Amarin Corp Plc (AMRN)

[sts66]

If the market doesn't like the deal that usually happens - happened to one of my stocks yesterday when iron ore pellet producer CLF announced it was buying the near BK steelmaker AKS - CLF plunged -15% at the open but recovered a bit by EOD, while AKS went up as traders played the arbitrage game based on the BO premium. The combined company will be totally vertically integrated and the market hates the deal - AKS uses blast furnaces and electric arc furnaces to make steel from the ore pellets, then they produce sheet steel and tubing, most of the sheet steel is sold to US automakers, where the use of steel has been shrinking in favor of aluminum, particularly in EVs, which are expected to be sold in much higher volumes in the next few years as some 30 new EV models come out of Detroit. I dumped all the CLF I had in my cash account for a small profit because they took on $3B in debt from AKS, held the fewer shares I have in my IRA, they were already underwater, but when I get back to even on those they're going too - no interest in owning a steel company.