10, 2014 Share Posted April 10, 2014 Great idea krazeenyc, thanks. Looks like they are saying you'll get the cash 1 day after the shares are tendered. I am guessing we should see the cash by the end of the month at the latest? I might even buy more. Link to comment Share on other sites More sharing options...
bskptkl Posted April 10, 2014 Share Posted April 10, 2014 http://www.globenewswire.com/news-release/2014/04/08/625449/10075928/en/D-E-MASTER-BLENDERS-1753-Statutory-Buy-Out-To-Be-Concluded.html Less than 5 months not bad. Not bad - this was an awesome idea! Congrats and thanks for sharing. Link to comment Share on other sites More sharing options...
krazeenyc Posted April 11, 2014 Author Share Posted April 11, 2014 http://www.globenewswire.com/news-release/2014/04/08/625449/10075928/en/D-E-MASTER-BLENDERS-1753-Statutory-Buy-Out-To-Be-Concluded.html Less than 5 months not bad. Not bad - this was an awesome idea! Congrats and thanks for sharing. Your welcome. The beauty is that it was about as riskless a play as there is. It's nice that we got a bit of appreciation in the Euro as well as a nice timely payout. Link to comment Share on other sites More sharing options...
BG2008 Posted April 14, 2014 Share Posted April 14, 2014 Does anyone know what the mechanics for receiving payment is here? Does one need to tender to receive payment or can one simply wait till after the 24th? Link to comment Share on other sites More sharing options...
bskptkl Posted April 25, 2014 Share Posted April 25, 2014 Does anyone know what the mechanics for receiving payment is here? Does one need to tender to receive payment or can one simply wait till after the 24th? Payment hit my Fidelity account today, posting date was Friday, price = $17.2025, I figure they dinged me .005 on the FX conversion. Equated to 11% return in slightly over 3 months. I'm still waiting for payment in AMTD and RBC accounts... Link to comment Share on other sites More sharing options...
bskptkl Posted April 25, 2014 Share Posted April 25, 2014 "Payment hit my Fidelity account today, posting date was Friday, price = $17.2025, I figure they dinged me .005 on the FX conversion." I just spoke to AMTD about when they will post the cash, saying Fidelity already did. They said they suspected Fidelity fronted the cash to their customers. Thinking further about it - it seems Fidelity is keeping the 3% interest accruing from April 8. It will be interesting to see what the various brokers payout. So many ways to skin the cat if you are a broker! It is not just the commission per trade obviously. Link to comment Share on other sites More sharing options...
indythinker85 Posted April 25, 2014 Share Posted April 25, 2014 http://www.valuewalk.com/2014/04/d-e-master-blenders-1753-bv-arb/ My research on the Dutch squeeze-out procedure generally as well as the particulars of this case indicated there was only a very low probability that the court’s decision would not result in the remaining shareholders eventually being bought out at EUR 12.50 per share, which I thought would probably occur around May of this year. Many of the shareholders who did not tender their shares (most likely due to inattention) probably also didn’t properly understand the terms of the buy-out and the squeeze-out procedure (and hence the value of their investment). Moreover, some of them were probably U.S.-based individual investors who owned this European-listed stock because the company was spun off from a U.S. company only 17 months before the delisting. Therefore, when the stock became tradable in the U.S. grey market, I think there was likely a meaningful number of natural sellers, but few arbitrageurs were buying because of low liquidity and lack of awareness (perhaps caused by the change in trading venue from Europe to the United States). After I became aware of this opportunity, I accumulated as many shares as I could without pushing the price up significantly, and fully hedged the currency risk. As expected, on April 8 the court issued its decision that the remaining shareholders shall be mandatorily bought out at EUR 12.50 per share within the next few weeks, and the stock is now trading in line with the buy-out price. Link to comment Share on other sites More sharing options...
katikies Posted April 28, 2014 Share Posted April 28, 2014 I would like to thank krazeenyc for this wonderful idea. I received 17.27 for each share last friday. For a long period of time I tried to buy as many share as I could but for some reason was only able to buy right around the time I was posting (at around 15.80). Fantastic idea. And it played out exactly as you predicted time-wise. Thank you VERY MUCH Krazeenyc! Link to comment Share on other sites More sharing options...
matjone Posted April 28, 2014 Share Posted April 28, 2014 Yes, excellent idea, thanks. Link to comment Share on other sites More sharing options...
bskptkl Posted April 29, 2014 Share Posted April 29, 2014 "I received 17.27 for each share last friday." Which broker? Link to comment Share on other sites More sharing options...
katikies Posted April 29, 2014 Share Posted April 29, 2014 "I received 17.27 for each share last friday." Which broker? Schwab. Regards! Link to comment Share on other sites More sharing options...
krazeenyc Posted April 29, 2014 Author Share Posted April 29, 2014 I would like to thank krazeenyc for this wonderful idea. I received 17.27 for each share last friday. For a long period of time I tried to buy as many share as I could but for some reason was only able to buy right around the time I was posting (at around 15.80). Fantastic idea. And it played out exactly as you predicted time-wise. Thank you VERY MUCH Krazeenyc! Your welcome. Happy to contribute. It's nice when everything works out as expected or better. Link to comment Share on other sites More sharing options...
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