On Occtober 30, 2018, Chesapeake Energy Corporation (NYSE:CHK) and WildHorse Resource Development Corporation (NYSE:WRD) announced that Chesapeake has entered into a definitive agreement to acquire WildHorse. At the election of each WildHorse common shareholder, the consideration will consist of 5.989 shares of Chesapeake common stock, in exchange for each share of WildHorse common stock. After the announcement, shares prices of Chesapeake and WildHorse were $3.62 and $22.16, respectively. If you enter into a merger arbitrage strategy after the announcement of the deal and your positions are based on 100 shares of WildHorse, what is your profit pontential? $22.16 $67.50 -$47.62 $17.56