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Pfizer-Wyeth: It's a chemical reaction

Wide spreads lure merger arb players into Pfizer-Wyeth bet.

By Josh Friedlander For merger arbitrageurs, deals don't get any better than pharmaceutical giant Pfizer's proposed acquisition of competitor Wyeth. Were the deal to close at the end of this month, hedge funds that entered the trade as late as August could realize gains of nearly 4% in eight weeks—an annualized

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