Under Armour: Value of the Vote (II)

I just wanted to note that WSJ’s “Heard on the Street”columnist Mariam Gottfried has picked up on this opportunity as well. Link.

She lists a new catalyst that I missed:

Struggling arb traders are likely avoiding this trade for now because it doesn’t have a payoff day, so it won’t help their returns this calendar year. But there is a good chance they will reconsider it starting next year.

Under Armour’s ticker change will take effect Dec. 7. Investors who bet on the Under Armour spread narrowing could be off to the races soon after.