1.cents per share. What is the arbitrage investment? Should the merger arbitrageur undertake this investment? 2. Evaluate the stock-picking ability of a merger arbitrageur who is able to identify...

1.cents per share. What is the arbitrage investment? Should the merger arbitrageur undertake this investment? 2. Evaluate the stock-picking ability of a merger arbitrageur who is able to identify takeover targets and purchase their stocks during the month immediately prior to the merger announcement. 3. Why are acquirers more likely to terminate mergers during stock market downturns? How does this impact merger arbitrageurs?4.What is the price pressure explanation of negative stock price reactions to acquiring firms at stock merger announcements?