China Merchant Pacific Holdings takeover

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Yet another one of my stocks getting delisted. Unfortunately the offer is at a discount to my cost. I suppose this is why buying at a good discount to NAV is prudent for stocks like these. I bought it at NAV last year, and it dropped due to acquisitions. Well, at least I managed to sell it at $1.03 somehow, $0.01 above the offer price. I find the offer a bit undervalued, but at least it's not as bad as the Indiabulls saga. That one is really super lowball.

Anyway, with this unlocking of capital, I put my money on Silverlake Axis. The share price dropped to a reasonable level. I think around 13-15 PE is quite reasonable for such a company. Their track record with acquisitions seem to be quite okay, and I look forward to see what they can do with Sungard Ambit.


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