We believe that Ardagh offers an attractive risk/reward setup with upside potential of up to 60%. The potential valuation re-rate could originate from (1) an improvement of the company's capital structure that reduces the risk related toWe focus on special situations and deep value plays. We are open to L/S positioning that allows us to capture inefficiencies both on the upside and downside. For the long positioning, we like to spot asymmetric opportunities where the downside is relatively limited and the u ...