Current Price –$35.5
Offer Price - $38.5
Upside – 8%
Expiration Date - Q1 2018 (or earlier)
8% in a year might not sound overly attractive at first, but I consider this arbitrage opportunity to be close to risk free. The partnership will gradually distribute its only asset (which is ATH shares – large cap health insurer) to unitholders and then liquidate. AAA trades in Amsterdam and it is possible to purchase units using Interactive Brokers.