It's high noon for some notable deals, such as the Cablevision (CVC) buy-backand Oracle’s (ORCL) bid for BEA System (BEAS). What's the trade as these deal deadlines rapidly approach?
Karen Finerman said it’s the 11th hour for Chuck Dolan and Cablevision. He needs 50% of the non-Dolan shareholders to vote in favor of the buy back. As of Tuesday night 4 big investors said they opposed the move.
However, Finerman added if the Dolans can sway one of the big investors currently opposed, the deal could happen.
Finerman thought that BEA Systems did the right thing by rejecting by Oracle’s first bid. She expects that another one will come.
There’s a deal on the table for URS Corp (URS) to takeover Washington Group (WNG), explained Finerman. She thought URS will have to bump up it’s offer or they won’t get the vote. This is the trade she liked best.
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Trader disclosure: On Oct 23, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (COH), (DIS), (EMC), Najarian Owns (SII), (C), (GOOG), (YHOO), Najarian Owns (AMZN) Options; Finerman Owns (C ), (GS), (BIIB), (BEAS), (MSFT); Finerman's Firm And Finerman Own (TGT); Finerman's Firm Owns (WMT), Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts