Limco-Piedmont (LIMC), which we previously profiled on May 1st, has filed to delist. The shareholder meeting was scheduled for 10 am today (July 2nd), and shareholders were to vote on a plan of merger with its majority owner TAT Technologies (which holds over 60% of outstanding shares). TAT has offered 1/2 share of its stock for each share of LIMC.
On the day we profiled Limco, its stock closed at $2.54 per share. Today, TAT trades between $7.6 and $8 per share. During that span, the S&P 500 moved from 878 to 919 (yesterday’s close).
Disclosure: I, or persons whose accounts I manage, own shares of Limco-Piedmont at the time of this writing.