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No. of Recommendations: 2
Assuming the deal happens as speculated, you are probably right.
However, if the deal doesn't happen and VRTS goes back to yesterday's
close of $25.19, you would lose 12% (25.19/28.60). So you have to look
at this the way the professional arbs do which is to compare the potential risks and rewards. Based on those numbers, I'm not sure the
play is very worthwhile. VRTS is now trading at 27.45 so without
reworking all the #'s, the risk/reward is now much better.
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