Wednesday, August 4, 2010

LIA/PRS.MC arb no longer as sweet

Deal terms from what I posted about earlier at Uptrending Equity: Obscure merger arb have changed today to this:

I don't have time right now to figure out if there is any arb remaining under these terms. However, the price action of LIA would tell me to be out of at least the short LIA leg of the trade for now.