The SIPP has managed to find another company that has become a bid target - Friends Life Group (FLG) is subject to interest from AVIVA valuing the company in the region of 370-400.
Between June and October this year, I've purchased 2900 shares in Friends Life (FLG) at a cost of £9,005.35, or 310 per share (on average).
This afternoon, I've sold off the entire holding of 2900 shares and recovered £10,671.40 after commission and fees which has realised a profit of £1,666.05 or 18%.
I can't see a further increase in the offer coming up as much of the "press" comment hasn't been in favour of a merger of the companies and, if the bid collapses, it is likely to have an adverse affect on Friend Life. I'm a "bird-in-the-hand" man, and 18% profit in a few months looks like good business to me.
This has provided me with a significant cash balance of £15,975 which will allow me to take advantage of any reduced prices in the companies in which I already hold shareholdings; or other buying opportunities.
Of my shareholdings in:-
Booker Group (BOK) purchased at an average cost of 124 per share, continues to grow in value and today stands at 145 per share.
GlaxoSmithKline plc (GSK) purchased at an average cost of 1406 per share, also continues to grow in value and today stands at 1467 per share.
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