Aug. 14 at 11:49 AM
merger arb in one breath, using
$IMXI. western union is buying it for 16.00 cash. shares sit near 14.64 premarket after new york's DFS signed off, so roughly 9% of gross spread is still open. that gap is the odds of a break or a long drag. why it hasn't closed: on aug 13 california's DFPI suspended the approval extension it had granted july 31. cash deals only converge to the deal price when the last regulator says yes. until then the spread is priced doubt.
