Bad Bet with the PENN merger arb opportunity
As the termination news on the Penn National Gaming (PENN) merger hits the wire on July 3rd, I realized that I need to bring closure on one of my trading ideas. In my previous PENN merger arbitrage post, I entered into a ”paper-trade” hoping to capture +20% return on 419 shares. Since then, the credit crunch hit this trade in full [...]
Merger Arb oppty with Penn National Gaming
If you are interested in side stepping some of the recent market volatility with a short-term merger arbitrage strategy, why don’t you roll the dice with the pending merger transaction of Penn National Gaming Inc (PENN)….
The recent shareholder approval on December 12th, 2007 provides on more step closer to closing the deal.
On June 15, 2007, [...]
Merck/Sirna Merger Arb results in 8.4% APR
As you may previously recall, I entered into a merger arbitrage trade position for my short-term mock portfolio with Merck (MRK) and Sirna Therapeutics. Here is the link to the original post… MergerArb#1.
On Friday December 29th, 2006 Merck & Co., Inc. announced that it has successfully completed the acquisition of Sirna Therapeutics, Inc. in a [...]
