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Twitter-Elon Musk Deal Has Offered Investors Several Big Opportunities

A host of investors bet on Twitter stock as the shares fell after Elon Musk pulled away from his in

Twitter-Elon Musk Deal Has Offered Investors Several Big Opportunities

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Jeg
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Why? Record profits stood to be made.</p><p>The outcome of the deal remains in doubt, even after Mr. Musk&#39;s surprising proposal earlier this week  to close it as originally approved after months trying to step away. Some investors have already cashed in.</p><p>But the opportunity for those willing to bet Twitter might get the full price after all was massive, according to Morgan Ricks, a Vanderbilt Law School professor who specializes in financial regulation:</p><p>-- Should the Twitter-Musk saga end with a buyout at the proposed price, $54.20, according to Mr. Ricks, it&#39;ll mark the second-biggest arbitrage opportunity for a cash buyout of at least $1 billion since at least 1996.</p><p>&#34;Prior to Tuesday, the market had been pricing in a roughly 50/50 chance of the deal going through,&#34; Mr. Ricks said.</p><p>At one point, the difference between Twitter&#39;s stock price and Mr. Musk&#39;s original offer was 66%, below the 76% record set by Blackstone Group&#39;s 2019 purchase of Tallgrass Energy.</p><p>The cost of that deal, however, was roughly $3.5 billion, far from the potential $44 billion bill for Twitter.</p><p><img src=\"https://static.tigerbbs.com/88d2b85b17b20c85bf1c251838939843\" tg-width=\"704\" tg-height=\"718\" width=\"100%\" height=\"auto\"/></p><p>Investors like Carl Icahn, Daniel Loeb&#39;s Third Point LLC, and D.E. Shaw Group have already profited from wagers on Twitter shares], which give the right to purchase shares at a specific price by a certain date. Some investors took a third route: convertible-bond arbitrage.</p><p>Doug Fincher, a portfolio manager at $3.8 billion hedge fund group Ionic Capital Management, said his fund bought Twitter&#39;s low-yielding convertible bonds, which could be changed into stock if Musk&#39;s deal went through.</p><p>-- Ionic&#39;s trade bet that the price of a bond expiring in 2026 would increase from the the mid-$80s, where it sat in April after cracks emerged in the likelihood of closure, to near $100 should the deal complete. Mr. Fincher said his firm sold its bonds when the price hit $98 on Tuesday after reports that Musk was willing to purchase the company at the original price.</p><p><img src=\"https://static.tigerbbs.com/d541f8ec5d15576cd58bb03b82751d0e\" tg-width=\"853\" tg-height=\"656\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Twitter-Elon Musk Deal Has Offered Investors Several Big Opportunities</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTwitter-Elon Musk Deal Has Offered Investors Several Big Opportunities\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-10-08 07:51</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A host of investors bet  on Twitter stock as the shares fell after Elon Musk pulled away from his initial offer to buy the social media giant. Why? Record profits stood to be made.</p><p>The outcome of the deal remains in doubt, even after Mr. Musk&#39;s surprising proposal earlier this week  to close it as originally approved after months trying to step away. Some investors have already cashed in.</p><p>But the opportunity for those willing to bet Twitter might get the full price after all was massive, according to Morgan Ricks, a Vanderbilt Law School professor who specializes in financial regulation:</p><p>-- Should the Twitter-Musk saga end with a buyout at the proposed price, $54.20, according to Mr. Ricks, it&#39;ll mark the second-biggest arbitrage opportunity for a cash buyout of at least $1 billion since at least 1996.</p><p>&#34;Prior to Tuesday, the market had been pricing in a roughly 50/50 chance of the deal going through,&#34; Mr. Ricks said.</p><p>At one point, the difference between Twitter&#39;s stock price and Mr. Musk&#39;s original offer was 66%, below the 76% record set by Blackstone Group&#39;s 2019 purchase of Tallgrass Energy.</p><p>The cost of that deal, however, was roughly $3.5 billion, far from the potential $44 billion bill for Twitter.</p><p><img src=\"https://static.tigerbbs.com/88d2b85b17b20c85bf1c251838939843\" tg-width=\"704\" tg-height=\"718\" width=\"100%\" height=\"auto\"/></p><p>Investors like Carl Icahn, Daniel Loeb&#39;s Third Point LLC, and D.E. Shaw Group have already profited from wagers on Twitter shares], which give the right to purchase shares at a specific price by a certain date. Some investors took a third route: convertible-bond arbitrage.</p><p>Doug Fincher, a portfolio manager at $3.8 billion hedge fund group Ionic Capital Management, said his fund bought Twitter&#39;s low-yielding convertible bonds, which could be changed into stock if Musk&#39;s deal went through.</p><p>-- Ionic&#39;s trade bet that the price of a bond expiring in 2026 would increase from the the mid-$80s, where it sat in April after cracks emerged in the likelihood of closure, to near $100 should the deal complete. Mr. Fincher said his firm sold its bonds when the price hit $98 on Tuesday after reports that Musk was willing to purchase the company at the original price.</p><p><img src=\"https://static.tigerbbs.com/d541f8ec5d15576cd58bb03b82751d0e\" tg-width=\"853\" tg-height=\"656\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","BK4211":"区域性银行","BK4508":"社交媒体","BK4077":"互动媒体与服务","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","TSLA":"特斯拉","BK4574":"无人驾驶","BK4551":"寇图资本持仓","BK4581":"高盛持仓","QNETCN":"纳斯达克中美互联网老虎指数","BK4511":"特斯拉概念","TWTR":"Twitter","BK4099":"汽车制造商","BK4548":"巴美列捷福持仓","ISBC":"投资者银行","BK4516":"特朗普概念","BK4534":"瑞士信贷持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2273833362","content_text":"A host of investors bet  on Twitter stock as the shares fell after Elon Musk pulled away from his initial offer to buy the social media giant. Why? Record profits stood to be made.The outcome of the deal remains in doubt, even after Mr. Musk's surprising proposal earlier this week  to close it as originally approved after months trying to step away. Some investors have already cashed in.But the opportunity for those willing to bet Twitter might get the full price after all was massive, according to Morgan Ricks, a Vanderbilt Law School professor who specializes in financial regulation:-- Should the Twitter-Musk saga end with a buyout at the proposed price, $54.20, according to Mr. Ricks, it'll mark the second-biggest arbitrage opportunity for a cash buyout of at least $1 billion since at least 1996.\"Prior to Tuesday, the market had been pricing in a roughly 50/50 chance of the deal going through,\" Mr. Ricks said.At one point, the difference between Twitter's stock price and Mr. Musk's original offer was 66%, below the 76% record set by Blackstone Group's 2019 purchase of Tallgrass Energy.The cost of that deal, however, was roughly $3.5 billion, far from the potential $44 billion bill for Twitter.Investors like Carl Icahn, Daniel Loeb's Third Point LLC, and D.E. Shaw Group have already profited from wagers on Twitter shares], which give the right to purchase shares at a specific price by a certain date. Some investors took a third route: convertible-bond arbitrage.Doug Fincher, a portfolio manager at $3.8 billion hedge fund group Ionic Capital Management, said his fund bought Twitter's low-yielding convertible bonds, which could be changed into stock if Musk's deal went through.-- Ionic's trade bet that the price of a bond expiring in 2026 would increase from the the mid-$80s, where it sat in April after cracks emerged in the likelihood of closure, to near $100 should the deal complete. 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