Monthly Archives: May 2014

 

Credit Acceptance Corp (CACC) – Odd Lot Tender Offer – no upside

Current Price – $127.73

Offer Price - $125.58

Upside - no upside currently

Expiration date – June 16, 2014

Odd Lot holders (less than 100 shares) are not subject to proration

SEC Filling

Summary:

Credit Acceptance Corporation, a Michigan corporation, is offering to purchase up to 915,750 shares of its common stock, par value $0.01 per share, at a price of $125.58 per share, net to the seller in cash. 915,750 shares represents 4.1% of our outstanding common stock as of May 1, 2014



Hancock Fabrics (HKFI) – Going Private Transaction – $200 Gain – Cancelled

Current Price – $1.0

Offer Price – $1.2

Upside – 20% or $200 for Odd Lot holders

Expiration date – not announced yet

SEC Filling

Trading Strategy:

Buy 999 shares of HKFI and wait for reverse-split after the shareholder meeting.

Summary:

After careful consideration, our Board of Directors has concluded that the costs associated with being a public reporting company in the U.S. are not justified by the benefits. The primary purpose of the going private transaction is to reduce the number



Global Sources (GSOL) – Odd Lot Tender Offer – $148 Gain

Current Price – $8.51

Offer Price – $10.00

Upside – 17.5% or $148 for Odd Lot holders

Expiration date – May 28, 2014

Odd Lot holders (less than 100 shares) are not subject to proration

SEC Filling

Summary:

Global Sources Ltd., a Bermuda company, is offering to purchase for cash up to 5,000,000 shares of its common shares.  On the terms and subject to the conditions of the Offer, Global Sources will pay $10.00 per share, net to the seller in cash.

The 5,000,000