It’s a knockout for Ludowici

In fishing, there’s always the ‘one that got away’. It’s a feeling investors get used to as well and the one that got away most recently was takeover arbitrage opportunity Ludowici Limited. So what’s the story? On 23 January, we noticed a takeover bid for Ludowici, one of those old-fashioned family companies where the stock rarely trades. The bid, by Danish company FLSmidth, was at a hefty premium—$7.20 per share compared to the price of $3.50 before the bid. Intelligent Investor actively looks at these types of  situation to see whether there are any arbitrage opportunities. Indeed we have a...

In fishing, there’s always the ‘one that got away’. It’s a feeling investors get used to as well and the one that got away most recently was takeover arbitrage opportunity Ludowici Limited. So what’s the story?

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