Purchasing calls prior to a hostile takeover

Wouldn't it be a good idea for Acquiring Corp. to purchase calls of Distressed Corp. prior to a takeover - hostile or otherwise? This would help Acquiring Corp. to purchase Distressed Corp. at a
"discount".
Also, to leverage this transaction, Acquiring Corp. could sell puts of Distressed, since the price will invariably go up. Acquiring Corp. uses thse funds to buy the calls. Moreover, even if prices fell below the strike price of this put options, Acquiring Corp. would simply purchase the stocks of a company that they want to acquire anyways. This is what they wanted anyways.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.