For instance, a firm could borrow on terms that required immediate repayment if the firm is acquired or it could sell off undervalued assets to make itself a less desirable target. Such tactics are referred to as $.$

Erin works for an investment bank in the corporate finance division. Along with the typical functions in her job role$$such as finding a potential target company for a client which would add synergistic value to the client, finding a potential acquirer for a client, developing defensive tactics, establishing a fair value and financing operations$$Erin also works with her team in conducting arbitrage operations.

Based on your understanding of arbitrage operations complete the following sentence:

Erin is speculating in the stocks of companies that are likely takeover targets. She is involved in