Merger Arbitrage Mondays – August 7, 2017

Merger activity decreased last week with five new deals announced, five deals closing. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.

There was one new deal announced in the Deals in the Works section.

Deal Statistics:

Total Number of Deals Closed in 2017 125
Total Number of Deals Not Completed in 2017 7
Total Number of Pending Deals
Cash Deals 62
Stock Deals 22
Stock & Cash Deals 11
Special Conditions 6
Total Number of Pending Deals 101
Total Deal Size $845.01 billion

New Deals:

  1. The acquisition of Scripps Networks Interactive (SNI) by Discovery Communications (DISCK) for $14.6 billion in a cash plus stock deal. Scripps shareholders will receive $90 per share under the terms of the agreement, comprised of $63.00 per share in cash and $27.00 per share in Class C Common shares of Discovery stock. The stock portion will be subject to a collar based on the volume weighted average price of Discovery Class C Common Shares over the 15 trading days ending on the third trading day prior to closing. Scripps shareholders will receive 1.2096 Discovery Class C Common shares if the Average Discovery Price is at or below $22.32, and 0.9408 Discovery Class C Common shares if the Average Discovery Price is at or above $28.70. If the Average Discovery Price is greater than $22.32 but less than $28.70, Scripps shareholders will receive a number of shares between 1.2096 and 0.9408 equal to $27.00 in value. If the Average Discovery Price is between $22.32 and $25.51, Discovery has the option to pay additional cash instead of issuing more shares. Scripps shareholders will have the option to elect to receive their consideration in cash, stock or the mixture described above, subject to pro rata cut backs to the extent cash or stock is oversubscribed. Because of the complex structure of this deal, we are treating it as a Special Conditions deal with a deal price of $90.
  2. The acquisition of CDI Corp. (CDI) by affiliates of AE Industrial Partners for $168 million or $8.25 per share in cash.
  3. The acquisition of PharMerica Corporation (PMC) by KKR & Co. (KKR) for $1.39 billion or $29.25 per share in cash.
  4. The acquisition of Numerex (NMRX) by Sierra Wireless (SWIR) for $107 million in an all stock deal. Under the terms of the Merger Agreement, Numerex shareholders will receive a fixed exchange ratio of 0.1800 common shares of Sierra Wireless for each share of Numerex common stock.
  5. The acquisition of CombiMatrix Corporation (CBMX) by Invitae Corporation (NVTA) for $20.22 million. The consideration payable to the holders of currently outstanding shares of CombiMatrix common stock is $27 million, based on a fixed price per share of Invitae’s common stock of $9.49 and subject to an adjustment for “Net Cash” of CombiMatrix at closing. Based on the Company’s current forecasts and estimates of Net Cash, and based on a fixed price per share of Invitae’s common stock of $9.49, the Company presently estimates that the CombiMatrix price per share received by CombiMatrix common stockholders would be between approximately $8.00 and $8.65. We are using the midpoint of this range as the closing price for this deal.

Deal Updates:

  1. On August 1, 2017, Mobileye (MBLY) announced that on July 31, 2017 the Korea Fair Trade Commission approved the previously announced all cash tender offer by Cyclops Holdings, a wholly-owned subsidiary of Intel Corporation, to purchase all of the outstanding ordinary shares of Mobileye pursuant to the Purchase Agreement.
  2. On August 2, 2017, Straight Path Communications (STRP) stockholders voted in favour of the proposal, to adopt the merger agreement between Straight Path Communications, Verizon Communications (VZ) and Waves Merger Sub.
  3. On August 2, 2017, Sabra Health Care (SBRA) reiterated the unanimous recommendation of its Board of Directors that Sabra shareholders vote “FOR” the Company’s proposed merger with Care Capital Properties (CCP) and common stock issuance proposal at the Company’s Special Meeting of Stockholders on August 15, 2017. Sabra also issued a statement in response to the report recently issued by proxy advisory firm, Institutional Shareholder Services regarding the merger.
  4. August 2, 2017: Genworth (GNW) and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.
  5. On August 4, 2017, NOVADAQ Technologies (NVDQ) announced that at the special meeting of the shareholders of the Corporation, shareholders overwhelmingly approved the previously announced plan of arrangement pursuant to which Stryker Corporation (SYK) will acquire all of the outstanding common shares of NOVADAQ.
  6. On August 4, 2017, DuPont (DD) and The Dow Chemical Company (DOW) announced that all required regulatory approvals and clearances have been received, that all conditions to closing of their merger of equals have been satisfied, and that their merger of equals will close after the market closes on August 31, 2017. Shares of Dow and DuPont will cease trading at the close of the New York Stock Exchange on August 31. Shares of DowDuPont will begin trading on the NYSE under the stock ticker symbol “DWDP” on September 1, 2017. The companies continue to expect the intended spin-offs to occur within 18 months of closing.

Closed Deals:

  1. The acquisition of Nexvet Biopharma Public Limited Company (NVET) by Zoetis (ZTS) on July 31, 2017. It took 109 days for this deal to be completed.
  2. The acquisition of Intrawest Resorts Holdings (SNOW) by an entity controlled by affiliates of the Aspen Skiing Compan and KSL Capital Partners on July 31, 2017. It took 112 days for this deal to be completed.
  3. The acquisition of Xactly Corporation (XTLY) by Vista Equity Partners on July 31, 2017. It took 62 days for this deal to be completed.
  4. The acquisition of Gas Natural (EGAS) by First Reserve Energy Infrastructure on August 4, 2017. It took 297 days for this deal to be completed.
  5. The acquisition of UCP (UCP) by Century Communities (CCS) on August 4, 2017. It took 115 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 $3.42 11/30/2017 58.77% 186.54%
LSCC 11/03/2016 Canyon Bridge Capital Partners, Inc. (N/A) $8.30 $6.63 09/30/2017 25.19% 170.26%
CAB 10/03/2016 Bass Pro Shops (N/A) $61.50 $52.34 09/30/2017 17.50% 118.29%
MGI 01/26/2017 Ant Financial Services Group (N/A) $18.00 $15.64 12/31/2017 15.09% 37.72%
ATW 05/30/2017 Ensco plc (ESV) $8.51 $7.65 09/30/2017 11.27% 76.16%
HUN 05/22/2017 CLARIANT N (CLN.VX) $28.22 $25.77 12/31/2017 9.51% 23.77%
XCRA 04/10/2017 an affiliate of Sino IC Capital and Unic Capital Management (N/A) $10.25 $9.38 12/31/2017 9.28% 23.19%
MON 09/14/2016 Bayer AG (BAYRY) $128.00 $117.84 12/31/2017 8.62% 21.55%
HCOM 07/10/2017 Cincinnati Bell (CBB) $32.54 $30.75 12/31/2018 5.81% 4.15%
CBMX 07/31/2017 Invitae Corporation (NVTA) $8.33 $7.90 12/31/2017 5.44% 13.61%

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 $3.42 6,916,390 11/30/2017 58.77% 186.54%
+ LSCC 11/03/2016 Canyon Bridge Capital Partners, Inc. (N/A) All Cash $1.3 billion $8.30 $6.63 186,608 09/30/2017 25.19% 170.26%
+ CAB 10/03/2016 Bass Pro Shops (N/A) All Cash $5 billion $61.50 $52.34 1,567,212 09/30/2017 17.50% 118.29%
+ MGI 01/26/2017 Ant Financial Services Group (N/A) All Cash $1.2 billion $18.00 $15.64 919,511 12/31/2017 15.09% 37.72%
+ ATW 05/30/2017 Ensco plc (ESV) All Stock $1.7 billion $8.51 $7.65 3,836,540 09/30/2017 11.27% 76.16%
+ HUN 05/22/2017 CLARIANT N (CLN.VX) All Stock $6.72 billion $28.16 $25.77 2,749,915 12/31/2017 9.28% 23.21%
+ XCRA 04/10/2017 an affiliate of Sino IC Capital and Unic Capital Management (N/A) All Cash $439.97 million $10.25 $9.38 308,695 12/31/2017 9.28% 23.19%
+ MON 09/14/2016 Bayer AG (BAYRY) All Cash $66 billion $128.00 $117.84 801,020 12/31/2017 8.62% 21.55%
+ HCOM 07/10/2017 Cincinnati Bell (CBB) Cash Plus Stock $650 million $32.54 $30.75 233,304 12/31/2018 5.81% 4.15%
+ CBMX 07/31/2017 Invitae Corporation (NVTA) All Cash $20.22 million $8.33 $7.90 313,191 12/31/2017 5.44% 13.61%
+ SVA 06/26/2017 Sinovac Limited and Sinovac Amalgamation Sub Limited (N/A) All Cash $437.59 million $7.00 $6.66 53,105 12/31/2017 5.11% 12.76%
+ SGBK 03/27/2017 Home Bancshares, Inc. (HOMB) Special Conditions $778.4 million $49.00 $46.73 54,717 12/31/2017 4.86% 12.14%
+ TWX 10/22/2016 AT&T, Inc. (T) Special Conditions $108.7 billion $107.50 $102.52 2,683,915 12/31/2017 4.86% 12.14%
+ CCP 05/07/2017 Sabra Health Care REIT, Inc. (SBRA) All Stock $4.07 billion $25.93 $24.95 1,507,141 09/30/2017 3.93% 26.55%
+ AMFW 03/13/2017 John Wood Group Plc (WG.L) All Stock $4.3 billion $5.95 $5.74 15,093 12/31/2017 3.62% 9.05%
+ NMRX 08/02/2017 Sierra Wireless, Inc. (SWIR) All Stock $107 million $4.54 $4.38 79,973 12/31/2017 3.56% 8.90%
+ TRCO 05/08/2017 Sinclair Broadcast Group, Inc. (SBGI) Cash Plus Stock $6.6 billion $42.22 $40.80 1,726,758 12/31/2017 3.49% 8.71%
+ RICE 06/19/2017 EQT Corporation (EQT) Cash Plus Stock $8.2 billion $28.41 $27.48 2,737,178 12/31/2017 3.39% 8.46%
+ ALR 02/01/2016 Abbott Laboratories (ABT) All Cash $5.3 billion $51.00 $49.40 4,045,780 09/30/2017 3.24% 21.89%
+ SNI 07/31/2017 Discovery Communications, Inc. (DISCK) Special Conditions $14.6 billion $90.00 $87.29 6,247,413 03/31/2018 3.10% 4.80%
+ GSOL 05/23/2017 Expo Holdings I Ltd. (N/A) All Cash N/A $20.00 $19.40 34,915 12/31/2017 3.09% 7.73%
+ BRCD 11/02/2016 Broadcom Limited (AVGO) All Cash $5.5 billion $12.75 $12.38 9,816,056 10/28/2017 2.99% 13.30%
+ WGL 01/25/2017 AltaGas Ltd. (N/A) All Cash $6.4 billion $88.25 $85.69 150,876 06/30/2018 2.99% 3.33%
+ SNBC 06/30/2017 OceanFirst Financial Corp. (OCFC) Cash Plus Stock $640.73 million $25.07 $24.40 69,236 01/31/2018 2.73% 5.64%
+ PBNC 04/27/2017 TowneBank (TOWN) All Stock $323.7 million $54.94 $53.48 17,728 12/31/2017 2.73% 6.83%
+ STRP 05/11/2017 Verizon Communications Inc. (VZ) All Cash $3.1 billion $184.00 $179.16 164,133 03/15/2018 2.70% 4.48%
+ HNH 06/26/2017 Steel Partners Holdings L.P. (SPLP-PA) All Stock $693.48 million $33.06 $32.20 6,006 12/31/2017 2.68% 6.70%
+ WFBI 05/16/2017 Sandy Spring Bancorp, Inc. (SASR) All Stock $489 million $34.70 $33.88 39,200 12/31/2017 2.43% 6.08%
+ CACQ 12/22/2014 Caesars Entertainment Corporation (CZR) All Stock N/A $19.91 $19.45 437,878 10/06/2017 2.35% 14.27%
+ ASBB 05/01/2017 First Bancorp (FBNC) All Stock $175 million $45.49 $44.50 583 12/31/2017 2.22% 5.56%
+ RBPAA 01/30/2017 Bryn Mawr Bank Corporation (BMTC) All Stock $127.7 million $4.38 $4.29 10,678 09/30/2017 2.14% 14.48%
+ LVLT 10/31/2016 CenturyLink, Inc. (CTL) Cash Plus Stock $34 billion $58.60 $57.38 1,452,555 09/30/2017 2.13% 14.38%
+ CBF 05/04/2017 First Horizon National Corp. (FHN) Cash Plus Stock $2.2 billion $39.10 $38.30 420,768 12/31/2017 2.10% 5.25%
+ BKMU 07/20/2017 Associated Banc-Corp (ASB) All Stock $482 million $9.90 $9.70 234,003 03/31/2018 2.02% 3.12%
+ GLBL 03/07/2017 Brookfield Asset Management Inc. (BAM) All Cash $1.3 billion $5.10 $5.00 379,428 12/31/2017 2.00% 5.00%
+ XBKS 05/22/2017 Union Bankshares Corporation (UBSH) All Stock $701.2 million $29.71 $29.14 48,332 01/15/2018 1.95% 4.42%
+ FSBK 06/12/2017 Carolina Financial Corporation (CARO) All Stock $162 million $17.63 $17.31 17,451 12/31/2017 1.84% 4.59%
+ SPA 07/07/2017 Ultra Electronics Holdings (N/A) All Cash $308.13 million $23.50 $23.09 74,294 01/08/2018 1.78% 4.21%
+ AKRX 04/24/2017 Fresenius Kabi (N/A) All Cash $4.75 billion $34.00 $33.47 2,427,288 03/31/2018 1.58% 2.45%
+ ANCB 04/11/2017 Washington Federal, Inc. (WAFD) Special Conditions $63.9 million $25.75 $25.35 538 09/30/2017 1.58% 10.67%
+ CUNB 04/06/2017 PacWest Bancorp (PACW) Cash Plus Stock $705 million $37.62 $37.05 59,956 12/31/2017 1.53% 3.82%
+ OKSB 12/14/2016 Simmons First National Corporation (SFNC) Cash Plus Stock $564.4 million $26.01 $25.65 63,934 09/30/2017 1.41% 9.50%
+ BCR 04/23/2017 Becton, Dickinson and Company (BDX) Cash Plus Stock $24 billion $322.97 $318.58 731,807 11/30/2017 1.38% 4.38%
+ MSFG 07/25/2017 First Financial Bancorp. (FFBC) All Stock $1 billion $35.73 $35.33 146,725 03/31/2018 1.13% 1.74%
+ FIG 02/14/2017 SoftBank Group Corp. (SFTBY) All Cash $3.3 billion $8.08 $7.99 2,186,858 12/31/2017 1.13% 2.82%
+ AVA 07/19/2017 Hydro One Limited (N/A) All Cash $5.3 billion $53.00 $52.41 505,408 12/31/2018 1.13% 0.80%
+ WBKC 06/14/2017 Horizon Bancorp (HBNC) Cash Plus Stock $88.9 million $40.50 $40.05 479 10/31/2017 1.12% 4.79%
+ FCH 04/24/2017 RLJ Lodging Trust (RLJ) All Stock $2.58 billion $7.52 $7.44 2,622,951 12/31/2017 1.11% 2.77%
+ PCBK 01/09/2017 Columbia Banking System, Inc. (COLB) All Stock $644.1 million $25.28 $25.00 32,732 09/30/2017 1.11% 7.47%
+ PMC 08/03/2017 KKR & Co. L.P. Unit (KKR) All Cash $1.39 billion $29.25 $28.95 791,192 05/01/2018 1.04% 1.42%
+ DDC 07/17/2017 The Washington Companies (N/A) All Cash $1.06 billion $14.25 $14.12 3,351,875 12/31/2017 0.92% 2.30%
+ NDRM 07/24/2017 Mitsubishi Tanabe Pharma Corporation (N/A) All Cash $654.33 million $39.00 $38.65 492,980 12/31/2017 0.91% 2.26%
+ PSTB 04/27/2017 South State Corporation (SSB) All Stock $690.8 million $11.77 $11.67 170,098 12/31/2017 0.89% 2.23%
+ DGI 02/24/2017 MacDonald, Dettwiler and Associates Ltd. (MDA.TO) Cash Plus Stock $3.6 billion $35.08 $34.80 204,624 10/31/2017 0.82% 3.51%
+ AIQ 04/11/2017 Tahoe Investment Group Co., Ltd. (N/A) All Cash $682 million $13.25 $13.15 37,984 09/30/2017 0.76% 5.14%
+ VWR 05/05/2017 Avantor (N/A) All Cash $6.4 billion $33.25 $33.00 749,621 09/30/2017 0.76% 5.12%
+ RATE 07/03/2017 Red Ventures (N/A) All Cash $1.4 billion $14.00 $13.90 540,674 12/31/2017 0.72% 1.80%
+ PRXL 06/20/2017 Pamplona Capital Management, LLP (N/A) All Cash $5 billion $88.10 $87.48 415,225 10/31/2017 0.71% 3.04%
+ MYCC 07/10/2017 Certain Investment Funds Affiliated with Apollo Global Management (N/A) All Cash $1.1 billion $17.12 $17.00 1,424,469 12/31/2017 0.71% 1.76%
+ WSTC 05/09/2017 affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (APO) All Cash $5.1 billion $23.50 $23.34 331,116 12/31/2017 0.69% 1.71%
+ SEV 07/17/2017 BorgWarner (N/A) All Cash $200 million $22.00 $21.86 9,934 12/31/2017 0.64% 1.60%
+ SPLS 06/28/2017 Sycamore Partners (N/A) All Cash $6.9 billion $10.25 $10.185 3,860,882 12/31/2017 0.64% 1.60%
+ WMAR 06/29/2017 a wholly owned affiliate of Monomoy Capital Partners (N/A) All Cash $258 million $12.97 $12.89 67,253 09/30/2017 0.62% 4.20%
+ ARIS 06/21/2017 True Wind Capital Management, LLC (N/A) All Cash $140 million $7.10 $7.060 43,594 09/30/2017 0.57% 3.83%
+ AF 03/07/2017 Sterling Bancorp (STL) All Stock $2.2 billion $20.21 $20.10 712,399 12/31/2017 0.56% 1.40%
+ VTTI 05/08/2017 VTTI B.V. (N/A) All Cash $1.59 billion $19.50 $19.40 139,914 09/30/2017 0.52% 3.48%
+ NVDQ 06/19/2017 Stryker Corporation (SYK) All Cash $701 million $11.75 $11.69 2,081,333 09/30/2017 0.51% 3.47%
+ WFM 06/16/2017 Amazon.com, Inc. (AMZN) All Cash $13.7 billion $42.00 $41.81 3,204,839 12/31/2017 0.45% 1.14%
+ LMOS 02/20/2017 EQT Infrastructure investment strategy (N/A) All Cash $950 million $18.00 $17.92 56,990 09/30/2017 0.45% 3.02%
+ HSNI 07/06/2017 Liberty Interactive Corporation (QVCA) All Stock $2.6 billion $40.13 $39.95 377,087 12/31/2017 0.45% 1.11%
+ WOOF 01/07/2017 Mars, Incorporated (N/A) All Cash $9.1 billion $93.00 $92.62 411,326 09/30/2017 0.41% 2.77%
+ FUEL 07/18/2017 Sizmek Inc. (N/A) All Cash $145 million $2.60 $2.59 735,196 09/30/2017 0.39% 2.61%
+ SWFT 04/10/2017 Knight Transportation, Inc. (KNX) All Stock $3.24 bilion $26.14 $26.04 1,081,365 09/30/2017 0.37% 2.49%
+ DFT 06/09/2017 Digital Realty Trust, Inc. (DLR) All Stock $7.6 billion $62.78 $62.56 531,162 12/31/2017 0.36% 0.90%
+ WBMD 07/24/2017 Internet Brands (N/A) All Cash $2.8 billion $66.50 $66.30 956,290 12/31/2017 0.30% 0.75%
+ GUID 07/26/2017 Open Text Corporation (OTEX) All Cash $161.94 million $7.10 $7.08 1,034,603 09/30/2017 0.28% 1.91%
+ ENOC 06/22/2017 Enel Green Power North America, Inc. (N/A) All Cash $300 million $7.67 $7.65 246,067 09/30/2017 0.26% 1.77%
+ AMRI 06/06/2017 affiliates of The Carlyle Group and GTCR LLC (N/A) All Cash $1.49 billion $21.75 $21.72 681,502 09/30/2017 0.14% 0.93%
+ DGAS 02/21/2017 Peoples Natural Gas (N/A) All Cash $227 million $30.50 $30.46 5,260 12/31/2017 0.13% 0.33%
+ FPO 06/28/2017 Government Properties Income Trust (GOV) All Cash $1.4 billion $11.15 $11.14 431,236 12/31/2017 0.09% 0.22%
+ PTHN 05/15/2017 Thermo Fisher Scientific Inc. (TMO) All Cash $7.2 billion $35.00 $34.97 121,313 12/31/2017 0.09% 0.21%
+ MORE 07/05/2017 Greystar Growth and Income Fund (N/A) All Cash $3 billion $12.00 $11.99 1,903,541 12/31/2017 0.08% 0.21%
+ MBLY 03/13/2017 Intel Corporation (INTC) All Cash $14.7 billion $63.54 $63.49 2,423,868 12/31/2017 0.08% 0.20%
+ SNC 07/26/2017 Markel Corporation (MKL) All Cash $919 million $21.00 $20.99 383,344 12/31/2017 0.05% 0.12%
+ MRVC 07/02/2017 ADVA Optical Networking (N/A) All Cash $50.57 million $10.00 $10.00 24,684 09/30/2017 0.00% 0.00%
+ NCIT 07/03/2017 by private funds managed by an affiliate of H.I.G. Capital, LLC (N/A) All Cash $190.44 million $20.00 $20.00 56,383 09/30/2017 0.00% 0.00%
+ CDI 07/31/2017 affiliates of AE Industrial Partners, LLC (N/A) All Cash $168 million $8.25 $8.25 138,273 09/30/2017 0.00% 0.00%
+ NSR 12/14/2016 private investment group led by Golden Gate Capital (N/A) All Cash $2.9 billion $33.50 $33.50 1,026,064 09/30/2017 0.00% 0.00%
+ SPNC 06/28/2017 Philips (PHG) All Cash $2.2 billion $38.50 $38.50 715,183 09/30/2017 0.00% 0.00%
+ SHOR 07/27/2017 Mitel Networks Corporation (MITL) All Cash $430 million $7.50 $7.50 1,253,634 09/30/2017 0.00% 0.00%
+ PKY 06/30/2017 Canada Pension Plan Investment Board (N/A) All Cash $1.2 billion $23.05 $23.06 196,040 12/31/2017 -0.04% -0.11%
+ NUTR 05/22/2017 an affiliate of HGGC (N/A) All Cash $446 million $41.80 $41.85 217,155 12/31/2017 -0.12% -0.30%
+ NEFF 07/14/2017 H&E Equipment Services, Inc. (HEES) All Cash $1.2 billion $21.07 $21.10 76,472 10/31/2017 -0.14% -0.61%
+ FGL 05/24/2017 CF Corporation (CFCO) All Cash $1.835 billion $31.10 $31.15 64,751 12/31/2017 -0.16% -0.40%
+ SCLN 06/08/2017 a consortium consisting of entities affiliated with GL Capital Management GP Limited, Bank of China Group Investment Limited, CDH Investments, Ascendent Capital Partners and Boying (N/A) All Cash $605 million $11.18 $11.20 558,474 12/31/2017 -0.18% -0.45%
+ OB 05/02/2017 Intact Financial Corporation (N/A) All Cash $1.7 billion $18.10 $18.22 101,730 12/31/2017 -0.66% -1.65%
+ NORD 04/25/2017 Canada Pension Plan Investment Board and Baring Private Equity Asia (N/A) All Cash $4.3 billion $32.50 $33.11 387,551 08/31/2017 -1.84% -28.02%
+ NXPI 10/27/2016 QUALCOMM Incorporated (QCOM) All Cash $38 billion $110.00 $112.42 5,551,492 12/31/2017 -2.15% -5.38%
+ ZPIN 04/06/2017 SEEK International Investments Pty Ltd. (N/A) All Cash $678.59 million $18.20 $18.70 10,377 12/31/2017 -2.94% -7.35%
+ GNCMA 04/04/2017 Liberty Ventures (LVNTA) Special Conditions $2.68 billion $32.50 $41.63 287,267 12/31/2017 -21.93% -54.83%
+ ANGI 05/02/2017 IAC/InterActiveCorp (IAC) Special Conditions $331.67 million $8.50 $12.14 243,737 12/31/2017 -29.98% -74.96%

Disclaimer: I hold positions in Staples (SPLS), Whole Foods (WFM), Cabela’s (CAB) and Fortress Investment Group (FIG). 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.

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