Tendered Inhibitex
I tendered my Inhibitex (Ticker: INHX) shares today. I’m going sit back and wait for the cash. I don’t see any compelling risk arb opportunities right now. I’ve pretty much made my year with the Pharmasset and Inhibitex plays. I went “all in” in both deals as I saw the risk reward to be very favorable. Inhibitex was truly a gift…
posted by Money Turtle @ 10:22 PM
4 comments
4 Comments:
Two back to back good arbs. I didn't go all in but made a nice chunk of change.
MMI is the next one. The spread has narrowed.
I was hoping MMI would remain wide until the EU decision next week, but news leaked out. The deal is also dependent on MOFCOM (China antitrust) to give their ok. MOFCOM tends to take their sweet time to make a decision.
True - but I expect the yield to be better than the bank.
Of course... especially if you use leverage, it makes the return very attractive.
I look for annualized returns of +20% whenever I'm dealing with risk arb plays. Anything lower is not worth the risk to me.
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