Therefore, the profits of the speculators or the form of the transformation of the surplus value must be assigned by the arbitragers. The method of the arbitrager to assign the surplus value is corresponding to the trading methods of the future market.

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HSY and Nestle SA, have been mentioned so often that this arbitrager called the pairing 'like reports of unsafe salad bars on the nightly news - they pop up every three months.

和雀巢公司，它們被提及的次數(shù)太多了免费非常黄的网站91AⅤ，這位套利者說這一對就象是晚間新聞里有關(guān)不安全自助沙拉臺的報導(dǎo)一樣www.欧美黄色网站，每三個月都會蹦出來一次。

Their participation enables otherwise impossible take atteempts to become successful; The involvement of the arbitrager explains very well the widely observed stock market movement during the process of the takeover, including the dramatic rise in share price and in transaction volume. It predicts that in most case, a high transaction volume is associated with a high success rate, as well as with a high post-announcement trading price. Also, the higher the bidding price, the higher the success rate and the bigger the jump in share price; The existence of the arbitrager implies that in the tender offer, the shareholder can always expect to get a fixed portion of the total value improvement by the raider. This surprisingly simple division rule of the takeover surplus may have great implications for related empirical research and indicates that the market for corporate control may be efficient.

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