This article explains the reasons behind the movement in a selection of the largest U.S.-based cash merger arbitrage spreads from the past week. We also analyze the attractiveness and profitability of each spread going forward and indicate the trading position or action we have taken (if any).
Deal Specifics
Pacific Biosciences of California (PACB) up 1.66%, rose following the announcement that they and acquirer Illumina had filed a DEFR14A - Revised definitive proxy soliciting materials filing detailing information to be used at a special stockholders meeting to be held on Thursday, January