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According to the S4 submitted by LABH, an offer will exist for each share of LABS not currently held by LABH. The nature of the offer is either $12.75 per share, or an exchange of LABH stock.

The stock exchange is not entirely straightforward, so you should check the S4 yourself to get the details.

In any event, it looks as if LABS is selling at around a $2 per share discount to what LABH will offer for it.

A second happy consequence is that there is quite a bit of short interest on LABS. As more shares of LABS are taken up by the merger, and as more folks recognize the $2 spread, the shorts will have a harder time trying to cover.

Unless I'm missing something, this is going to be fun.
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