money for jam, page-19

"If you buy 2000 shares when market opens Tues 12/6,
is the arbitrage opportunity still available?
(ie send off acceptance)"


Its getting tight now.
The Cemex offer (assuming it is not extended) closes on June 22.
If you are planning to buy soon, allow 3 days for settlement, at which point Computershare will be alerted and they will post an Acceptance Form to you.
You dont want to leave it much past this week, I reckon.
As for the market price, it will be driven by the AUD/USD exchange rate, currently 0.84, and the offer price is $US15.85, in Australian Dollars 18.85/.843 = $18.8
Barring any sudden drop in the exchange rate, the arbitrage profit will persist.


The ultimate Rinker play for those who already own them in an individual account and not their SMSF, is to make a deductible contribution to super (thus getting a deduction in 2007 to offset the CGT bill), and buy Rinker shares for their SMSF to collect the arbitrage profit which will be taxed at 15%.