En Pointe Technologies (ENPT) was acquired at the end of trading last Friday, August 7. The transaction returned 13.6% in the MANDA Portfolio, my M&A arbitrage fund. Presently, there are only four open portfolio positions with no pending purchases at this time. Recent M&A activity has been anything but robust, and the few deals that have been announced have been either stock swaps which are outside of my risk tolerance or else they were cash offerings where the arbitrage opportunities were too minimal to be bothered with.
As it stands so far, the portfolio has returned over 5% since inception a little over a year ago and boasts a win/loss ratio of 15 out of 16.
