Risk arbitrage : an investor's guide /
The definitive guide to risk arbitrage, fully updated with new laws, cases, and techniques Risk Arbitrage is the definitive guide to the field and features a comprehensive overview of the theory, techniques, and tools that traders and risk managers need to be effective. This new edition is completel...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Hoboken, New Jersey :
John Wiley & Sons, Inc.,
[2018]
|
| Edition: | Second edition. |
| Series: | Wiley finance series.
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| Subjects: | |
| Online Access: | CONNECT |
MARC
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| 100 | 1 | |a Moore, Keith M., |d 1952- |e author. | |
| 245 | 1 | 0 | |a Risk arbitrage : |b an investor's guide / |c Keith M. Moore. |
| 250 | |a Second edition. | ||
| 264 | 1 | |a Hoboken, New Jersey : |b John Wiley & Sons, Inc., |c [2018] | |
| 300 | |a 1 online resource (xi, 353 pages) | ||
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| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a Wiley finance series | |
| 500 | |a Wiley EBA |5 TMurS | ||
| 505 | 0 | |a Cover; Title Page; Copyright; Contents; About the Author; Chapter 1: Introduction; Chapter 2: What Is Risk Arbitrage?; Types of Transactions; Mergers; Tender Offers; Exchange Offers; Spinoffs; Recapitalizations; Activist Situations; Speculative Situations; Chapter 3: The Risk Arbitrage Industry; Chapter 4: Estimating the Return on a Risk Arbitrage Position; Simple Deals; Stock-for-Stock Deals; Stock-for-Stock Deals Using a Fixed-Exchange Ratio; Using Short Sales to Lock-in a Deal Spread; Complex Stock Merger Transactions; Collars on Stock-for-Stock Transactions; Example 1; Example 2. | |
| 505 | 8 | |a Actual Example of a Collar DealProrated Transactions; Leverage; Example; Leveraged Returns on Stock-for-Stock Transactions; Example; Spread Behavior over Time; Timing of Risk Arbitrage Transactions; Estimating Timing in Merger Transactions; Estimating Timing in Tender Offer Transactions; Chapter 5: Estimating the Risk of Arbitrage Transactions; Assess the Price History of the Target Company; Example; Estimating the Total Risk of a Transaction; Example; Using Other Methodologies to Assess the Risk of Arbitrage Transactions; Using the Market-Adjusted Return Method to Assess Risk. | |
| 505 | 8 | |a Estimating Changes in Market Values Using a Sample of Comparable CompaniesCalculating PRGO's Implied Price Using P/E Method; Calculating PRGO's Implied Price Using EV/Sales Method; Calculating PRGO's Implied Price Using EV/EBITDA Method; Conclusion; Chapter 6: Estimating the Probability of a Transaction's Occurrence; Gathering Information; Conducting Initial Research; Gathering Financial Information on the Proposed Transaction; Gathering Legal Information on the Proposed Transaction; Example; Vertical Mergers; Committee on Foreign Investment in the United States (CFIUS). | |
| 505 | 8 | |a The European CommissionMOFCOM; Gathering Tax and Accounting Information of a Proposed Transaction; Conclusion; Chapter 7: The Risk Arbitrage Decision Process; Dynamic Aspect of Risk Arbitrage Analysis; Example; Even-Money Probability-A Tool for Risk Arbitrage Decision Making; Even-Money Probability Formula; Calculating Complex Risk-Adjusted Returns; Chapter 8: Hostile Takeovers; Differences between Contested and Uncontested Takeovers; Takeover Defenses; Staggering the Tenure of the Board of Directors; Diluting Shares via Poison Pills; Using Defenses Based on Bylaws. | |
| 505 | 8 | |a Defending via Private LawsuitsUsing State Takeover Laws as a Defense; Other Types of Defenses; Regulatory Defenses; The Just-Say-No Defense; Defenses Against Activist Investors; Recapitalization; Sale of the Target Company; Predicting the Outcomes of Various Defensive Strategies; A Hostile Takeover Case: Airgas/Air Products; Use of Decision Trees; Example; Estimating Value in Contested Takeover Attempts; Analyzing Comparable Companies; Analyzing Comparable Transactions; Analyzing Discounted Cash Value; Summary of WFM Situation and Valuation Estimates; Risk Assessment; Summary. | |
| 588 | 0 | |a Online resource; title from digital title page (viewed on May 07, 2018). | |
| 520 | |a The definitive guide to risk arbitrage, fully updated with new laws, cases, and techniques Risk Arbitrage is the definitive guide to the field and features a comprehensive overview of the theory, techniques, and tools that traders and risk managers need to be effective. This new edition is completely updated and fully revised to reflect the changes to laws and technology and includes new case studies and a detailed discussion of computer-based trading systems. Readers gain deep insight into the factors and policies that affect merger transactions, and the new developments that allow individuals to compete with professionals in managing risk arbitrage portfolios. The book provides techniques for computing spreads and determining risk, with practice exercises that allow readers to become confident with new methods before using them professionally. The current wave of corporate mergers, acquisitions, restructurings, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. At the same time, the nature of the current merger wave has lent such transactions a much higher degree of predictability than ever before, making risk arbitrage more attractive to all types of investors. Risk Arbitrage provides the essential guidance needed to participate in the business. Get up to date on the most recent developments in risk arbitrage Examine new mergers and the legal changes that affect them Learn how computers and trading systems have affected competition Use the tools that enable risk determination and spread computation Both the growth in hedge funds and the changing nature of the merger and acquisition business have affected risk arbitrage processes and techniques. For the finance professional who needs expert guidance and the latest information, Risk Arbitrage is a comprehensive guide. | ||
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