The Return of the Appraisal Arbitrage Trade
MARCUS LECKY—Top Wall Street hedge funds are contesting Silver Lake’s buyout of Endeavor Group Holdings Inc. (Endeavor) with one of the largest appraisal demands in the history of Delaware, bringing back a trade strategy that lay dormant for years. Appraisal arbitrage consists of buying a company’s shares after a deal is announced and then suing […]

