MergerArb99

Merger Arbitrage / Event Driven. See my trades including sizing on X. If you want to chat, PM me.

[MergerArb99 @MergerArb99]

#539 if this $SWTX $47 deal price is right then I’m def voting against this deal! For first time in a long time. And so will many people I know. Ridiculous for the board to accept it! Sector is down 14% because of Trump risk off but still this company shouldn’t be sold below $60

[MergerArb99 @MergerArb99]

#525 BUY $SWTX @ $53.9. Initiated 2% NAV position in this promising pre event situation. If announced expect this to trade very tight!

[MergerArb99 @MergerArb99]

#536 added 1% NAV in $SWTX @ $41.95

[MergerArb99 @MergerArb99]

#538 SELL $CIX @ $31.15. Been reducing this position over the last few days down to 5% NAV

[MergerArb99 @MergerArb99]

#507 BUY $CIX @ $31.22. New deal. 13% NAV position.

[MergerArb99 @MergerArb99]

#537 SELL $SPT LN. Shorted 2% NAV in this today @ 175p

[MergerArb99 @MergerArb99]

#479 BUY $SPT LN @ 172.37 - 6.0% NAV position

[MergerArb99 @MergerArb99]

#484 SELL $SPT LN. Sold whole position @ 175p. Hell or high water is there but I think this will prob take much longer than I originally anticipated to close!

[MergerArb99 @MergerArb99]

#535 BUY $AMED @ $92.81. Added 1.5% NAV

[MergerArb99 @MergerArb99]

#379 BUY $AMED @ $93.45 - 3% NAV position for now…will look to add

[MergerArb99 @MergerArb99]

#533 BUY $AMED @ $92.66. 2% NAV position. Rebuilding this one. Should pop on any new signed agreements (for the overlapping assets) and then settlement hopes.

[MergerArb99 @MergerArb99]

#534 ABA Spring conference coming up in a few weeks. That should be fun…nothing in the world compares to seeing an arb scrum

[MergerArb99 @MergerArb99]

#532 $ITCI HSR done! Another core position closing but we need more deals!

[MergerArb99 @MergerArb99]

#519 BUY $ITCI @ $127.18. Initiated 9% NAV position

[MergerArb99 @MergerArb99]

#531 BUY $TKWY @ EUR 19. I know this space quite well, antitrust risk should be low. 10% NAV position deployed.

[MergerArb99 @MergerArb99]

#527 all in all….Emerson not bumping, no interloper risk given Emerson huge stake, Elliott staying put most probably…and offer likely to succeed in the end with good likelihood this wobbles as “optionality” trade turns into an $LTG like moment! All in all good short above offer

[MergerArb99 @MergerArb99]

#526 SELL (Short) $AZPN @ $267.8….15% NAV position. That was easy intra-day money! Elliott is staying put..Emerson is best and final….not same thing as U.K. best and final but these guys not bumping to make Elliott money that’s for sure!

[MergerArb99 @MergerArb99]

#524 $LTG LN vote done!

[MergerArb99 @MergerArb99]

#522 BUY $LTG LN @ 90p. 5% NAV position. U.K. Scheme that trades very wide due to SH Vote risk which I think its unwarranted. I think either one or both of the shareholders complaining about the price will fold or attendance will be high enough where their votes don’t matter

[MergerArb99 @MergerArb99]

#523 in either case we shall see a resolution tomorrow.

[MergerArb99 @MergerArb99]

#521 $SMDS / $IP finally done!!!! What a ride!

[MergerArb99 @MergerArb99]

#445 BUY $SMDS @ GBp 362.21 / SELL $IP @ $39.69. Fully hedged at a 12.5% gross spread. This European arb situation too good at these levels to ignore. Initiated a 4% NAV position. IP taken out by a Brazilian company like Suzano? No way! Makes no sense…hence the full hedge

[MergerArb99 @MergerArb99]

#475 well it looks like common sense prevails again in the $IP / $SMDS Suzano saga! 30% spread becoming a 3% spread overnight! Bid-Ask was just too high! Another classic example of Buffet’s famous quote “be fearful when others are greedy and greedy when others are fearful”

[MergerArb99 @MergerArb99]

#520 SELL (Short) $TGI @ $25.23. 10% NAV position. This thing was trading way too tight today! Long stop relatively short, huge premium etc.