Thomas Kirchner 
Merger Arbitrage [PDF ebook] 
How to Profit from Global Event-Driven Arbitrage

Mitigate risk and increase returns with an alternative hedge
fund strategy
Merger Arbitrage: How to Profit from Event-Driven Arbitrage,
Second Edition is the definitive guide to the ins and outs of
the burgeoning merger arbitrage hedge fund strategy, with
real-world examples that illustrate how mergers work and how to
take advantage of them. Author Thomas Kirchner, founder of the
Pennsylvania Avenue Event-Driven Fund, discusses the factors that
drove him to invest solely in merger arbitrage and other
event-driven strategies, and details the methods used to
incorporate merger arbitrage into traditional investment
strategies.
And while there is always a risk that a deal will fall through,
the book explains how minimal such risks really are when the
potential upside is factored in. Early chapters of the book focus
on the basics of the merger arbitrage strategy, including an
examination of mergers and the incorporation of risk into the
arbitrage decision. Following chapters detail deal structures,
financing, and legal aspects to provide the type of in-depth
knowledge required to execute an effective investment strategy. The
updated second edition stresses new, increasingly relevant
information like:
* Worldwide legal deal regimes
* UK takeover code
* UK takeover code global offspring
* Regulators around the world
The book provides clear, concise guidance on critical
considerations including leverage and options, shorting stocks, and
legal recourse for inadequate merger consideration, allowing
readers to feel confident about trying a new investment strategy.
With simple benefits including diversification of risk and return
streams, this alternative hedge fund strategy has a place in even
the most traditional plan. Merger Arbitrage: How to Profit from
Event-Driven Arbitrage, Second Edition provides the information
that gives investors an edge in the merger arbitrage arena.

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