Indus International (IINT) - Arbitrage Situation

Indus International (IINT) has received a prived equity buyout offer of $3.85 per share. The article states that the deal was expected to close in 90 days, that was on October 23. IINT is currently trading between $3.74 & $3.76. If you can get in at $3.74 you would be looking at a 2.9% return (19% annualized) if the deal went through. If the deal falls apart though you're pretty much screwed. The stock was trading at $2.52 prior to the announcement so there is tremendous downside.

I personally don't have the type of funds for such a small arbitrage to be profitable so I will sit this one out. Do your own research before even thinking about this one. Thanks to the vinvesting forum user who pointed it out.