As you might remember, I purchased 300 shares of Mercury Air Group on August 23, 2005 for $3.45 a share. This past Monday, Mercury Air Group completed their going private transaction and they terminated the registration of their stock. In a few weeks, I expect to receive $4.00 in cash for every share that I own.
I noticed a few weeks ago that Mercury Air Group obtained a new line of credit. This line of credit was likely obtained in order to help complete the cashing out of shares for the going private transaction. In the future, I will consider the opening of a new line of credit by a company that is planning to go private to be a positive sign that they will complete the transaction.
I was out of town earlier this week and the current going private transactions list was not updated. Last night I caught up on all the recent activity and the going private transactions list is now up-to-date. Sorry about the delay in updates.