Mini-Arbitrage Opportunity in Credit Acceptance Corp (CACC)

Credit Acceptance Corp (CACC) has made a tender offer to purchase up to 4.0 million shares of its outstanding common stock at a price of $50.00 per share. The stock is currently trading at $49.

"Under the tender offer, shareholders of Credit Acceptance common stock will be invited to choose how many shares they are willing to sell to us at $50.00 per share. If more than the maximum number of shares sought is tendered, tendering shareholders owning fewer than 100 shares, or "odd lot" holders, will have their shares purchased without proration and all other tendered shares will be purchased on a pro rata basis, subject to the conditional tender provisions described in the Offer to Purchase."

Make a quick $99 minus trading costs!