Joaquín Mercado Sapiaín
Special situations, event-driven, arbitrage, research analyst

M&A In Travel: An Opportunity To Trade On The Potential Acquisition Of Swiss Kuoni Group

(Editor's Note: Investors should be mindful of the risks of transacting in securities with limited liquidity, such as KUIRF and KUIRY. Kuoni's listings in Europe may offer greater liquidity.)


On 4 Jan 2016, the very first day of trading this year, investors witnessed a market drop-and-stop in China and knock on effects in major global stock markets.

This was less of a problem for those long Kuoni Reisen Holding AG (OTC:KUIRF, OTCPK:KUIRY) ("KUNN"), listed in Zurich.

As soon as traders returned to their desks after sipping champagne during New Year's celebrations, rumors started that KUNN was subject to a takeover offer.

The company released a statement on 5 Jan 2016 indicating that it had received "

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