'Mega-deals' serve to vindicate excess money in the marketplace

Mergers and aqcuisitions

Merger arbitrage managers have seen increasing opportunities in the last six months and a number of larger 'mega deals' and hostile acquisitions.

However, merger arbitrage is yet to over-take the other main event-driven strategy, distressed investing, and is unlikely to return to the levels of 1999/2000.

According to Dorothy DeWitt, manager the GAM Multi-arbitrage Fund, while there is increasing deal flow, enthusiasm will be dampened by caution. "There were a lot of senseless and costly acqui

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