From rules booklet -
ARBITRAGE is the speculation of professional investors on the outcome of corporate MERGERS and TAKEOVERS. In Arbitrage, trading very large profits or losses are made in a very short time. You will start with two million dollars and handle large sums of money.

General Description - Five shares are offered for sale by each of six coporations. You try to get as many of the shares as you can by buying one every time you land in the HOME OFFICES of a coporation. When you get three shares, you own the majorty of the shares in that Corporation and become its President. Now, other players must buy a bond from you every time they land on a space for your corporation. If you are shrewd and manipulate your money and shares wisely, you gain control of several corporations so that you can MERGE them into one big one. Other players will then have to buy bonds from you in all of your Corporations, no matter which one they land in.

You try to gain ontrol by any means, BUYING shares, TRADING with other players, the TAKEOVER of Corporations, and hoping for good news from the WALL STREET REPORT.

The winner of the game is the wealthiest player who owns the most and shares at full value.