It was announced last Friday that La Mancha closed a deal with Weather II to be acquired at 3.50CAD /share in cash. link below : http://tmx.quotemedia.com/article.php?newsid=52714928&qm_symbol=LMA I have a bunch of shares and as the price is pretty far from the offer ( went down from 3.43 to 3.39 today) I'm considering holding them to tender for the offer. The publication says : "The Offer will be open for acceptance for a period of not less than 35 days. Weather II has committed to take up and pay for the shares within two business days of being obligated to take up the shares. La Mancha's Board of Directors intends to mail its Directors' Circular recommending the Offer at the same time as the mailing of the Weather II Take-over Bid Circular. The details of the Offer will be contained in the Take-over Bid Circular, which will be available at www.sedar.com. " Does it mean we will get a fax/letter coming to the office after about 2 weeks ? And if I decide to accept it rather than selling the shares in the open market, how long would it take to finish the transaction ? There are no document relating to this event yet on sedar.com Also I don't see legal issues threatening the deal but the share price at the moment hints the market doesn't feel quite as goodl. Any input on the risk of this particular deal beeing cancelled ? Thanks in advance for all constructive input
Yeah, well, I wouldn't mind a better knowledge of merger arbitrage at this moment. Price went down to 3.37 before closing at 3.42 yesterday. Looked like a very decent buy below 3.40. Any extra input ?