I donot think spinoffs follow the same arbitrage mechanism as it is a different entity. Spinoffs trade on their own merits and P/E which depending on the exchange could be much higher than the US P/E. About 1/2 a year ago Treit (I believe) did an analysis of how a spinoff would benefit current SIAF shareholders. Just do a search under "spinoff".
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.