Well, looks like I am going to lose on my decision to buy HUN for the short term.  They announced the deal was killed today, with Hexion paying break fees to HUN ($750M cash, $250M notes).

I went against my gut and held, when I should have sold earlier (I wrote about maybe getting out of the position here).

Notes:

HUN says it is still suing the banks involved for $2B+, so when the dust clears, HUN might get some more cash.  However… I was looking for a short term M&A play, not a long term business model play.  With my shares now down 71%, I am in a position where it is worth more to me to just hold. *sigh* — this why you set stop loss orders and follow them.

Here is the number crunch:

Entry price: $11 — I bought 200 sh

Today’s price: $3.19

ROI: -71% (yeeks)

Here is my current M&A portfolio.

Sources:

PRNewswire release