Looks Like I Picked The Wrong Week to Quit Smoking

Looks Like I Picked a The Wrong Week To Quit Smoking

On February 18th I put in a buy order for RAI (along with FSC).  I got talked out of it that same day and cancelled my order.  Today I see where RAI is thinking about making a bid for LO.  One weird thing I have noticed about recent M&A activity is that both the buyer and seller stocks are going up. I have seen that on numerous pharma buys (like Activis and VRX) and in the recent saga between Jos a Banks and men's Wearhouse (You are going to like the way you look).

So with the rumors, RAI (as the buyer) has spiked from $47.64 to $53.29. They will likely go up even more today.  Interestingly, LO has gone up by virtually the same percentage.