It looks like we were not the only ones to see the value in Click Commerce (CKCM), the first holding in our New Economy MegaShift. This morning, Illinois Tool Works (ITW) announced a $22.75 cash bid for CKCM. The tender offer opens September 18 for 20 business days.

Illinois Tool Works is getting a good deal, buying the stock well below my $40 target price. However, I don’t expect another offer and with CKCM up sharply today to around $22.50, we may as well sell it, take our 14.3% profit in two months, and move on. If you want to hold it a while to see if another bid comes in, you can, but the odds are low. For our purposes, we’re taking our profits now.

I’m finishing the work on some more candidates for the New Economy MegaShift, and one interesting commonality is that they are all acquisition candidates for Old Economy companies that are remaking themselves, as Illinois Tool Works is doing. More on that in a future Radar Report.