Sale of Umeco (UMC)

Just one sale today. Umeco (UMC), the specialist engineering firm, at 547p

I bought Umeco on 3rd August 2011 for 373p
The share price shot up on 12th April 2012 on the news that the company had received an offer from Cytec Industries’ subsidiary Cytec UK Holdings, for the entire company.

Cytec and Umeco agreed that Umeco’s shareholders will be paid 550p in cash per share.

I’m not sure when this deal is due to be completed and shareholders paid, but as I’m selling off smaller holdings I decided to cash in today, despite the share price being 3p below the price shareholders will receive if and when the takeover goes ahead.

The sale price of 547p represents a near 47% profit.