Ann: Andromeda and Minotaur to Combine, page-23

Congratulations to all MEP holders.

I've held both ADN and MEP on and off over the past couple of years. My buy order in September @ 9.5c never got hit and I was kicking myself I didn't buy back in @10c last month.

This morning I managed to play the arbitrage opportunity in the pre-open auction and sold all my ADN @18c and bought MEP @17c. I don't normally trade like that but it seemed like a good opportunity to make some paper profit through the arbitrage, especially given the level of short interest in ADN. It was hairy though because Commsec were holding up my buy orders on MEP, which I amended a couple of times as the match price rose, for authorisation because the bid was so far from the last close. I assume some ADN shorters may be covering today.