Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: T-3 Energy Services
So what: The approval was somewhat of a formality, and the big reason T-3 Energy Services is up today is the pop Robbins & Myers is experiencing after its earnings topped estimates. Because each T-3 Energy Services share will turn into 0.894 shares of RBN stock and $7.95 in cash, shares are just following the Robbins & Myers move.
Now what: The merger is expected to go through on Monday, so T-3 Energy Services owners have their choice of cashing out today or waiting until next week to hold shares of Robbins & Myers and a little extra cash. Considering the pop Robbins & Myers had today and increased guidance, it doesn't sound like a bad trade to me. I'd hold my shares and hope the move today continues next week.
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