[Verse 1] When companies merge or fall apart Smart money sniffs the arbitrage art Buy the target, short the buyer's stock Spread betting while the markets talk Distressed debt trading at fifty cents Vulture funds circle, making their bets [Chorus] Event-driven alpha generation M-A-R-K merger arbitration Spin-offs, bankruptcies, restructure plays Special situations pave the ways Risk and reward in corporate fate Time decay becomes your freight [Verse 2] Announcement drops, the spread appears Target jumps but buyer's shares disappear Regulatory risk could kill the deal Calculate the odds, know what's real Activist investors shake the tree Proxy battles set the equity free [Chorus] Event-driven alpha generation M-A-R-K merger arbitration Spin-offs, bankruptcies, restructure plays Special situations pave the ways Risk and reward in corporate fate Time decay becomes your freight [Bridge] Catalyst timing separates the pros Event risk versus market's ebb and flows Information edge and legal research Due diligence rewards those who search Credit analysis for distressed debt Seniority matters when companies fret [Verse 3] Spin-off value trading at discount Parent company's focus paramount Chapter eleven reorganization Creditor committees, negotiation Sum-of-parts exceeds the whole today Unlock that value, hedge funds say [Chorus] Event-driven alpha generation M-A-R-K merger arbitration Spin-offs, bankruptcies, restructure plays Special situations pave the ways Risk and reward in corporate fate Time decay becomes your freight [Outro] Corporate actions fuel the strategy Event-driven hedge fund alchemy
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