Sorry for changing the title in the thread.

It was kine of funny to see Eric quoted at $1.55 and not his 85 cents call or his calling CLL high risk stock at 39 cents.

I took deep breath, took my wife advice (take the profit while you can) and sold today the reminding 50% of my CLL shares. I redeployed the cash to possible 2012 takeover opportunity (ARN).

Here is the thing. CLL received: non-binding and conditional offer. (Simply put the Fishing Expedition offer).

It is like putting the offer on the house with subject to mortgage approval and house inspection. You can always walk out from this offer with no penalties.

CLL said: There can be no assurance that a formal offer or a transaction will result from this proposal.

IMO the offer was about 80 cents per share +/- 10 cents. This is 100% premium to the CLL share price at the time of the offer (see insider buying bellow 40 cents).

The offer condition is subject to DD (checking CLL books). It does not take much to see that the company is not making profit selling the bitumen so it will be easy to walk away from the offer with no penalties.

Few institutions have downgraded CLL this morning with most of the target price about $1/share. So, there is not much profit left on this run but big risk if the investor will walk-out from the offer.

Good luck to all hanging around.