Monday, November 7, 2016 0 comments ++[ CLICK TO COMMENT ]++

Sold: Ingram Micro (IM)

Similar to the reasoning for selling Lexmark, I sold Ingram Micro (IM) after the stock market rallied strongly and the merger arbitrage gap closed significantly over the last week. Three reasons drove the closure of the gap: (i) markets rallying strongly, (ii) Ingram Micro posting strong earnings, and (iii) CFIUS granting approval.

Return isn't high but I'm ok with it given its short time period and uncorrelated return.

Purchase Price: US$35.87
Sale Price: US$38.55

Total Return: 7.4% (annualized: 782% -- meaningless, short holding period)

Good luck to Ingram Micro employees and hopefully the merger will benefit all parties.

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