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Dow Resumes March Toward 20000
Dow Resumes March Toward 20000
Wells Fargo to Roll Out New Pay Plan to Replace Sales Goals
Wells Fargo to Roll Out New Pay Plan to Replace Sales Goals
China Doubles Down on Defense of Yuan
China Doubles Down on Defense of Yuan
Brokers Once Disdained Advisers. Now They Copy Them
Brokers Once Disdained Advisers. Now They Copy Them
Markets Dangerously Price in Trump-Era Perfection
Streetwise
Markets Dangerously Price in Trump-Era Perfection
European Equities: The Importance of Seeing Earnings
European Equities: The Importance of Seeing Earnings

AT&T-Time; Warner: A Deal Hedge Funds Won’t Touch

New mantra for those who trade on difficult deals: ‘Don’t fight the president’

By

The once-mighty merger arbitrager has been humbled.

Time Warner Inc. shares closed Tuesday some $20 a share below the price spelled out Saturday in AT&T Inc.’s $85 billion takeover bid.

The big discount in Time Warner’s stock price means that an investor who buys the stock today and holds it would make around 17% annualized if the...

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