Discussion in 'Trading' started by dsq, Sep 15, 2008.
GETTING BOT BY BAC AND NOW ITS ALMOST GAPPING DOWN INTO CLOSE WHILE BAC STAYS STEADY...?
smart money knows Merril was on the verge of bankruptcy themselves.
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?
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