where are the arbs?, page-4

Thanks for your replies gents. From my understanding Baytex can only pull out if there is a "Material Adverse Change or a "Prescribed Occurrence". These are standard takeover provisions, and nothing to worry about from what I can see.

However I am no legal expert, and welcome opposing views.

Also, from my understanding, Baytex has lined up finance already, so we don't have anything to worry about there.

I really don't think any funds would be stupid enough to block the bid, and then see their stakes plummet by 25-30%. Talk about suicide!

I welcome anyone to tell me otherwise, but from where I stand, this is as close to a 'free lunch' as I can think of in the markets right now.