Merger Arbitrage Mondays – January 30, 2017

Merger Activity increased last week with eight new deals announced and two deals closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.

We have received requests from several readers about new features and tweaks that they would like to see to the site or the Merger Arbitrage Tool and we try as best as possible to accommodate these requests. When we launched this new site, one of the requests we incorporated was with the ability to filter deals by the type of deal (all cash, all stock, etc.). Today we are launching a new page called Merger Arbitrage Academic Research that lists several academic and industry studies related to this investment strategy. We are also tweaking the Merger Arbitrage Tool to provide links to the original releases when a deal is announced so that you can review those articles or filings directly from the tool instead of having to hunt down the specific Merger Arbitrage Mondays post that referenced the deal. To access this link simply click the + symbol to the left of the deal you are interested in. We have other exciting features in the works that we hope to roll out in the coming weeks.

Deal Statistics:

Total Number of Deals Closed in 2017 12
Total Number of Pending Deals
Cash Deals 53
Stock Deals 22
Stock & Cash Deals 11
Special Conditions 8
Total Number of Pending Deals 94
Total Deal Size $676.68 billion

New Deals:

  1. The acquisition of BNC Bancorp (BNCN) by Pinnacle Financial Partners (PNFP) in an all stock deal. Under the terms of the merger agreement, BNC shareholders will receive 0.5235 shares of Pinnacle common stock for every BNC share.
  2. The acquisition of Multi Packaging Solutions International Limited (MPSX) by WestRock Company (WRK) for $2.28 billion or $18.00 per share in cash.
  3. The acquisition of GenVec (GNVC) by Intrexon Corporation (XON) in an all stock deal. Under the terms of the agreement, GenVec stockholders will receive 0.297 of a share of Intrexon Common Stock in exchange for each share of GenVec common stock. GenVec stockholders will also receive a right to contingent consideration equal to 50% of any milestone or royalty payments received within 36 months after the closing of the transaction under GenVec’s Research Collaboration and License Agreement with Novartis.
  4. The acquisition of Arctic Cat (ACAT) by Textron (TXT) for $311.71 million or $18.50 per share in cash.
  5. The acquisition of WGL Holdings (WGL) by AltaGas for $6.4 billion or $88.25 per share in cash.
  6. The acquisition of Midcoast Energy Partners (MEP) by Enbridge (ENB) for $170.2 million or $8.00 per share in cash.
  7. The acquisition of Centrue Financial Corporation (CFCB) by Midland States Bancorp (MSBI) for $175.1 million. Under the terms of the definitive agreement, holders of Centrue common stock will have the right to receive a fixed exchange ratio of 0.7604 shares of Midland common stock, a fixed consideration of $26.75 in cash, or a combination of cash and stock for each share of Centrue common stock they own, paid 65% in Midland common stock and 35% in cash, and subject to potential adjustment based on Centrue’s adjusted stockholders’ equity at closing.
  8. The acquisition of Stonegate Mortgage Corporation (SGM) by Home Point Financial Corporation for $211 million or $8.00 per share in cash.

Deal Updates:

  1. On January 23, 2017, A U.S. judge blocked health insurer Aetna’s (AET) proposed $34 billion acquisition of smaller peer Humana (HUM), raising the stakes for rival Anthem (ANTM) as it battles to close a $54 billion deal to buy Cigna (CI).
  2. On January 24, 2017, Ariad Pharmaceuticals (ARIA) and Takeda Pharmaceuticals filed a Notification and Report Form with the Antitrust Division and the FTC. As a result, the required waiting period is due to expire on February 8, 2017, unless earlier terminated by the FTC and the Antitrust Division, Ariad and Takeda elect to withdraw and resubmit their Notification and Report Forms, or the FTC or the Antitrust Division issues a request for additional information and documentary material prior to that time.
  3. On January 25, 2017, shareholders of Eldorado Resorts (ERI) and Isle of Capri Casinos (ISLE) voted to approve Eldorado’s acquisition of Creve Coeur-based Isle of Capri.
  4. On January 26, 2017, Sherwin-Williams (SHW) said it now expects to sell part of its business to complete its acquisition of rival Valspar (VAL) but does not expect this divesture to exceed $650 million of revenue. If divestures exceed $650 million, then the transaction price would be adjusted to $105 in cash per Valspar share.
  5. On January 26, 2017, Brocade Communications (BRCD) confirmed that its shareholders voted in favor of the company’s buyout by Broadcom (AVGO).
  6. On January 27, 2017, NXP Semiconductors (NXPI) announced that, during an extraordinary general meeting of shareholders, NXP obtained shareholder approval for all items proposed relating to the previously disclosed tender offer by Qualcomm Incorporated (QCOM), to acquire all of the outstanding shares of NXP.
  7. On January 25, 2017, Alere (ALR) announced that the European Commission has granted clearance for Abbott Laboratories (ABT) to acquire Alere.
  8. On January 26, 2017, The chief executive of Walgreens Boots Alliance (WBA) said that the biggest U.S. drug store chain was pressing on with its purchase of smaller Rite Aid (RAD), which was announced in October 2015 and has not closed. However as of Friday, January 27th, the deal deadline had not been extended. The stock closed up a little but the spread on the deal remains large after the big drop in Rite Aid stock the week prior.

Closed Deals:

  1. The acquisition of Federal-Mogul Holdings Corporation (FDML) by Icahn Enterprises (IEP) on January 23, 2017. It took 139 days for this deal to be completed.
  2. The acquisition of Applied Micro Circuits Corporation (AMCC) by MACOM Technology Solutions Holdings (MTSI) on January 27, 2017. It took 67 days for this deal to be completed.

Top 10 deals with largest spreads:

Symbol Announced
Date
Acquiring
Company
Closing
Price
Last
Price
Closing
Date
Profit Annualized
Profit
GNW 10/23/2016 China Oceanwide Holdings Group Co., Ltd. (N/A) $5.43 $3.43 06/30/2017 58.31% 140.95%
ALR 02/01/2016 Abbott Laboratories (ABT) $56.00 $38.10 03/31/2017 46.98% 285.80%
RAD 10/27/2015 Walgreens Boots Alliance, Inc. (WBA) $9.00 $6.93 01/31/2017 29.87% 10902.60%
CI 07/23/2015 Anthem, Inc. (ANTM) $182.41 $146.81 04/30/2017 24.25% 98.33%
MON 09/14/2016 Bayer AG (BAYRY) $128.00 $109.40 12/31/2017 17.00% 18.52%
TSL 08/01/2016 Investor consortium comprising Mr. Gao and other entities. (N/A) $11.60 $10.03 03/31/2017 15.63% 95.08%
CAB 10/03/2016 Bass Pro Shops (N/A) $65.50 $57.21 06/30/2017 14.49% 35.03%
LSCC 11/03/2016 Canyon Bridge Capital Partners, Inc. (N/A) $8.30 $7.28 03/31/2017 14.01% 85.23%
SYT 02/03/2016 ChemChina (N/A) $96.01 $84.66 04/15/2017 13.41% 65.25%
NXPI 10/27/2016 QUALCOMM Incorporated (QCOM) $110.00 $97.88 12/31/2017 12.38% 13.49%

List of all pending deals:

  Symbol Announced
Date
Acquiring
Company
Deal
Type
Closing
Value
Closing
Price
Last
Price
Volume Closing
Date
Profit Annu.
Profit
+ GNW 10/23/2016 China Oceanwide Holdings Group Co., Ltd. (N/A) All Cash $2.7 billion $5.43 $3.43 9,837,684 06/30/2017 58.31% 140.95%
+ ALR 02/01/2016 Abbott Laboratories (ABT) All Cash $5.8 billion $56.00 $38.10 532,606 03/31/2017 46.98% 285.80%
+ RAD 10/27/2015 Walgreens Boots Alliance, Inc. (WBA) All Cash $17.2 billion $9.00 $6.93 86,062,253 01/31/2017 29.87% 10902.60%
+ CI 07/23/2015 Anthem, Inc. (ANTM) Cash Plus Stock $54.2 billion $182.41 $146.81 1,100,900 04/30/2017 24.25% 98.33%
+ MON 09/14/2016 Bayer AG (BAYRY) All Cash $66 billion $128.00 $109.40 1,746,573 12/31/2017 17.00% 18.52%
+ TSL 08/01/2016 Investor consortium comprising Mr. Gao and other entities. (N/A) All Cash $2.3 billion $11.60 $10.03 558,833 03/31/2017 15.63% 95.08%
+ CAB 10/03/2016 Bass Pro Shops (N/A) All Cash $5.5 billion $65.50 $57.21 869,845 06/30/2017 14.49% 35.03%
+ LSCC 11/03/2016 Canyon Bridge Capital Partners, Inc. (N/A) All Cash $1.3 billion $8.30 $7.28 800,454 03/31/2017 14.01% 85.23%
+ SYT 02/03/2016 ChemChina (N/A) All Cash $43 billion $96.01 $84.66 371,667 04/15/2017 13.41% 65.25%
+ NXPI 10/27/2016 QUALCOMM Incorporated (QCOM) All Cash $38 billion $110.00 $97.88 2,484,538 12/31/2017 12.38% 13.49%
+ MBVT 10/24/2016 Community Bank System Inc. (CBU) All Stock $304 million $58.24 $52.15 3,844 06/30/2017 11.68% 28.24%
+ TWX 10/22/2016 AT&T, Inc. (T) Special Conditions $108.7 billion $107.50 $96.38 2,719,296 12/31/2017 11.54% 12.57%
+ FGL 11/09/2015 Anbang Insurance Group Co., Ltd. (N/A) All Cash N/A $26.80 $24.15 82,630 03/31/2017 10.97% 66.75%
+ HUM 07/03/2015 Aetna Inc. (AET) Cash Plus Stock $37 billion $223.36 $201.66 1,732,470 02/15/2017 10.76% 245.53%
+ WR 05/31/2016 Great Plains Energy Incorporated (GXP) Special Conditions $12.2 billion $60.00 $54.77 394,152 06/30/2017 9.55% 23.08%
+ WGL 01/25/2017 AltaGas Ltd. (N/A) All Cash $6.4 billion $88.25 $81.20 1,259,119 06/30/2018 8.68% 6.14%
+ CLBH 06/22/2016 First Bancorp (FBNC) All Stock $97.3 million $29.78 $27.49 3,455 03/31/2017 8.33% 50.66%
+ KZ 12/01/2016 Linkedsee Limited and Wiseman International Limited (N/A) All Cash $299 million $7.55 $6.99 13,319 03/31/2017 8.01% 48.74%
+ IOC 07/21/2016 Exxon Mobil Corporation (XOM) Special Conditions $2.5 billion $52.07 $48.25 422,806 03/31/2017 7.92% 48.16%
+ ADGE 11/02/2016 Tecogen Inc. (TGEN) All Stock $20 million $0.39 $0.3649 149,963 06/30/2017 7.15% 17.29%
+ LVLT 10/31/2016 CenturyLink, Inc. (CTL) Cash Plus Stock $34 billion $63.59 $59.61 2,399,813 09/30/2017 6.67% 10.02%
+ SYUT 11/17/2016 Beams Power Investment Limited (N/A) All Cash N/A $6.05 $5.75 126,109 03/31/2017 5.22% 31.74%
+ SWC 12/09/2016 Sibanye Gold Limited (SBGL) All Cash $2.2 billion $18.00 $17.14 623,817 06/30/2017 5.02% 12.13%
+ CFCB 01/26/2017 Midland States Bancorp, Inc. (MSBI) Special Conditions $175.1 million $26.75 $25.50 117,093 06/30/2017 4.90% 11.85%
+ HW 11/20/2016 Boral Limited (N/A) All Cash $2.6 billion $24.25 $23.19 1,469,691 06/30/2017 4.57% 11.05%
+ FRP 12/05/2016 Consolidated Communications Holdings, Inc. (CNSL) All Stock $1.5 billion $19.24 $18.40 353,283 06/30/2017 4.54% 10.98%
+ SGM 01/27/2017 Home Point Financial Corporation (N/A) All Cash $211 million $8.00 $7.66 7,083,952 06/30/2017 4.44% 10.73%
+ EGAS 10/11/2016 First Reserve Energy Infrastructure (N/A) All Cash $196 million $13.10 $12.70 11,796 12/31/2017 3.15% 3.43%
+ ELNK 11/07/2016 Windstream Holdings, Inc. (WIN) All Stock $1.1 billion $6.73 $6.53 551,890 06/30/2017 3.10% 7.48%
+ MBRG 10/24/2016 Access National Corporation (ANCX) All Stock $233.1 million $36.37 $35.36 5,666 06/30/2017 2.87% 6.93%
+ RAI 01/17/2017 British American Tobacco p.l.c. (BTI) Cash Plus Stock $49.4 billion $61.95 $60.34 6,323,224 09/30/2017 2.67% 4.01%
+ WOOF 01/09/2017 Mars, Incorporated (N/A) All Cash $9.1 billion $93.00 $90.77 2,470,070 09/30/2017 2.46% 3.69%
+ EVBS 12/13/2016 Southern National Bancorp of Virginia, Inc. (SONA) All Stock $178.3 million $10.26 $10.04 19,180 06/30/2017 2.24% 5.42%
+ BRCD 11/02/2016 Broadcom Limited (AVGO) All Cash $5.5 billion $12.75 $12.48 3,188,581 10/31/2017 2.16% 2.88%
+ INVN 12/21/2016 TDK Corporation (TTDKY) All Cash $1.3 billion $13.00 $12.73 2,312,106 09/30/2017 2.12% 3.19%
+ OKSB 12/14/2016 Simmons First National Corporation (SFNC) Cash Plus Stock $564.4 million $28.90 $28.30 24,252 09/30/2017 2.12% 3.18%
+ VAL 03/20/2016 The Sherwin-Williams Company (SHW) All Cash $11.3 billion $113.00 $110.69 559,375 03/31/2017 2.09% 12.70%
+ PCBK 01/10/2017 Columbia Banking System, Inc. (COLB) All Stock $644.1 million $26.28 $25.80 102,680 06/30/2017 1.86% 4.49%
+ CFNL 08/18/2016 United Bankshares, Inc. (UBSI) All Stock $912 million $32.06 $31.50 36,701 06/30/2017 1.77% 4.27%
+ WWAV 07/07/2016 Danone (N/A) All Cash $12.5 billion $56.25 $55.30 1,089,649 03/31/2017 1.72% 10.45%
+ SCNB 06/27/2016 People's United Financial Inc. (PBCT) All Stock $402 million $42.36 $41.72 70,544 03/31/2017 1.54% 9.39%
+ ARIA 01/09/2017 Takeda Pharmaceutical Company Limited (N/A) All Cash $5.2 billion $24.00 $23.68 8,097,433 02/28/2017 1.35% 17.01%
+ NSR 12/14/2016 private investment group led by Golden Gate Capital (N/A) All Cash $2.9 billion $33.50 $33.10 349,218 09/30/2017 1.21% 1.82%
+ AWH 12/18/2016 Fairfax Financial Holdings Limited (FFH.TO) Special Conditions $4.9 billion $54.00 $53.37 869,277 06/30/2017 1.18% 2.85%
+ GTWN 10/06/2016 Salem Five Bancorp (N/A) All Cash $49.2 million $26.00 $25.70 8 03/31/2017 1.17% 7.10%
+ MPSX 01/24/2017 WestRock Company (WRK) All Cash $2.28 billion $18.00 $17.80 1,458,178 06/30/2017 1.12% 2.72%
+ GK 08/16/2016 Cintas Corporation (CTAS) All Cash $2.2 billion $97.50 $96.47 224,631 06/30/2017 1.07% 2.58%
+ AFCO 09/12/2016 Farmland Partners Inc. (FPI) All Stock $850 Million $8.46 $8.37 186,755 03/31/2017 1.02% 6.21%
+ SCAI 01/09/2017 UnitedHealth Group (UNH) Special Conditions $2.3 billion $57.00 $56.48 315,295 06/30/2017 0.92% 2.23%
+ CHMT 09/26/2016 LANXESS AG (N/A) All Cash $2.5 billion $33.50 $33.20 624,839 06/30/2017 0.90% 2.18%
+ YDKN 07/21/2016 F.N.B. Corporation (FNB) All Stock $1.4 billion $32.64 $32.35 89,833 03/31/2017 0.89% 5.41%
+ MENT 11/14/2016 Siemens AG (N/A) All Cash $4.5 billion $37.25 $36.93 2,571,109 06/30/2017 0.87% 2.09%
+ CST 08/22/2016 Alimentation Couche-Tard Inc. (N/A) All Cash $4.4 billion $48.53 $48.12 1,524,643 03/31/2017 0.85% 5.18%
+ SE 09/06/2016 Enbridge Inc. (ENB) All Stock $28 billion $42.34 $42.00 7,060,897 03/31/2017 0.81% 4.95%
+ HEOP 12/13/2016 Pacific Premier Bancorp, Inc. (PPBI) All Stock $405.6 million $13.78 $13.67 75,361 06/30/2017 0.80% 1.94%
+ WNR 11/17/2016 Tesoro Corporation (TSO) All Stock $6.4 billion $35.68 $35.42 979,368 06/30/2017 0.73% 1.77%
+ HAR 11/14/2016 Samsung Electronics (N/A) All Cash $8 billion $112.00 $111.19 738,804 06/30/2017 0.73% 1.76%
+ ETP 11/21/2016 Sunoco Logistics Partners L.P. (SXL) All Stock $19.93 billion $39.11 $38.83 3,539,118 03/31/2017 0.71% 4.31%
+ LIOX 12/12/2016 affiliate of H.I.G.Capital (N/A) All Cash $360 million $5.75 $5.71 229,190 03/31/2017 0.70% 4.26%
+ CWEI 01/17/2017 Noble Energy, Inc. (NBL) Cash Plus Stock $3.2 billion $147.00 $146.14 188,621 06/30/2017 0.59% 1.42%
+ JOY 07/21/2016 Komatsu America Corp. (N/A) All Cash $3.7 billion $28.30 $28.14 655,326 06/30/2017 0.57% 1.37%
+ CLCD 01/18/2017 Eli Lilly and Company (LLY) All Cash $960 million $46.50 $46.25 398,860 03/31/2017 0.54% 3.29%
+ JPEP 10/24/2016 American Midstream Partners, LP (AMID) All Stock N/A $10.40 $10.34 86,464 03/31/2017 0.53% 3.24%
+ LLTC 07/26/2016 Analog Devices, Inc. (ADI) Cash Plus Stock $14.8 billion $63.86 $63.52 702,810 06/30/2017 0.53% 1.28%
+ MPG 11/03/2016 American Axle & Manufacturing Holdings Inc. (AXL) Cash Plus Stock $3.3 billion $23.57 $23.45 69,090 06/30/2017 0.49% 1.19%
+ BEAV 10/23/2016 Rockwell Collins (COL) Special Conditions $8.3 billion $62.00 $61.70 779,138 03/31/2017 0.49% 2.96%
+ ALJ 01/03/2017 Delek US Holdings, Inc. (DK) All Stock $1.27 billion $11.76 $11.71 304,966 06/30/2017 0.46% 1.10%
+ IQNT 11/02/2016 affiliate of GTCR LLC (N/A) All Cash $800 million $23.00 $22.90 488,212 03/31/2017 0.44% 2.66%
+ WCIC 09/22/2016 Lennar Corporation (LEN) All Cash $809 million $23.50 $23.40 139,031 03/31/2017 0.43% 2.60%
+ EQY 11/14/2016 Regency Centers Corporation (REG) All Stock $5.6 billion $31.25 $31.12 578,473 06/30/2017 0.43% 1.03%
+ CEB 01/05/2017 Gartner, Inc. (IT) Cash Plus Stock $3.3 billion $76.97 $76.65 401,705 06/30/2017 0.41% 1.00%
+ ISIL 09/12/2016 Renesas Electronics (RNECF) All Cash $3.2 billion $22.50 $22.41 799,883 06/30/2017 0.40% 0.97%
+ UAM 11/17/2016 WellCare Health Plans, Inc. (WCG) All Cash $800 million $10.00 $9.96 93,658 06/30/2017 0.40% 0.97%
+ DSCI 01/11/2017 Integra LifeSciences Holdings Corporation (IART) All Cash $204 million $7.00 $6.975 30,058 03/31/2017 0.36% 2.18%
+ ENH 10/05/2016 SOMPO Holdings, Inc (N/A) All Cash $6.3 billion $93.00 $92.75 167,277 03/31/2017 0.27% 1.64%
+ VASC 12/02/2016 Teleflex Incorporated (TFX) All Cash $1 billion $56.00 $55.85 209,720 06/30/2017 0.27% 0.65%
+ BATS 09/26/2016 CBOE Holdings, Inc. (CBOE) Cash Plus Stock $3.2 billion $34.91 $34.82 256,852 06/30/2017 0.27% 0.65%
+ CLC 12/01/2016 Parker-Hannifin Corporation (PH) All Cash $4.3 billion $83.00 $82.82 504,590 09/30/2017 0.22% 0.33%
+ LOCK 11/20/2016 Symantec Corporation (SYMC) All Cash $2.3 billion $24.00 $23.95 1,326,191 03/31/2017 0.21% 1.27%
+ NILE 11/07/2016 Bain Capital Private Equity and Bow Street LLC (N/A) All Cash $500 million $40.75 $40.68 96,460 03/31/2017 0.17% 1.05%
+ EVER 08/08/2016 TIAA (N/A) All Cash $2.5 billion $19.50 $19.47 1,029,725 06/30/2017 0.15% 0.37%
+ APOL 02/08/2016 A consortium of investors including The Vistria Group, LLC, funds affiliated with Apollo Global Management, LLC and and Najafi Companies (N/A) All Cash $1.1 billion $10.00 $9.99 1,289,278 02/01/2017 0.10% 18.27%
+ TMH 10/31/2016 funds affiliated with Blackstone (N/A) All Cash $6.1 billion $43.50 $43.46 495,258 03/31/2017 0.09% 0.56%
+ QUNR 10/19/2016 Ocean Management Holdings Limited and Ocean Management Merger Sub Limited (N/A) All Cash $4.44 billion $30.39 $30.44 39,114 06/30/2017 -0.16% -0.40%
+ CPPL 11/01/2016 Columbia Pipeline Group, Inc. (N/A) All Cash $915 million $17.00 $17.20 473,047 03/31/2017 -1.16% -7.07%
+ GNVC 01/24/2017 Intrexon Corporation (XON) All Stock $6.3 million $6.42 $6.50 98,725 06/30/2017 -1.30% -3.15%
+ BNCN 01/23/2017 Pinnacle Financial Partners, Inc. (PNFP) All Stock $1.9 billion $35.60 $36.30 552,553 09/30/2017 -1.93% -2.90%
+ CLMS 12/19/2016 an entity formed by Mr. John Calamos and Mr. John Koudounis (N/A) All Cash N/A $8.25 $8.43 339,886 03/31/2017 -2.14% -12.99%
+ ISLE 09/19/2016 Eldorado Resorts, Inc. (ERI) All Cash $1.7 billion $23.00 $23.81 87,003 06/30/2017 -3.40% -8.22%
+ ACAT 01/25/2017 Textron Inc. (TXT) All Cash $311.71 million $18.50 $19.23 767,579 06/30/2017 -3.80% -9.18%
+ MEP 01/27/2017 Enbridge Inc. (ENB) All Cash $170.2 million $8.00 $8.35 1,920,851 06/30/2017 -4.19% -10.13%
+ PVTB 06/29/2016 Canadian Imperial Bank of Commerce (CM) Cash Plus Stock $3.8 billion $50.31 $55.65 264,341 03/31/2017 -9.60% -58.43%
+ WGBS 05/13/2016 Takara Bio USA Holdings, Inc. (N/A) Special Conditions $18 million $4.75 $5.63 29,725 03/31/2017 -15.63% -95.09%
+ CACQ 12/22/2014 Caesars Entertainment Corporation (CZR) All Stock N/A $6.08 $15.25 46,799 03/31/2017 -60.16% -365.97%

Disclaimer: I hold long positions in WhiteWave Foods (WWAV), Apollo Education (APOL), Syngenta (SYT), InterOil Corporation (IOC), Valspar (VAL) and Trina Solar (TSL). Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter@asifsuria

4 Comments

  1. George
    January 30, 2017 at 6:18 am

    I thiink there was an announced deal with MoneyGram as well this past week. (ticker: MGI).

    • Asif Suria
      January 30, 2017 at 11:52 am

      You are right George. We have added this deal now.

  2. Patrick Jones
    February 4, 2017 at 12:36 pm

    Asif,

    Nice job with the new feature (MAAR) Merger Arbitrage Academic Research and tweek to the Merger Arbitrage Tool (MAT) + symbol (left side) to provide links to the original releases when a deal is announced so that you can review those articles or filings directly from the tool instead of having to hunt down the specific Merger Arbitrage Mondays post that referenced the deal.

    We appreciate your weekly Merger Monday updates and for adding new features and enhancements to help the web site users.

    FYI, you may want to consider updating the Closing Date for RAD to 7-31-17 as per the latest update on your web site.

    Thank You,

    Patrick Jones
    Dare To Always Pursue Outragious Profits

    • Asif Suria
      February 4, 2017 at 2:27 pm

      Thank you Patrick. Regarding the closing date for RAD, it has already been updated in the MAT. What you are seeing on this page is static information as of Sunday, January 29th.

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