Prudent Capitalist
8 years ago
Pappi: I can't PM, but can tell you that I got out of ACAS above $17 back shortly before the election and market run-up, and have done very well with the proceeds, which remain in a tax-deferred retirement Acct. I re-deployed significant chunks of the proceeds of the ACAS liquidation in WFC just under $45, in NNI at $38.93, and in KMI at around $20.60. KMI will most definitely return to its normal prior trading range above $30 in time, IMO. I am also continuing to accumulate shares in Niocorp (NIOBF) which should have its breakout year in 2017 following the expected release of the BFS any week now.
pappi
8 years ago
Hello PC:
Good on you, of course. I've opted to see the deal through, since I'd face a whopping cap gains on the long term hold, which I think holding will avoid.
I did take the run up to the election and state cannabis votes to put a dollar or two into that little sector. Not tending to play, rather buy careful, hold long.
Best,
-p
pappi
8 years ago
Indeed. I can see that. When Warren Buffet bought out Heinz, and we had a few shares, I don't recall any legal beagles fighting about THAT buyout price.
We'll see. In any case, there's going to be some serious asset reallocation going on later this year. One way or the other.
And we'll keep an eye on this going forward. If you do not follow the Yahoo ACAS board, I can suggested Newly Minted Bucks (I think he changed his moniker...) on that board as a remarkable whiz on all things ACAS.
Best,
Pappi
pappi
8 years ago
Hey PC:
Well, now, this is a major event. I've been so long holding this I'm a bit surprised to see movement. Wonder what happened to Trinity (another long-termer here)and what s/he makes of it.
Gonna free up a lot of loot needing reallocation, that's for sure.
congrats to those that held, I suppose, is now in order.
Pappi
Prudent Capitalist
8 years ago
Buyout potential reflected in the recent March 14 PR, and March 17 filed 8-K as summarized below:
BETHESDA, Md., March 14, 2016 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or the "Company") announced today that its Board of Directors has reset the date of its Annual Meeting of Shareholders to July 29, 2016 and that June 10, 2016 will be the record date for determining shareholders eligible to vote at the Annual Meeting. The Company had previously announced that June 30, 2016 would be the date of the meeting. After the record date, the Company will distribute to all shareholders of record on that date a Notice of Annual Meeting and Proxy Statement, which will set forth the time of day and place of the meeting and will include information on matters to be voted upon at the meeting.
The Company noted that the American Capital Board of Directors has postponed the Annual Meeting in consideration of the Company's ongoing strategic review process. Due to the significant preliminary level of interest from strategic and financial prospective purchasers of the Company or certain of its business lines, the Board believes that, consistent with its goal of maximizing value for all shareholders, it is prudent to work to complete the upcoming phases of the process before the Annual Meeting schedule begins.
American Capital noted that there can be no assurance that the continuing strategic review process will result in a transaction or transactions and that it will not necessarily report further on the progress of the process.
http://ih.advfn.com/p.php?pid=nmona&article=70759268
Prudent Capitalist
9 years ago
Bingo! Great news! ACAS bought back another 8.8% of its outstanding shares!!
BETHESDA, Md., April 1, 2016 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or the "Company") announced today that in the first quarter of 2016 it made open market purchases of approximately 21.2 million shares of American Capital common stock, or 8.8% of the Company's outstanding shares as of December 31, 2015, under its stock buyback program (the "Program"). The shares were purchased at an average price of $13.96 per share, totaling approximately $296.5 million.
pappi
9 years ago
Same here, PC. Just not convinced that bailing and moving on would do anything more than generate taxable gains. I'd planned to let ACAS run a year of dividends, DRIPed, and then see what's up.
BDCs are generally tanking, and I'm prone to contrarian gambles. Lots to read up, think about, and sit around, wait.
best,
pappi
pappi
10 years ago
Zack's hints at spin-offs...
http://finance.yahoo.com/news/american-capital-repositions-finance-spin-210626986.html
> It is an odd piece, since they praise ACAS, hint at great future developments, note serious work to recover from the 2009 hit, and then conclude by noting Zack's carries ACAS at a strong sell ranking.
But this is the first public hint I've seen about what ACAS long-term holders have been holding for.
Best,
pappi