MERGER ARBITRAGE / EVENT-DRIVEN GROUP
Dominick & Dominick's Merger Arbitrage/Event-Driven Group ("the Group") was established to provide a valuable combination of intensive real-time merger-specific research and trade execution to hedge funds and other institutional investors in the event-driven space. With significant experience among its members, the Group has firsthand knowledge of the specialized information-gathering and deal analysis needs of arbitrage and other event-driven accounts. The Group conducts comprehensive real-time merger information-gathering and analysis in a manner identical to that performed at firms that specialize in these types of investments. In fact, many of the Group's accounts think of it as important compliment to their own research teams. Group accounts are able to take full advantage of the Group's specialized trading experience, the product of many years of buyside event-driven trading. Accounts also have the added security of trading through Dominick & Dominick LLC, a historic name on Wall Street, founded in 1870 and one of the first members of the New York Stock Exchange.
Deal Analysis Advantages
- Real-time, continuous merger information gathering and analysis from the inception of a deal or other event until its resolution.
- Comprehensive deal monitoring and updating based entirely on the buyside model, including speaking with officials of the companies involved, participating in company conference calls and online events, and attending company presentations whenever possible.
- Analysis of regulatory filings, including merger agreements, tender offer documents, and proxy statements, as soon as they become available.
- Developing a thorough understanding from a business perspective of regulatory and legal issues, including antitrust analysis, as well as state and federal regulatory commissions with authority over the industries involved.
- Providing a comprehensive and detailed email Bulletin each morning containing a detailed summary of new situations as well as the most recent events in developing situations, with full printouts of the most important developments as well as hyperlinks to other relevant source material.
- Continuous email and direct phone call updates throughout the day as new events unfold.
- Occasional publication of email Commentaries identifying and analyzing under-the-radar aspects of a deal that are not the focus of the mainstream business media but have the potential to significantly affect a situation's outcome.
- The Group does not trade proprietary capital, thereby avoiding conflicts of interest with their accounts.
- The Group has many years of buyside trading experience in the category, providing it with a comprehensive knowledge of the trading needs of merger arbitrage/event-driven portfolio managers.
- Each spread is constantly monitored, and if one suddenly changes while an order is being executed, Group traders immediately inform and seek instructions from the account rather than simply complete the order.
- Orders are not "shopped" unless the Group is asked to find a "natural" buyer or seller, in order to avoid affecting the spread as a result of broad disclosure.
- Account names are not associated with a specific order; as a boutique broker/dealer, anonymity is easier to maintain.