takeover value, page-3

arbitrage opportunity For sure this is an obvious arbitrage opportunity.
SEL is almost priced at MFS's share price.

Can't see why anyone would not agree to the offer. Sure, everyone might not want MFS shares but with the 70 cent cash bonus plus 15 cent special dividend can't go wrong. The risk is massive dumping of MFS shares once the deal is done.

This deal still values SEL at all time high and at the moment SEL seems to be priced as if this takeover won't happen.