Arbitrage

August 10 - Some takeovers are on the doket today. True North (TN.UN) is being taken over by Northern Property REIT (NPR.UN) and although it is an all stock deal and True North is starting top creep up pre-market there still looks to be some quick arbitrage in this one. A bit more of a risky arbitrage play is Tethys (TPL) with a rumoured offer valued at 0.21 per share from a close at 0.145. The bid is 0.145 with an ask of 0.17, if we can get a fill in the 0.145 area we would play this one but we wouldn't tie up too much money much higher than that because this could swing wildly either way very quickly.

Small but quick 1.6% arbitrage gain in True North from the open. As usual thought the acquiring stock of Northern Property slid to make the premium much less attractive.