Merck/Sirna Merger Arb results in 8.4% APR
As you may previously recall, I entered into a merger arbitrage trade position for my short-term mock portfolio with Merck (MRK) and Sirna Therapeutics. Here is the link to the original post... MergerArb#1.
On Friday December 29th, 2006 Merck & Co., Inc. announced that it has successfully completed the acquisition of Sirna Therapeutics, Inc. in a cash transaction which closed in the fourth quarter of 2006. This date was 3 days later than my projected bull case.
Trade results in a profit after commissions of $125 or 8.4% APR.
Disclosure: This strategy is highlighted for entertainment purposes for my mock short-term portfolio.
2 comments:
If you want to track Merger Arbitrage opportunities, go to http://www.mergerinvesting.com/pendingmergers.php
Not a bad trade.
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