Hi Mo!There is also the time value of money and "opportunity costs" to consider. The extra $3 profit on the deal ( selling at $77 now versus waiting on $80 ) say, 9 months from now, equals an annualized return of about 5.2% ( putting aside issues such as what if the deal doesn't go through; whether or not selling now would trigger a short-term capital gain versus a long-term one, etc. ).If you feel you can earn better than 5.2% in an alternate investment in the next nine months, why tie your money up in more WWY? Of course, if the deal gets done in six months, the case for holding for the $80 gets stronger; a year, it gets weaker.That's why they call it arbitrage! ;-)Cheers!Murph
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