News

When can we see approval from the Delaware court on Altaba’s final liquidation plan? Featured in Andrew Bary’s Barron’s piece, co-portfolio manager Roy Behren says he expects an April time frame with distributions in May.

With all eyes on SPACs, co-portfolio manager Roy Behren tells The Wall Street Journal that “it raises the issue as to whether or not there is an element of speculative mania.”

Speaking with The Wall Street Journal, co-portfolio manager Roy Behren claims that “there’s a frothy feel to the SPAC universe” as the space continues to attract investors. His insight is featured in Amrith Ramkumar’s piece.

Why is a smaller promote better for public shareholders in a SPAC? Co-portfolio manager Roy Behren explains in Jessica DiNapoli and Joshua Franklin’s Reuters piece, “Analysis-Investors push back on blank-check company insiders’ payout bonanza.”

Joining host Oliver Renick for a live “Market On Close” segment, co-portfolio manager Roy Behren provides an update on the state of the M&A market and examples of deals he finds to be of particular interest at the moment.

“We love the risk/reward of it,” says co-portfolio manager Roy Behren surrounding the rising interest in SPACs seen this year. His commentary is featured in Antoine Gara and Eliza Haverstock’s Forbes piece, “How SPACs Became Wall Street’s Money Tree.”

Could Google be on the road to completing its acquisition of Fitbit? Read co-portfolio manager Roy Behren’s insight on why he’s now more optimistic the deal will close in Max Cherney’s Barron’s piece, “Google Is Getting Closer to Buying Fitbit. Here’s What It Means for Competitors.”

According to co-portfolio manager Roy Behren, the market is now implying that there is roughly an 80% chance the Google – Fitbit deal will close. He shares his updated insight on the increase from June with Barron’s reporter Max Cherney.

Co-portfolio manager Roy Behren explains why perceived regulatory risk may be negatively weighing on Fitbit’s share price in Max Cherney’s Barron’s piece, “With Google Deal in Doubt, Fitbit’s Stock Looks Cheap.”

There are still about $200 billion of pending U.S. mergers set to close, says co-portfolio manager Roy Behren. Read more of his insight in Andrew Bary’s Barron’s piece, “Merger Arbs Are Confident Despite Whispers on Tiffany Deal.”

Although the mall sector has felt the negative effects of the pandemic, co-portfolio manager Roy Behren believes the Simon Property Group – Taubman Centers merger agreement is extremely tight, making the deal less likely to fall apart. Watch his segment on CNBC Fast Money where he discusses further.

Managing member and co-portfolio manager Roy Behren shares his current stance on Simon Property Group’s acquisition of Taubman Centers with Wall Street Journal’s Julie Steinberg and Ben Dummett in the piece, “Short the Target: The Specialist Funds Betting M&A Deals Won’t Close.”

How has MERFX held up in the recent market drop? See what co-portfolio manager Roy Behren had to say about the Fund’s performance and what it does with its cash in the event of slower deal activity in Retired Investor’s Seeking Alpha piece, “Westchester Capital’s Merger Fund: The Merger Fund Allows Investors To Add A Merger Arbitrage Strategy To Their Portfolio.”

Portfolio Managers Roy Behren and Mike Shannon offer their insights on recent developments in the merger arbitrage environment.  

In light of recent volatility, we are providing the attached supplement to our quarterly letters regarding our outlook and current opportunity set.  

Rising interest rates have historically, and by definition, reduced the price of fixed income securities, while absolute return strategies such as merger arbitrage typically provide increased rates of return corresponding with the rise in rates. Read the full commentary here.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q4 performance and offer their insights on the global markets in our Q4 Quarterly Review for shareholders.  

Guest author, Westchester Capital’s Managing Director of Strategic Accounts and Investor Relations, Jody Harris Stern, discusses the drivers behind our funds’ Q3 performance and offers her insights on the global markets in our Q3 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q2 performance and offer their insights on the global markets in our Q2 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q1 performance and offer their insights on the global markets in our Q1 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q4 performance and offer their insights on the global markets in our Q4 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q3 performance and offer their insights on the global markets in our Q3 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q2 performance and offer their insights on the global markets in our Q2 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q1 performance and offer their insights on the global markets in our Q1 WCF-Quarterly-Review-Q1-2019-f Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q4 performance and offer their insights on the global markets in our Q4 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q3 performance and offer their insights on the global markets in our Q3 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q2 performance and offer their insights on the global markets in our Q2 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q1 performance and offer their insights on the global markets in our Q1 Quarterly Review for shareholders.  

Portfolio Managers Roy Behren and Mike Shannon discuss the drivers behind our funds’ Q4 performance and offer their insights on the global markets in our Q4 Quarterly Review for shareholders.