Seeking Alpha
  • Chris DeMuth Jr.
    While I'm on the (rather lacking in opportunities) merger arb topic, I think that it is reasonable to expect the $HON-$IN deal to close soon
    5/21/13
    Reply (27)
    • Wilson Wang: When do you expect to close? By the end of June?
      5/21/13
    • Chris DeMuth Jr.: Yep.
      5/21/13
    • Wilson Wang: Right on, thanks Chris.
      5/21/13
    • Special Situations and Arbs: What about GDI and AM as arbs? GDI seems secure and three months or so to
      5/22/13
    • Special Situations and Arbs: close..and AM could get a higher bid..thoughts Chris?
      5/22/13
    • Chris DeMuth Jr.: We used to own $GDI, but it is too tight for us so we sold it. The AM spread is fine for optionality, but tight too.
      5/22/13
    • byslkwd: What do you mean that AM is "tight"? Isn't there is no spread at all now, bur rather trading to a premium?
      5/22/13
    • Special Situations and Arbs: July 20 calls can be had for 10 cents
      5/22/13
    • Chris DeMuth Jr.: $AM-OLD: "tight" in that the consideration is $18.35 and the cost is $18.40 and $18.40 is below, but not at a wide spread beneath my EV calc.
      5/22/13
    • sogreat: Chris, why are you so confident the IN deal will close? I think they are still waiting for gov approval.
      5/29/13
    • Chris DeMuth Jr.: We have good checks on EU approval.
      5/29/13
    • sogreat: How about US approval?
      5/29/13
    • Chris DeMuth Jr.: We think that they should and will secure HSR too
      5/29/13
    • Special Situations and Arbs: Merger arb: SFD.....feels like another Nexen im a way....thoughts?
      5/30/13
    • Chris DeMuth Jr.: $SFD: spread is too tight as an arbitrage investment (it was terrific pre-announcement). We think that JBS and Charoen could both bid.
      5/30/13
    • Special Situations and Arbs: Diversified U.S. manufacturer Honeywell International to acquire mobile computing device maker Intermec For $600 million EU deadline June 14
      5/30/13
    • Chris DeMuth Jr.: Thanks for posting that; we expect approval.
      5/31/13
    • Special Situations and Arbs: Your welcome. By the way is PRXI at these levels a safe buy for those who have some time?
      5/31/13
    • Chris DeMuth Jr.: The downside is protected by $0.50-1.00 of an operating business. Then there are assets that are worth $x.xx more. These sell sometime.
      5/31/13
    • Chris DeMuth Jr.: So, in short, yes, for a less time-sensitive investor (like me) this is quite a bargain in my opinion.
      5/31/13
    • Special Situations and Arbs: Chris any idea why so much volume in IN today? US and EU set to decide very soon....nervous investors? Investors in the know?
      6/6/13
    • Special Situations and Arbs: I remember how bad Nexen and Dollar Thrifty sold off.....turned outto be great buying ops.....
      6/6/13
    • Chris DeMuth Jr.: I don't know, but I think that it is reasonable to expect US + EU approval imminently. Yes, NXY and DTG were okay until they were terrific.
      6/6/13
    • Joshua Heller: Finally got to (research) IN. Article talking about competition down to 2 in US, 3 in Europe. http://bit.ly/11Pnaq4
      6/9/13
    • Special Situations and Arbs: Honeywell wins EU approval for $600 mln Intermec buy
      6/14/13
    • Chris DeMuth Jr.: Good. That is pretty consistent with my sense of where things will end up in the US as well.
      6/14/13
    • Joshua Heller: More competition in Europe, concerned more about US approval myself
      6/14/13