For all of you following the MANDA Fund (see Portfolios under Blog Resources), the Sopra Group earlier today announced today that they acquired Tumbleweed Communications (TMWD) for $2.70 per share in cash. Apparently the deal passed the Exon-Florio review process. This stock was added to the portfolio on August 15th at a price of $2.52 per share, giving us a 7% return on the transaction for an annualized return of around 130%. Not bad for our first completed trade!
Note: If you own this stock, it may take anywhere from a few days to a couple of weeks for the transaction to be settled and the cash to be deposited into your brokerage account. Contact your broker for further details.
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