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Scott Siegel, manager of an M&A hedge fund, watched the tape go across his Bloomberg screen at 4 : 0 0 p . m .
Scott Siegel, manager of an M&A hedge fund, watched the tape go across his Bloomberg screen at : pm on June Celera Genomics, a Rockville company known for mapping the human genome, announced it would acquire AXYS Pharmaceuticals Inc., an integrated small molecule drug discovery and development company. The deal was structured as a stock swap in which AXYS shareholders would receive Celera share for each AXYS share. Celera share was at $ and AXYS at $ after the announcement. What will be Siegels profit using share of AXYS as an M&A arbitrageur if the merger happens and price of the respective share remained same till Siegel could execute the trade Give your answer without the $ sign
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