SolarCity (SCTY)/Tesla (TSLA) Merger Spread Ticks Up Despite Musk Tout
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The spread on the deal has widened 2% today to 12.1%. Yesterday's closing spread was 11.8%. On 10/28 the closing spread was 7.1%, suggesting growing skepticism that the deal will be approved. That said, the average spread since the merger announcement in early August has been 12.54%, and it hit a high of 31.7% on 9/19, according to StreetInsider's Merger Arb tracker.
The shareholder vote is scheduled for 11/17.
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Create E-mail Alert Related CategoriesMergers and Acquisitions, Trader Talk
Related EntitiesBankruptcy, Tesla, Definitive Agreement
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