The Special Situations Desk follows corporate events such as mergers and takeovers, buy-outs, restructurings, and spin-offs as well as share class trades (ordinary shares vs. preference shares, dual-listed companies), holding companies and stub trades. While our main focus is Europe and US, we opportunistically cover Asia/Australia.

We provide our clients with trade ideas and insights into ongoing and prospective situations. Our analysis is twofold: on the one hand, we look at the valuations of the companies involved, on the other hand, we offer in-depth knowledge of the legal frameworks across geographies that govern the situations and have an impact on the trade, e.g. corporate acts, takeover codes and shareholder rights.

In each Risk Arbitrage situation, our analysts conduct in-depth coverage as well as potential industry sector implications. 

We offer complete anonymity and have a large network of active players that give us good access to liquidity. As we do not take proprietary positions we do not have a conflict of interest on trading and ideas.  

We also organise corporate access and regular conferences with industry professionals to enhance our market knowledge.

We monitor Index rebalancing programs. We like to develop ideas around an announced event and suggest potential candidates for addition or removal.