Tesla (TSLA)/SolarCity (SCTY) Deal Spread Lowest Since Late August
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The merger arbitrage spread on Tesla's (NASDAQ: TSLA) pending takeover of SolarCity (NASDAQ: SCTY) continues to shrink and is at its lowest point since August 23rd, according to StreetInsider data. The move suggests investors see an increasing likelihood that shareholders will approve the merger.
Both companies set November 17 as the date shareholders will vote on the acquisition.
Currently the deal spread sits at 7.6%. It was as high as 31.7% on September 19th and as low as 1.8% on August 10th. The average closing spread is 12.8%.
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Create E-mail Alert Related CategoriesInsiders' Blog, Mergers and Acquisitions, Rumors, Trader Talk
Related EntitiesTesla, Definitive Agreement
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