Merck Finally Acquired Sirna Therapeutics: See My Merger Arbitrage Results

As you may previously recall, I entered into a merger arbitrage trade position for my short-term mock portfolio with Merck (MRK) and Sirna Therapeutics (RNAI).

On Friday December 29th, 2006 Merck & Co., Inc. announced that it has successfully completed the acquisition of Sirna Therapeutics, Inc. in a cash transaction which closed in the fourth quarter of 2006. This date was three days later than my projected bull case.

Trade results in a profit after commissions of $125 or 8.4% APR.