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Many don't know but $1000 bills are still legal tender. They are pretty rare and are collector items essentially.
There is a saying that merger arbitrage is like "picking up nickels in front of a steamroller". The last few weeks in the sector have seen many steamrollers but a different currency denomination. One could argue a more appropriate phrase could be 'picking up $1000 bills in front of a steamroller'. Deal spreads which had been anywhere from 0-to-5 percent have gone to 20%, 30%, 50%, 70% or more.