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Non-Tech : Attractive opportunities in already announced mergers
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To: Paul Senior who wrote (32)8/16/2010 3:12:29 PM
From: tuck   of 69
 
Another interesting one (haven't dug deep as cash is tied up for a few weeks) is the AYE/FE deal. It's a stock swap, so the short the acquirer long the acquiree strategy is the way. Supposed to close in a month. Premium seems very high (~100% annualized before transaction costs), but I haven't seen the reason for it. Ah, a brief search shows the expected closing date is way off; Dj apparently based it on the date of the shareholders meeting. But various agencies have to approve of it in various sates, and management seems to be talking first quarter of next year at the earliest.

Currently in GLG, which closes in about a month. I see no issues with that one, but return is correspondingly small, ~8% in six or seven weeks.

Cheers, Tuck
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