My back of envelope calculations says that the BAC-MER spread widened over 10% over the course of the day
There's a risk that MER will end up in BK before BAC can close on the deal. If I owned MER, I would've sold it.
who would buy a troubled company for 50b, without even knowing what is their exact condition? agreeing on buying during the weekend? exactly at the same time leh went literally bust? give me a break. this looks like bcs but with the opposite outcome...
the deal is a stock swap... .8595 bac for each mer. .8595 x26.95(mer price)=23.16 MER closed at 17.37 not 23.16...what the fk?