Sunday, November 27, 2005

Hit #68 (ECST) is being bought by PFS Web (PFSW) in a tax-free merger. The all-stock transaction valued ECST at around $1.6/share, which represented a discount of 57% to my average cost of $3.71/share!

I will be holding onto the PFSW shares that I get in exchange, since I believe that those can trade at a much higher price.

This buyout was announced almost 2 weeks ago, but was a very low-key affair. I missed the press-release altogether.

Previous hit - La Quinta (#67)


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