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Saul Sterman » Comments » LYV
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Wall Street Breakfast: Must-Know News [View article]
www.crossprofit.com/vi...
As stated in article, no position was taken in this arbitrage. As the title suggests, there were just too many question marks popping up. Upon this last earnings miss, Apollo called a MAC yesterday effectively nullifying the acquisition agreement. There may NOT be a break-up fee though HUN has gone to court!
HUN should have negotiated a new price tag though the whole scenario is very problematic as certain shareholders already cashed out. This deal looks dead; funeral dance (courts) to follow.
Saul Sterman