Merger arbitrage investors have been struggling this year. Play the gap Merger arbitrage can be a tricky strategy for regular investors to incorporate. Investors can buy into the following funds for exposure to merger arbitrage: The Arbitrage Fund (ARBNX) The Merger Fund (MERIX) The NexPoint Merger Arbitrage fund (HMEAX) The First Trust Merger Arbitrage ETF (MARB) The IQ Merger Arbitrage ETF (MNA) To be sure, many of these funds charge a hefty fee. Kroger and Albertsons , the two largest biggest grocers by revenue, just notched a regulatory win after a judge dismissed a consumer lawsuit challenging the $25 billion merger. Tower Semiconductor is trading for around $34 a share such that the arbitrage spread stands at more than 50%.

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Persons: Activision Blizzard, Andrew Beer, Dealmaking, John Orrico, Salvatore Bruno, VMware's, Black Knight, it's Organizations: Federal Trade Commission, Activision, FTC, Microsoft, Hedge Fund Research, Beta Investments, Global, Horizon Therapeutics, Activision Blizzard, Broadcom, VMware, Intercontinental Exchange, Black, CNBC, Kroger, Albertsons, Intel, Semiconductor Locations: Island, Water Island, British, Israel