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Merger Arbitrage: How to Profit from Event-Driven
Merger Arbitrage: How to Profit from Event-Driven

Merger Arbitrage: How to Profit from Event-Driven Arbitrage by Thomas Kirchner

Merger Arbitrage: How to Profit from Event-Driven Arbitrage



Merger Arbitrage: How to Profit from Event-Driven Arbitrage epub




Merger Arbitrage: How to Profit from Event-Driven Arbitrage Thomas Kirchner ebook
Format: pdf
Publisher: Wiley
Page: 370
ISBN: 0470371978,


Genesco's (GCO) poor second quarter results triggered a panicked reaction from Finish Line (FINL), which is “evaluating its options regarding” the merger of the two firms. Predictably, in the current jittery market, . However, merger arbitrage works best over several different deals and opportunities, requiring heavy capital constraints making it pretty inaccessible for most retail investors. Arbitrageurs use leverage, short-selling, derivatives and synthetic securities (matching one asset with a combination of others with similar profit and loss profiles) to attempt to take advantage of discrepancies among prices. There are opportunities to profit from this growth in acquisition activity. (See “Event Driven Strategies” for more details.) Liquidation arbitrage. Genesco's management would be well advised to insist on a floor to ensure that the certain erosion of FINL's stock price resulting from inevitable arbitrage shorting of FINL will not destroy the value received by GCO's current shareholders. In a stock-for-stock merger, the pre-merger arbitrage spread opportunity exists .. The risk, of course, is that the deal falls through, and the spread widens quickly. Most smaller event-driven funds in Asia are skewed towards softer catalyst opportunities: the firms that tend to really focus on risk arbitrage in Asia are global funds looking to deploy assets to the region. This is the flip side to merger arbitrage. Merger risk arbitrage loosely refers to practices that investors use to profit from arbitrage spread opportunities typically created by cash or stock acquisitions of publicly traded companies. A detailed look at an important hedge fund strategy. By James Williams – Athos Capital is a new merger arbitrage hedge fund founded by portfolio manager Matt Moskey, trader Erik Senko and former COO of Black's Link Capital, Fr. Staying Market Neutral As investors crave more advanced The underlying index is rebalanced every five days, rather than monthly or quarterly, allowing for the fund to capture these event driven gains. Two key aspects of Perry's acquisition transactions in Mylan stock may have driven the outcome of the Perry Order.

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