El, NW, and the thread: interesting trades today:
HWP at 12:21:51 1,265,000 shares traded at 20.62 with bid/ask at 20.61 x 20.62 = so it was a buy ?
CPQ at 12:22:41 2,000,000 shares traded at 10.792 with bid/ask at 10.76 x 10.77 = clearly a BUY
Now here's my question. If the HWP trade were a SELL then we had an arbitrage pair of trades
VOTING FOR the merger.
Can anybody explain why the HPW trade looks more like a buy than a sell, and if that's the case,
WHY would anybody pair these two trades as TWO BUYS ???
By the way: 1,265,00 / 2,000,000 = 0.63, which is almost exactly the merger conversion ratio of 0.6325
Thanks for any light onto this transaction (the biggest of today ...)
Piotr |
