Cash Received for Mercury Air Group

I was away on business travel this week. When I arrived home yesterday, I found a pleasant surprise. I discovered cash in my son’s Coverdell ESA for the completed going private transaction for Mercury Air Group. The cash was deposited in his account on October 6, 2005.

As you might recall, I purchased 300 shares of Mercury Air Group back on August 23, 2005 for a total of $1,042.95 . On September 19th, Mercury Air Group completed its going private transaction, and three weeks later I received $1,200 in cash for my shares.

I made a total of $157.05 in profit, which is a 15% gain on my original investment. Annualizing that rate of return using Excel’s XIRR function, I determined that it comes out to over 220% APY!

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Posted October 8th, 2005 @ 9:23 AM by George
Filed under Going Private Transactions, Special Situations Real Money Portfolio |
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3 Responses to “Cash Received for Mercury Air Group”

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#1

I just wanted to say I enjoy reading all your Going Private Transactions, very cool stuff. I keep wanting to join in the action, but haven’t mustered the will yet.

Jonathan@MyMoneyBlog October 8th, 2005 @ 13:13
#2

Thanks for stopping by Jonathan. The first step is always the hardest part. Some of these going private transaction opportunities are very small, so you might want to consider trying one out for as little as $200. In addition, this going private transactions add a good amount of diversity to your overall investment portfolio.

George October 10th, 2005 @ 17:26