Max & Erma's Restaurants Going Private
My son's Coverdell ESA is now fully invested, but I just unearthed another profitable "going private" deal. Max & Erma's Restaurants announced that it was planning to go private and buyout all shareholders holding less than 200 shares for $16.00 per share. I had a few dollars available in my taxable account that I decided to utilize for this deal.
I bought 199 shares for $14.45 a share on February 23. I plan on making $308.45 minus commissions if all goes well. I'll keep you posted.
I know it might seem like I'm completely focusing on these special situation transactions, but I promise to start looking into some long term stock opportunities in the near future. The main reason I'm focusing on these deals is because I feel that the stock market is getting a bit overvalued at this time. I'm hoping to get a bit more motivated in my research if there is a broad market pullback. Until then, I'm going to take advantage of these great going private deals that are ideal for small investors.
2 Comments:
Does it matter whether your stocks are in street name or not? I couldn't find that information in the SEC filing. Thanks.
From Max & Erma's proxy statement:
"Q: WHAT IF I HOLD SHARES IN STREET NAME?
A: Max & Erma's intends to treat stockholders holding common stock in street
name through a nominee (such as a bank or broker) in the same manner as
stockholders whose shares are registered in their names. Nominees may have
different procedures, however, and stockholders holding common stock in
street name should contact their nominees. Please read the discussion
under "Special Factors" for a description of the treatment of shares held
in street name."
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