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CLASS REVIEW: Merger Arbitrage

It was a long time coming, but merger arbitrageurs finally had a good year.

It was a long time coming, but merger arbitrageurs finally had a good year. In 2006 the average merger arbitrage fund returned 15.87 percent -- more than twice the strategy's average 2005 return -- according to information from Chicago-based data provider Hedge Fund Research. Global M&A deal volume hit a

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