Jazz Technologies (JAZ) announced on May 19, 2008 that they are being acquired by Tower Semiconductor (TSEM). The final decision of the deal is expected to announced dependent on the results of the special meeting of shareholders scheduled for September 17, 2008. When I started to look into this merger yesterday, the spread was at 15%. Today, August 13, the spread fluctuates between 6-9%. However, this still comes out to an annualized gain in the range of 40-72%.
Continue reading...Saturday, August 16, 2008
I just wanted to let everyone know that I've written a post on another potential merger arbitrage play. With the closing date expected to be Sept 17, those that are interested could start looking into it.
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Saturday, August 30, 2008
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