HP announced a buyout of 3Com (ticker COMS) for $7.90 cash per share. I see the appeal, as HP's brand strength can help it sell 3com's product line in markets where 3Com has failed to penetrate.
This was too tasty for me to ignore. I bought some COMS and I'll hold it until the deal closes. It's that simple. No options plays this time. The annualized gain will probably amount to only around 4%, but that's better than any bond of comparable duration.
