VER - Vereit Now Trades At A Premium To Realty Income Merger Ratio What To Do
- Shareholders have approved the previously announced Realty Income purchase of Vereit.
- Shortly after the announced sale, almost all the "arbitrage value" of Vereit disappeared, and actually Vereit now trades at a premium to .7x Realty Income's share price.
- I was overweight both and sold most of my Realty Income, which in retrospect was an error as O yields more than VER.
- Yesterday I sold $45 covered calls on Vereit expiring today, nearly guaranteeing I'll be "called out" this weekend.
- With all due respect to the guys from R.E.M., with the points above, I feel fine with this outcome.
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Vereit Now Trades At A Premium To Realty Income Merger Ratio, What To Do