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LMHA - Top Merger Stocks Held By Fund Managers Mid-Q2 2020
Legg Mason Inc. 6.375% Junior Subordinated Notes due 2056
This has arguably been the toughest time in merger arbitrage in years. The coronavirus has wreaked havoc on pretty much everything in the world, M&A included. Deals that were signed before the uncertainty of the virus were done at valuations that might not make sense in our new world.
However, mergers are legal documents that attorneys of the targets and acquirers spend hundreds of hours working on. Many of the current agreements are ironclad. But acquirers' lawyers and some (not all) of their largest shareholders are pouring over the definitive agreements trying to find a