The best part of my job is when I can deliver a winning trade for my client’s and I am delighted to report that it is time to lock in a nice profit on Mantra Group. Recently the French hotel giant Accor, lobbed a $1.18 billion or $3.96 per share all cash bid for Mantra and the board have unanimously accepted the deal.
The stock is currently trading at $3.90 which is a slight discount to the bid price, however the deal will not be wrapped up until March next year. I am happy to lock in a profit of 38.2% on this one and move on. Investors who followed my recommendation and purchased Mantra back in January would have received two dividends which totalled $0.11 and $1.00 per share in capital gain.
I have enjoyed my stay at Mantra but the holiday is now over. I have some very fond memories.