The one day sale!

images.jpegEvery now and then, I’ll see something in a store that’s on sale. It seems like a good deal, but I’m not quite ready to buy for one reason or another. But yesterday, I kicked myself (methaphorically, of course) for not buying Checkfree (CKFR) on Wednesday after reading this 8K that was filed late Tuesday. As everyone knows by now, Checkfree’s stock climbed 23% yesterday on news that it was being acquired by Fiserv (FISV) in a $4.4 billion deal. That’s the type of one-day sale that even beats Nordstrom’s (JWN) semi-annual anniversary sale.

Of course, hindsight is always 20-20. It’s incredibly easy to say that you should have done something after the fact. So play along with me as I discuss what held me back: For one, the 8K did not have all of the telltale signs that I look for when it comes to finding these things in advance. There was also a hefty short position that made me think twice. But in the end, I thought there was more time. As regulars know, I’ve been tracking this sort of thing for awhile and I’ve never seen a company file the tell-tale 8K only a day before the deal is announced. It’s just never happened. Lesson learned!

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