Monday morning, Shamrock Activist Value Fund stock, Reddy Ice Holdings, Inc. (NYSE: FRZ), announced it would be acquired by GSO Capital Partners for $31.25 per share in cash, or approximately $1.1 billion.
In May, Shamrock disclosed a 5.2% stake (1.12 million shares) in the company in an original 13D filing (accumulated 5%). Shamrock paid, on average, about $28 per share for its stake. At the current offer price, Shamrock would be looking at a profit of about 11.6%. It is not clear if Shamrock will support the deal at this price.
Some other stocks owned by Shamrock Activist Value Fund include: Coinstar Inc. (Nasdaq: CSTR), Modine Manufacturing Co. (NYSE: MOD), TNS Inc. (NYSE: TNS), ProQuest Company (NYSE: PQE), Collectors Universe Inc. (Nasdaq: CLCT).
FRZ 1-yr chart