Question: Pinder just announced that it will acquire Value for $12 per share. Values shares traded at $8 prior to the announcement and $11 after the

Pinder just announced that it will acquire Value for $12 per share. Value’s shares traded at $8 prior to the announcement and $11 after the announcement. Pinder’s shares traded at $53 prior to the announcement and $52 after the announcement. Assume that you are a merger arbitrageur and want to investment in this opportunity with $5000. You cannot invest in fractional shares.

What are your profits from the acquisition if it is successful? (If necessary, round only the final answer to the nearest two decimal places)

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