Source:
https://scmp.com/business/banking-finance/article/1568296/options-traders-betting-time-warner-takeover-facing-losses
Business/ Banking & Finance

Options traders betting on Time Warner takeover facing losses

Fox's cancellation of bid for Time Warner leaves options dealers with soured bets

Murdoch pulled the US$80 billion offer on Time Warner after the close of trading on Tuesday. Photo: Reuters

Many options traders who had taken bets on a successful buyout of Time Warner by Rupert Murdoch's Twenty-First Century Fox are facing a grim lesson in the risks of betting on deals.

Murdoch pulled the US$80 billion offer after the close of trading on Tuesday, saying Time Warner management had refused to engage in discussions.