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  • Violent Trade: M&T Provident Transaction Offers 4%+ Return in 2 Months 0 comments
    Apr 17, 2009 10:09 AM | about stocks: PBKS, MTB

    Buy: PBKS

    Short MTB ~170 shares for every 1000 of PBKS

     

    Cash Transaction close by end of May

     

    M&T Banks is one of the solid banks in America. One of its investors is Warren Buffet. M&T has a strong presence in the northeast region of America. Their headquarters is in Buffalo, with operations from there down to Baltimore.

     

    PBKS is a Baltimore-area bank. MTB has already outline plans to integrate PBKS which include laying off employees, providing a severance package, and giving preference to laid off employees to apply for job openings at MTB.

     

    This transaction is actually less complex than the FMCN transaction, since PBKS is a relatively small acquisition. Shareholders have already aproved the deal and all that remains is regulatory approval which should be a cinch.

     

    The net trade should yield you an 4%+ return in about 2 months!

     

    Take a look at my blog at www.violentcapitalist.com on how you can extend the value of this trade to 8.6%!

    Disclaimer: I have an interest in PBKS

    Themes: arbitrage, merger arbitrage, options Stocks: PBKS, MTB
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