beegdawg007

More Drama at Cleveland-Cliffs: Harbinger To Block Deal?

Here's a thought. Say I'm a hedge fund who would like to get max profits from this CLF buyout of ANRl. I already have a 16% postition in CLF so I might just act as though I'm going to scuttle the deal. As a result, ANR would trade below the offer of ..95 shares of CLF + $22 because the market does not believe it will happen. Meanwhile, I acquire either options or shares of ANR to a maximum level before I have to declare a position in the company. I than agree to allow the deal go off at the current offer! Just maybe I would have locked in a really nice premium of $25 or so on all of those ANR shares. Naw.... not possible ... nice hedgies don't do that sort of thing!