Sold my $TSB.L (TSB Banking) shares

TSB is a bank that was floated by the government in June 2014. I was lucky enough to have applied for exactly the right amount of shares. They’ve actually been a boring performer, having reached a peak of 297p in Sep 2014, and a low point of 247p in Oct 2014.

Today, TSB announced that it had received a preliminary proposal from Banco de Sabadell SA at 340p cash. Having traded sideways for much of its listing period, the shares have shot up around 24% this morning. I decided to sell, banking a profit around 26%, because I’ve seen too many proposed acquisitions fail, and too little succeed.

If the bid doesn’t succeed, then the shares will plummet. So it’s a question of either getting out whilst the getting is good, or hold on and hope you get the full offer price. I opted for the former. I’m just playing what I think are the percentages.

328.12p

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About mcturra2000

Computer programmer living in Scotland.
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