Bill Gross Is Desperately Horny For The Death Of Antitrust

The upcoming orgy of mergers is exactly what Billy G needed right now.
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Photo: Bob Riha Jr/Getty Images

Photo: Bob Riha Jr/Getty Images

When a federal judge decided that AT&T could merge with Time Warner, it drew back the curtain on a new reality in which everyone can just go ahead and merge with everyone. Antitrust violations are something your dad worried about, son. Now go forth and buy a media company!

And the sweaty gross bacchanalia M&A orgy that's about to break out is great news for a lot of deals that looked hinky before Tuesday. Aetna and CVS know what we're talking about, cuz they're deal is pretty big and could raise the tide of a lot of ships. Especially ships that have beaten and broken on the rough tides of a vicious bond market and an usually nasty divorce.

That's right! Barron's talked to Bill Gross...

One investor who had been betting on that deal's success: Janus Henderson's Bill Gross.
The deal "looks lucrative," Gross tells Barron's. The shares of the two companies present a potential arbitrage of up to 10%, he says; he expects the deal to go through in six months.
Aetna was the biggest reported holding in Gross's Janus Henderson Global Unconstrained Bond Fund, as of April 30, according to data on the firm's website.

If you ever foresaw a future in which Bill Gross turned into an M&A guy...we feel awful for you. But you were right!

Merger Arb Is Back in Vogue, and Bill Gross Is On It [Barron's]

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