As I said elsewhere, betting on whether mergers will go through has a long, long history. Ivan Boesky sought his edge with insider information, which of course

As I said elsewhere, betting on whether mergers will go through has a long, long history. Ivan Boesky sought his edge with insider information, which of course is illegal. If Lina Khan gives you a legal edge by making spurious objections, the smart trader takes it. Eventually everyone figures out that an FTC objection doesn't mean much, and the edge goes away.