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arbtrader

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  • Merger Arbitrage Blog- Part Three [View instapost]
    I'm sure that there is a joke about German precision somewhere in there...mid year is long gone.
    Jul 30, 2015. 09:49 AM | Likes Like |Link to Comment
  • Merger Arbitrage Blog- Part Three [View instapost]
    I've seen that clause in the past. Protects the debt seller from the deal falling through and the co doing whatever they please with the $. (Bonus time, everyone!).
    Best, AT.
    Jul 30, 2015. 09:48 AM | Likes Like |Link to Comment
  • Merger Arbitrage Blog- Part Three [View instapost]
    $OWW- Dealreporter says that there are some filings opposing the merger, presumably from industry players. Don't have a sub, this is 3rd hand. They can move arb stocks w their reporting. Best, AT.
    Jul 28, 2015. 02:11 PM | 1 Like Like |Link to Comment
  • Chance To Profit Off The SFX Entertainment Going Private Transaction? [View article]
    Share count on the D is the exact same for 6/19 and 7/13.

    So the new 7/13 D would have to reflect any new shares. The D was filed to amend item 4.

    So I'm guessing he has not been buying shares cheaply?

    Best, AT.
    Jul 28, 2015. 09:06 AM | Likes Like |Link to Comment
  • Chance To Profit Off The SFX Entertainment Going Private Transaction? [View article]
    I believe the increase was the capital raise on 17 June which was very public.

    Other than that, has he bought any additional shares?

    Best, AT
    Jul 27, 2015. 10:32 PM | Likes Like |Link to Comment
  • Merger Arbitrage Blog- Part Three [View instapost]
    So OVTI DID hold a vote yesterday, right?

    no K, no PR, nuthin'

    I am beginning to believe they deserve that spread the way they treat their SH. In a crap deal, no news is bad news.
    Jul 24, 2015. 10:01 AM | Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    I have heard that divestment will likely go to SP 100 companies looking to expand their energy portfolio. GE, etc. I'm not sure the viability of the buyer will be a problem here as they will be big cos looking to buy a product line vs trying to build out in a competitive industry. Just my .02. Best. AT.

    ALTR- don't get it at all, unless 'they're gonna be really big' is reason to now block a deal. Worries about MOFCOM slapping back at CIFIUS for deals in the pipe ahead of ALTR getting hit? Legit, but I don't know enough to game that.

    OWW -you can make the case both are online, etc. Having seen how quickly a leader can become a dog online I tend to ignore monopolistic worries. (see:MySpace). Best. AT.
    Jul 23, 2015. 02:55 PM | Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    TPH -energy boutique firm in Tx- said the same thing....nothing new. Article just a summary and that HAL was ready for followup meetings to see what else was needed.

    They also said that on a day w no buyers/bids in the market any negative news was going to hammer the sector.
    Jul 23, 2015. 12:24 PM | Likes Like |Link to Comment
  • Quality Distribution A Top Opportunity In The Merger Arbitrage Space [View article]
    I like the deal and view the CIFIUS review getting extended as a minor, but possible risk. More than once, third-hand I've heard 'they're backed up in DC.'

    Like the RVBD transaction that we went through hell and back only to face a last minute CIFIUS delay....my only concern here. But not about ultimate passage.

    The recent ratings by Moody's & SP would seem to indicate they have begun or will soon begin the debt MP. Another positive. Best, AT.
    Jul 18, 2015. 02:29 PM | Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    if any one is in HSP. It received NZ approval thursday. No conditions, any overlap is addressed by the market competitors. Hopefully a preview of other investigations.

    BTW, gotta love NZ. They put everything on their website, in sharp contrast to the US and EU who are..can we agree?...slow to release public data in a uniform, consistent manner?
    Best, AT.
    Jul 17, 2015. 11:59 AM | 2 Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    Priceline said right after they inked the deal that they did not consider it competition. I think today is the typical news driven reaction vs anything of substance breaking. Negative news causes incremental selling at the same time that anyone buying would pull bids for the same reason=down move.
    Probably the worst time to try to reposition or cut your size. not much options action either. GL, AT.
    Jul 14, 2015. 02:29 PM | Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    MT- the 's' does imply multiple bidders/sources of finance but it's written so poorly it also could just be the jr legal guy trying to make something out of nothing.

    Interesting to see monday what the buyers think of this (good news or just more amateur hour).

    I wish some of the NY press would take an interest but after they passed on any coverage of the weird PIPE equity raise my expectations are low. Best, AT.

    PS_Whenever the prelim drops with the updated history, will be a good read.
    Jul 10, 2015. 05:15 PM | Likes Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    Saw the below. No further details. IIRC this was the same source that trashed JOSB right before it's approval? Bunch of former gov't employees set up for high$ consultancy.
    **********************...

    Altera Corp (ALTR) Weakness Tied to Concerns About Antitrust Risk

    Altera Corp (NASDAQ: ALTR) weakened Thursday, falling over 1% on concerns about antitrust risk surrounding its proposed combination with Intel (NASDAQ: INTC). The source of the concern a blog post at Capital Forum.

    Thu, 09 Jul 2015 11:05:16 -0400
    Jul 9, 2015. 12:17 PM | 1 Like Like |Link to Comment
  • Merger Arbitrage Forum (PART 2) [View instapost]
    Good news:
    CTRX is trading like it's done. Price action today indicates someone knows OH is done which is the last variable, canadian court should be procedural.

    HSP at new highs today on a crap day. Good news coming on the regulatory front? PLL- same.

    ISSI held up well in the bloodbath.

    QLTY back off the floor. Looks like some dummy clearing off the book end of qtr and on the thinnest week possible knocked it down. Ditto CNL.

    Now if SIAL and PPO would just &^%$ close already, I'd be ever so grateful.

    JNK did not decline further today.

    ADVS does indeed, look finally done.

    Finally, LMNS is an Israeli company getting bt by a HK/Chinese PE firm. You would think it would get a double-discount (you old hands know what I'm talking about), but no, it only got dinged today.

    GL, AT
    Jul 7, 2015. 04:43 PM | Likes Like |Link to Comment
  • Chance To Profit Off The SFX Entertainment Going Private Transaction? [View article]
    Re: #2, IIRC he got the deal without delivering any finance details to the BOD but did deliver a guarantee that there was no finance out.

    Usually, a bank will deliver a letter assuring that funds are available if x, x and z happen. There is no letter here.

    Sillerman has said he wants to do all-cash but as the poster notes he's not exactly trustworthy.

    Jeffries is his rep and they can work magic on junk finance now....but this would be a hurdle.

    He has to deliver finance details at the end of the 45d goshop. cash or debt, whatever. The break fee is only 1% till then. So he walks for 7-8mm plus the stock he has to buy at 5.25 from the two finance parties that did the stock deal. (and WTF is up with that? It turned a shaky deal into kryptonite with that left-field capital raise with no warning)

    I like all the Buffett points but this is not a Buffett deal. More like high stakes gambling (with casino odds)

    Best, AT.
    Jul 1, 2015. 08:09 PM | 1 Like Like |Link to Comment
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