With particular attention to the section titled "4. Back in Focus," Rick has done his part in explaining the FMCN-SINA transaction however he was not very specific on what/when to buy and what/when to sell.
Going on about how FMCN jumped on "uninspiring results" - saying that it was likely the market realizing the value of the SINA transaction - all the while insinuating that FMCN stock is a sell now because its earnings will go to zilch.
Mr. Munarriz, why sell FMCN if you believe the transaction will go through, leaving a 40% arbitrage gain on the table?
Bravo my friend!
Violent Capitalist's take: http://www.violentcapitalist.com/2009/04/violent-trade-merger-arb-trade.html
Fool's original article: http://www.fool.com/investing/general/2009/03/27/this-weeks-5-dumbest-stock-moves.aspx