Hit #101

Maverick Tube (MVK) is being bought by rival Tenaris for $3.19 billion in cash. The offer, of $65/share, is a premium of 42% over the most recent closing price of around $45/share, but represents a gain of 253% over my average cost per share of $18.4.

Tenaris (TS) itself is looking attractive after the recent pullback. While not making a takeover target, this merger should result in a leader with a huge potential for growth over the next few years. I will be looking to open a position down the road.

---

Previous hit - Onyx (#100)