wescobrk Posted April 22, 2020 Share Posted April 22, 2020 Any risk arbs have a good background in "ordinary course covenant?" If so, do you think the L Brands deal will go through? The shares dropped more than 20% today. PE firm buying it is arguing L Brands violated that clause when it closed stores due to Covid. L Brands is arguing its behavior is consistent with other businesses due to the pandemic. Link to comment Share on other sites More sharing options...
Gregmal Posted April 22, 2020 Share Posted April 22, 2020 No insight on the merger but a scumbag move by a scumbag firm. Do we give everyone a mulligan on stocks they bought in January/February? They made a move they now regret and are trying to weasel out. Hopefully a judge sees this and makes them pay. Link to comment Share on other sites More sharing options...
wescobrk Posted April 22, 2020 Author Share Posted April 22, 2020 I bought a small amount near the intraday low in case the judge does enforce it. Agreed about it being a scumbag move. Link to comment Share on other sites More sharing options...
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