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

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

Two key aspects of Perry's acquisition transactions in Mylan stock may have driven the outcome of the Perry Order. 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. Industry, serving traders looking to profit from events including corporate catalysts, takeovers, mergers and restructuring deals. Alexander's (NashvillePost) A Dallas-based hedge fund that specializes in merger arbitrage and similar "event-driven investments" has declared a 5.1 percent stake in J. This is the flip side to merger arbitrage. After spending two years at Citigroup, I found an interesting opportunity at a firm called Cathay Financial that blended both my finance experience and my law background, and I joined them as a “merger arbitrage” analyst. Case studies are what you really do on the job – you generate investment ideas, present them to the PM, and aim to profit from your ideas while mitigating risk. Considering how the merger revival that so many strategists and analysts predicted has not occurred, the event-driven community is in all the same names. I was at Nomura for a little over a year and then joined Owl Creek Asset Management, a hedge fund, where I specialized in global risk-arb event-driven investing and also Asia equities. With something like merger arbitrage (or anything else that's event-driven), you can still apply the same framework but the catalyst becomes a much more central part of your recommendation. The risk, of course, is that the deal falls through, and the spread widens quickly. Merger arb fund having fun in J. Analyst on their risk-arbitrage team. (See “Event Driven Strategies” for more details.) Liquidation arbitrage. Special situations brokers have traditionally catered to merger arbitrage and event-driven funds. Often, you're tasked with analyzing an investment opportunity with . 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. Merger Arbitrage: How to Profit from Event Driven Arbitrage. In a stock-for-stock merger, the pre-merger arbitrage spread opportunity exists ..