January 9, 2008
A Bad Time to be an Arbitrageur
Pity the arbitrageur -- 2007 was probably their worst year because of failed deals. A case in point -- the price offered for Clear Channel Communications shares in an LBO scheduled to close in March is $39.20; the stock closed yesterday at $34.01, for a spread of 15%. WSJ, Arbs Are Wary On Takeovers.
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