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Well well, just before close I did a dummy sell and was offered 143p for 10000 shares (I didn't accept). So we've finally achieved the 'indicative value' of Nov 1st. It looks like someone has embraced the arbitrage and is hoovering up.

Just to clarify, I mean the reduced payment to Acacia is good for us. More generally the exchange rate is not so for us as our future RTW shares will be worth less in pence. (Apologies if I'm stating the obvious.)

Hah - because of movement in the $£ exchange rate Acacia have only been paid 137p per share by RTW - and as future RTW shareholders that's good for us!

Sorry, it was specific for HL account holders. I also have shares with Fidelity, but had no communication from them.

I've just had an email from Hargreaves Lansdown with instructions on how to vote online. There's a deadline of 7pm on Wednesday 24 January 2024.

It's not totally irrelevant. If the Arix NAV increases then that will increase the NAV of the merged company, which will benefit us as future shareholders of that company.

More action than I was expecting on a US holiday - they'll have a bit of catching up to do tomorrow!

Numerco 10200/10500

Numerco 10000/10300

Thanks YCA_700p_2023. I think this is also notable:

"Uranium reserves remaining in the ground as a result of deviation from production schedules will be available for production as a source of revenue in the future, creating long-term value for our shareholders."

Given the way prices are going, perhaps theyr'e not in too much of a hurry to fix problems!

Hard to believe but Numerco is now saying 9800/10200 !

https://numerco.com/NSet

Numerco 9550/9700

Numerco 9275/9400

Thanks for the responses. Agricore, that article is a very good summary.

And now rimau1 on advfn has spotted this:

https://www.investorschronicle.co.uk/ideas/2024/01/08/an-arbitrage-opportunity-via-the-arix-rtw-deal/

Https://www.reuters.com/markets/deals/merck-buy-harpoon-therapeutics-680-million-2024-01-08/

I'm surpised Arix haven't RNS'd this (yet?)

HARP SP doubled - anyone happen to know how many Arix holds?

Tiny tick up at numerco: 9125/9300

RTW(Bid) $1.32 x 1.4633 x 78.9p/$ = 152.4p ARIX

RTW NAV looking strong, a couple of detailed posts on the Arix board.

FYI A quick scan of RTW's listed portfolio top 6: change from 1 month ago according to Google Finance:

RCKT +21.99%

IMCR +32.47%

CRGX +4.00%

MIST +12.05%

OBIO +22.11%

APGE +29.34%

Https://www.londonstockexchange.com/news-article/RTW/monthly-valuation-update-november-factsheet/16251440

RTW NAV $1.65/share, up 11.9% vs last month

RTW SP(Bid) $1.24

RTW Discount -25% (12 month average -23.4% according to HL)

Deal calculation:

$1.24 x 1.4633 x 79p/$ = 143p

I think the big RTW NAV increase is plausible, as the whole sector seems to be improving at last. E.g. their portfolio company Immunocore is up 32%:

https://www.google.com/finance/quote/IMCR:NASDAQ?window=1M

If this continues, then despite being unhappy about the principle of the deal, the rational investor in me might be voting in favour.