Hit #34

Insight Communcations (ICCI) is being taken private by The Carlyle Group for $10.7/share, a 11% premium over Friday's close and a 17% premium over my average cost of $9.12/share.

The offer still undervalues the company, and I expect the bid to be raised.

I had mentioned Insight Communications, the ninth largest cable company, along with Mediacom (MCCC) in an earlier post. Mediacom is still a good buy and would make an ideal combine with Insight.