This prop will pay POP$100 if any regulatory body, either in American or international, blocks the sale of Sun Microsystems to IBM before April 10th, 2009. The news of IBM and Sun merging will be widely reported, and can most easily be checked on the Wall Street Journal or Bloomberg News.
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bump
Probably another prop that will lead to payout confusion...the merger will not happen, but it won't be because of regulatory intervention...good luck.
Shouldn't be any confusion.
Just have to wait until April 10th for the close date to pass. Since the talks are off, there will not be any regulatory body blocking the deal.
Simple enough; short.
no regulatory "body" did anything - this is short ..
no regulatory "body" did anything - this is short ..
from Newport News, VA
Yes, this one seems clear to me, but let's see how the PPX people deal with it.
The merger won't (didn't) happen. It wasn't DIRECTLY blocked by a regulatory body, although regulatory concerns were raised and could have complicated the deal enough to effectively block it without direct action of a regulatory body.
Since their source for payout information was "The news of IBM and Sun merging," (for a payout of 0) the inverse of that (no such report) would indicate a payout of POP$100.
It seems clear to me that those who picked "long" will benefit.
from Loganville, Georgia
You can not have it both ways. Pick one side of the fence. You just counterdicted yourself, at least to the laymen.
from Newport News, VA
This is simple. The merger was not blocked by any regulatory body prior to 10-Apr-2009. Shorts win.
this is a no brainer, short wins