Reminds me of the AT&T breakup with the Baby Bells. SIAF and it's Baby Bells.
Financial arbitrage
Because of discrepancies between the pricing of the "old" AT&T shares and the new "when-issued" shares, investors were able to make risk-free profits, most spectacularly Edward O. Thorp, who made $2.5 million in what was at the time the NYSE's largest (nominal) block trade.
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