Welcome to the Populist issue of M&A Daily
Transition
So far, we have another Goldman (GS) guy at Treasury, Wilbur Ross at Commerce, top tier regulatory and antitrust experts heading to the DoJ, FTC, and FCC, and corporate tax cuts in the works. My kind of populism. I am delighted, despite having been wrong, wronger, wrongest about... every syllable I've uttered regarding politics over the course of the past year. Oops.
The new political environment could be a bonanza for investors generally and arbitrageurs in particular. One of many opportunities with improved prospects is the Apollo (APO) acquisition of Apollo Ed (APOL) - its $0.49 arb spread offers a 52% IRR if the deal closes by year end. While Trump will not yet be in office, the outlook for for-profit education will already be improving. As for the elimination of the carried interest tax deduction, that can wait for the… Read More …
