bullish
Alumina (AWC AU) Agrees To Alcoa's Offer
553 Views26 Feb 2024 09:33
I don't see any reg issues here. Trading at a gross/annualised spread of 5.7%/11.6%, assuming six months to complete. Look to short Alcoa late in the US day, and buy Alumina early in the AU day.
Boomeranged on Tue, 5 Mar 2024 16:49
AWC is trading wide. You have Allan Gray on side, and a 50% vote at AA (for the share issuance). And terms allow CITIC to roll up its shares into a larger entity. To note: in the NBIO, all INEDs, the MD and the CEO of AWC recommend AA's Offer. Missing is CITIC's Chen Zeng, an AWC NED. The flip side is: how often, if ever, do CITIC provide a public backing/undertaking to any deal (I don't know).
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