EDR trading above acquisition price?
Can any of you brainy arbs tell me why EDR is trading above Silver Lake's bid? Seems like there's somewhat of a NAV discount with TKO and maybe people think Silver Lake may bump of the bid? But Ari is buddy buddy with the PE folks so that seems unlikely? Idk I'm just an event tourist...
Based on the most helpful WSO content, when a stock like EDR trades above an acquisition price, it often signals that the market anticipates a higher bid or improved terms. In this case, the NAV discount with TKO could be a factor, but the market might also be speculating on potential competitive bids or adjustments to the deal structure. However, given the close relationship between Ari and Silver Lake, a bid bump seems less likely unless external pressures or shareholder activism come into play. Arbitrageurs might be pricing in a small probability of these scenarios, but as always, it's a calculated risk.
Sources: Vista Equity Partners vs. Silver Lake, Tides Equities?, Evercore paying up to $25,000 to delay start date, Estee Lauder / Tom Ford Deal Rationale, NBO for acquiring a distressed asset
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