Tesla (TSLA)/SolarCity (SCTY) Deal Spread Lowest Since Late August

October 20, 2016 12:41 PM EDT
Get Alerts SCTY Hot Sheet
Price: $8.20 --0%

Overall Analyst Rating:
    NEUTRAL (= Flat)

Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

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%.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Insiders' Blog, Mergers and Acquisitions, Rumors, Trader Talk

Related Entities

Tesla, Definitive Agreement