Monday, October 25, 2010

QXM/XING merger

The merger arb on QXM is still ripe.  QXM filed a Form 13E-3 over the weekend in order to move the planned merger forward.  With XING priced over 1.80/sh at the time of this post, each QXM shareholder will receive over $4.2/sh in cash and XING stock if the deal goes through, which is still a big premium to current prices.  I'm voting my shares in favor of the deal.    I'm still waiting to consider shorting XING against my QXM long since the charts for both are still quite bullish given the recent bull raid in chinese mining stocks.