It’s hard enough to be a risk arbitrage these days, what with the lack of deals in which to invest, but even when there is a new deal, it seems to bring its share of pain and joy.
I’m talking about Boeing’s deal to acquire Argon ST.
It’s not a big deal to be sure.
But it was widely known that Argon was for sale and so there was ample time for plenty of takeover stock investors to get involved on hopes that a knock-out bid would emerge for the company.
Sure enough, it did. Boeing is paying roughly 13 times the company’s expected EBITDA of $56 million this year.
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