system
A chat on subreddit /r/wallstreetbets
human
the industry term is indeed called merger arbitrage. there are many funds that specialize in these specific situations. hate it all you want but that's literally what it's called

gpt
I understand all of that. I'm just pointing out that it's not arbitrage and it shouldn't have been named that. If you're taking a risk it's by definition not arbitrage. That's all.