In today’s briefing:
- Celltrion Merger Announcement in July: Trading Angles Utilizing Appraisal Rights Exercise Dynamics
Celltrion Merger Announcement in July: Trading Angles Utilizing Appraisal Rights Exercise Dynamics
- According to Invest Chosun, Celltrion plans to submit a merger registration statement to the KRX in July, with Mirae Asset Securities acting as the lead underwriter.
- Given that the approximate timing of the merger registration statement submission has already been exposed to the market, we can track the difference between the spot and exercise prices.
- Celltrion Inc will likely attempt to minimize the appraisal rights price. We can consider capitalizing on this possibility by shorting Celltrion Inc while going long on the other two companies.
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