Has the death of merger arbitrage been greatly exaggerated?

merger arbitrage

The epitaph for merger arbitrage has been written more than once. For example, Arne Hassle, chief investment officer at Coronation Fund Managers, says: "Pure merger arbitrage is a strategy we doubts will ever re-emerge as a single strategy."

John Godden, managing director of HFR adds: "Merger arbitrage (M&A) has been deeply unpopular because the opportunity set has not been there. There was a comeback forecast for 2003, which didn't mature."

However, 2004 proved that merger arbitrage is not de