Merger Arbitrage: How to Profit from Global Event-Driven Arbitrage (Wiley Finance) - Hardcover

Kirchner, Thomas

Hardcover

ISBN 10: 1118736354 ISBN 13: 9781118736357

Publisher: Wiley, 2016

Synopsis

Mitigate risk and increase returns with an alternative hedge fund strategy Merger Arbitrage: How to Profit from Event-Driven Arbitrage, Second Edition is the definitive guide to the ins and outs of the burgeoning merger arbitrage hedge fund strategy, with real-world examples that illustrate how mergers work and how to take advantage of them. Author Thomas Kirchner, founder of the Pennsylvania Avenue Event-Driven Fund, discusses the factors that drove him to invest solely in merger arbitrage and other event-driven strategies, and details the methods used to incorporate merger arbitrage into traditional investment strategies. And while there is always a risk that a deal will fall through, the book explains how minimal such risks really are when the potential upside is factored in. Early chapters of the book focus on the basics of the merger arbitrage strategy, including an examination of mergers and the incorporation of risk into the arbitrage decision. Following chapters detail deal structures, financing, and legal aspects to provide the type of in-depth knowledge required to execute an effective investment strategy. The updated second edition stresses new, increasingly relevant information like: * Worldwide legal deal regimes * UK takeover code * UK takeover code global offspring * Regulators around the world The book provides clear, concise guidance on critical considerations including leverage and options, shorting stocks, and legal recourse for inadequate merger consideration, allowing readers to feel confident about trying a new investment strategy. With simple benefits including diversification of risk and return streams, this alternative hedge fund strategy has a place in even the most traditional plan. Merger Arbitrage: How to Profit from Event-Driven Arbitrage, Second Edition provides the information that gives investors an edge in the merger arbitrage arena.

About this title

From the Back Cover

The Ultimate Guide to Risk Arbitrage-- Fully Revised and Updated for Global Investors

Merger Arbitrage: How to Profit from Global Event-Driven Arbitrage, Second Edition is the newly revised, authoritative guide to the ins and outs of the explosive merger arbitrage hedge fund strategy.

Designed with the serious investor in mind, this expanded edition sheds light on the most important issues in the field worldwide, with an international collection of examples illustrating the practical realities of mergers and the ways the best in the field are profiting from these event-driven transactions. Brand-new coverage in this much-needed update includes:

• A relevant, global perspective on this specialized approach to investing
• A thorough examination of the United Kingdom's Code on Takeovers and Mergers and similar regulations in other countries
• An expanded toolkit of knowledge and techniques for entering the global market with a distinct advantage

In a global marketplace of volatility and unpredictability, investors need a cornerstone of low risk and high-probability returns in their portfolios, and Merger Arbitrage, Second Edition has the perfect way to get it.

About the Author

THOMAS F. KIRCHNER is a portfolio manager of the Quaker Event Arbitrage Fund, a mutual fund that uses merger arbitrage as one of its investment strategies.

Edition details

• Publisher: Wiley
• Publication date: 2016
• ISBN 10: 1118736354
• ISBN 13: 9781118736357
• Binding: Hardcover
• Language: English
• Edition number: 2
• Number of pages: 528