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.