Hit #93

Navigant International (FLYR), a corporate travel services operator, is being acquired by Carlson Wagonlit Travel for $510 million in cash. The offer, of $16.5/share is a premium of 36.5% over my average cost of $12.09/share.

There are now just a handful of public companies left in this sector. I think we will see that shrink soon!

Two related companies, Ambassadors Group (EPAX) and Ambassadors International (AMIE), look interesting, but they aren't cheap. I will wait! Both have a good amount of cash in hand, and should be attractive at a 30-40% discount to their current price.

---

Previous hit - Serologicals (#92)