Mestek (MCC).. time to sell

at least for me personally who was just looking at this as an arbitrage trade.

got more profits than what i bargained for. so what can i complain about.

the deal called for 15.24 for those owning less than 2000 shares. was going through shortly, and not the market bid this up last friday till 16.60 on large volume.. block trade before close of market.

the guys who changed the shares sure had some long term strategy in mind. and mcc is not a bad company for the long term. but then again there are better ones out there with perhaps more undevalued assets.

i always found the idea of these clawback rights attractive, but would anyone pay a premium of 1 dollar for these rights, right now?..

i decided to sell for the time being.. exited my accounts on this taking some 20 k in profits. more or less. i may be leaving some money on the table here but i simple dont know enough of the strategic-deal value of this business to be hanging on as a long term holder. so i,m out..