Thursday, March 12, 2009
Emageon/AMICAS Tender Offer
My recent risk arbitrage in the Tender Offer of AMICAS for Emageon at $1.82/share seems to be rolling smoothly. The tender commenced as planned on March 5th, my shares have already been tendered, and the spread on the transaction has closed to $0.01 (the stock current trades at $1.81), which suggests the Streets overall confidence in the transaction. I have heard some discussion of potential deal problems related to the Escrow paymenet received from HSS, especially if HSS falls into bankruptcy. I need to look into these problems a little more closely.
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