If you were patient enough to stay with a long position on ASV Inc. (ASVI), then your ship may have arrived. This morning, Terex Corp. announced its intent to purchase ASVI for 18.00 per share, a premium of 46% over the Friday's closing price.
On 10/19/06 and again on 10/31/06, ASVI was mentioned in this blog as an attractive stock, originally selling at 16.60 it seemed to be a value company. The housing industry slow down, lower than expected earnings and U.S. markets sinking rapidly, managed to bring the stock price to 4 year lows. At the time, I chose not to panic and hang in there, it worked to our advantage.
For more information on the possible transaction see the following link:
http://biz.yahoo.com/ap/080114/terex_asv.html?.v=1
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