where are the arbs?, page-2

stealth,

It makes no sense. The TSX is currently trading the stock at the equivalent of about A$3.86. Either the market expects Baytex to pull out (but it has been seeking tenders for the loan notes); or it thinks that shareholders will vote against the scheme; or it thinks that the A$ will crash against the C$.

Good luck with your trades.

The market has even forgotten that the independent valuers put a price range on AUT of A$3.76 - A$4.29. In view of the upbeat Q1 2014 report by Marathon, the stock might not even need the bid to support the price.