Merger Arbitrage Tool

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  Symbol Announced Date Acquiring
Company
Deal
Type
Clo.
Value
Clo.
Price
Last
Price
Volume Clo.
Date
Profit Annu.
Profit
ALR 02/01/2016 Abbott Laboratories (ABT) Cash $5.8 billion $56.00 $39.13 1,380,619 03/31/2017 43.11% 2622.69%
Alere Inc. merger details:

Expected to close before the end of the year after the approval of Alere shareholders and the satisfaction of customary closing conditions for a closing value of $5.8 billion. Upon completion of the merger, shareholders of Alere will receive $56.00 per share in cash.

Update(s)
April 29, 2016: Alere (ALR) rejected Abbott Laboratories's (ABT) attempt to end its $5.8 billion pending acquisition of the company.

Update(s)

April 29, 2016: Alere (ALR) rejected Abbott Laboratories's (ABT) attempt to end its $5.8 billion pending acquisition of the company.

July 27, 2016: Alere received a U.S. Department of Justice subpoena regarding government-billing practices. The company released a statement claiming that the billing concerned "accounted for significantly less than 1% of Alere's total revenues" and is not material. 

August 26, 2016: Alere (ALR) issued a statement saying it’s suing the company it’s hoping to merge with, Abbott Laboratories (ABT). Alere said in a statement that it filed the complaint Thursday in Delaware Chancery Court hoping “to compel Abbott to fulfill its obligations under the terms of the merger agreement to take all actions necessary to promptly obtain all required anti-trust approvals.”

September 2, 2016: Representatives for Alere said that a Delaware judge granted a motion to expedite Alere's (ALR) lawsuit against Abbott Laboratories (ABT), which seeks to ensure that Abbott lives up to the terms of its $5.8 billion takeover of the diagnostics company.

September 8, 2016: Abbott Laboratories (ABT) and Alere (ALR) agreed to work with a mediator to settle their dispute over Abbott's role in obtaining U.S. antitrust clearance for its $5.8 billion takeover of the diagnostics company.

September 26, 2016: Alere said that mediation efforts between Abbott Laboratories (ABT) and Alere (ALR) have broken down. With the failure of the talks, Alere will likely proceed with a lawsuit in the Delaware Court of Chancery where it it trying to force Abbott to complete its $5.6 billion purchase of Alere.

October 21, 2016: Alere (ALR) announced that its shareholders have voted to approve the previously announced merger with Abbott (ABT). 

November 5, 2016: Abbott Laboratories (ABT) launched a lawsuit against Alere (ALR) for having not complying with the certain conditions contained in the $7.9 billion agreement.

December 7, 2016: Alere (ALR), issued a statement in response to a lawsuit filed by Abbott Laboratories (ABT) in the Delaware Court of Chancery to terminate Abbott's pending merger agreement with Alere. On December 8, 2016, Abbott Laboratories fired the latest salvo in its legal battle with Alere over their $5.8 billion buyout agreement, suing the troubled Waltham diagnostics firm in an effort to terminate the deal.

December 30, 2016: Arriva Medical, a Florida-based subsidiary of Alere (ALR), filed an appeal with the the Centers for Medicare and Medicaid Services on Wednesday seeking to reinstate its enrollment. The Medicare dispute is one reason why Abbott Laboratories (ABT) is currently seeking to terminate its February buyout of Alere. The companies have sued one another in Delaware court, with Alere arguing that the $5.8 billion deal should go forward.

January 4, 2017: Alere (ALR) provided an update in connection with Arriva Medical's complaint filed on December 28, 2016, against the Centers for Medicare & Medicaid Services. We have extended the closing date for this deal to March 31, 2017.

January 25, 2017: Alere (ALR) announced that the European Commission has granted clearance for Abbott Laboratories (ABT) to acquire Alere.

RAD 10/27/2015 Walgreens Boots Alliance, Inc. (WBA) Cash $17.2 billion $6.50 $4.57 9,501,919 07/31/2017 42.23% 120.43%
Rite Aid Corporation merger details:

Expected to close in the second half of 2016 for a closing value of $17.2 billion. Upon completion of the merger, shareholders of Rite Aid Corporation will receive $9.00 per share in cash.

Update(s)

September 9, 2016: Walgreens (WBA) announced that it has been in talks with the Federal Trade Commission (FTC) since its announcement to discuss what actions need to be taken to gain the necessary regulatory blessings of its $17 billion acquisition of RiteAid (RAD).

September 12, 2016: Walgreens (WBA) to Divest More Stores to Close Rite Aid Deal. WBA provided an update to its proposed takeover of Rite Aid Corporation (RAD). Per the requirements stated by the U.S. Federal Trade Commission, for the acquisition to be closed, Walgreens now needs to divest between 500 and 1,000 drug stores.

October 20, 2016: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that, in accordance with the terms of their merger agreement dated 27 October 2015, they have mutually agreed to extend the end date of their merger agreement from 27 October 2016 to 27 January 2017. The companies now expect the transaction will close in early calendar 2017. 

December 20, 2016: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that they have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s (FRED) for $950 million in an all-cash transaction.

January 20, 2017: Rite Aid (RAD) shares were halted after falling 18% on reports that the FTC will not approve Walgreens Boots Alliance's (WBA) acquisition of the company, even after the two sides promised store divestitures to Fred's (FRED).

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.

January 30, 2017: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that they have entered into an amendment and extension of their previously announced definitive merger agreement. Under the terms of the amendment, the parties have agreed to reduce the price for each share of Rite Aid common stock to be paid by Walgreens Boots Alliance. The revised price will be a maximum of $7.00 per share and a minimum of $6.50 per share.

In addition, Walgreens Boots Alliance will be required to divest up to 1,200 Rite Aid stores and certain additional related assets if required to obtain regulatory approval. The exact price per share will be determined based on the number of required store divestitures, with the price set at $7.00 per share if 1,000 stores or fewer are required for divestiture and at $6.50 per share if 1,200 stores are required for divestiture. If the required divestitures fall between 1,000 and 1,200 stores, then there will be a pro-rata adjustment of the price per share. Walgreens Boots Alliance agreement to divest up to 1,200 Rite Aid stores represents an increase of up to 200 stores over the 1,000 stores that Walgreens Boots Alliance had agreed to divest under the terms of the original agreement.

In addition, Walgreens Boots Alliance will be required to divest up to 1,200 Rite Aid stores and certain additional related assets if required to obtain regulatory approval. The exact price per share will be determined based on the number of required store divestitures, with the price set at $7.00 per share if 1,000 stores or fewer are required for divestiture and at $6.50 per share if 1,200 stores are required for divestiture. If the required divestitures fall between 1,000 and 1,200 stores, then there will be a pro-rata adjustment of the price per share. Walgreens Boots Alliance agreement to divest up to 1,200 Rite Aid stores represents an increase of up to 200 stores over the 1,000 stores that Walgreens Boots Alliance had agreed to divest under the terms of the original agreement.

Additionally, Walgreens Boots Alliance and Rite Aid agreed to extend the end date under the previously announced agreement from 27 January 2017 to 31 July 2017 in order to allow the parties additional time to obtain regulatory approval.

March 15, 2017: Walgreens Boots Alliance (WBA) is trying to secure a deal to sell more locations and assets to Fred’s (FRED) so that it can meet regulatory approval to acquire Rite Aid (RAD).

March 16, 2017: As Walgreens Boots Alliance's (WBA) acquisition of Rite Aid (RAD) nears FTC approval, Fred's has added several directors with retail experience to its board.

CAB 10/03/2016 Bass Pro Shops (N/A) Cash $5.5 billion $65.50 $46.35 251,875 06/30/2017 41.32% 155.47%
Cabelas Incorporated merger details:

Expected to close in the first half of 2017 for a closing value of $5.5 billion. Upon completion of the merger, shareholders of Cabela's will receive $65.50 per share in cash.

Update(s)

October 25, 2016: Cabela’s Incorporated (CAB) and Parent each filed with the Canadian Competition Bureau pre-merger notification forms pursuant to Section 114(1) of the Competition Act, which triggered the start of the 30-day statutory waiting period under the Competition Act. The waiting period was originally scheduled to expire on November 24, 2016, unless a Supplementary Information Request (“SIR”) was issued by the Bureau pursuant to subsection 114(2) of the Competition Act. On November 24, 2016, the Company and Parent each received from the Bureau a SIR pursuant to subsection 114(2) of the Competition Act. The issuance of a SIR does not indicate that the Bureau has concluded that the transaction raises competition concerns. The SIR reflects a determination by the Bureau that it requires additional information to assess the proposed transaction. The Bureau’s decision has the effect of extending the waiting period applicable to the Merger under the Competition Act, before which the transaction is prohibited by law to close, until 30 days after the day on which the information requested in the SIR has been received by the Bureau from all SIR recipients. The Company and Parent intend to cooperate fully with this request.

On October 25, 2016, the Company and Parent filed their respective notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), with the Antitrust Division of the Department of Justice and the United States Federal Trade Commission, which triggered the start of the HSR Act waiting period. The statutory waiting period was originally scheduled to expire on November 25, 2016. Effective November 25, 2016, with the Company’s prior consent, Parent voluntarily withdrew its HSR Act notification to provide the FTC an extension beyond the initial 30-day HSR Act waiting period to conduct its review. On November 29, 2016, Parent re-filed its HSR Act notification with the FTC and DOJ. The new waiting period under the HSR Act will expire on December 29, 2016, unless the DOJ or FTC grants early termination of the HSR Act waiting period or formally requests additional information concerning the Merger.

December 30, 2016: U.S. fishing and hunting equipment retailer Cabela's (CAB), which is being bought by privately held rival Bass Pro Shops, said the Federal Trade Commission had sought more information from the companies about the deal. Capital One had informed the company that it does not expect to get approval for acquiring the credit card business, called World's Foremost Bank, before Oct. 3, 2017, hence not allowing the deal to close in the first half of 2017.

February 23, 2017: The possibility of Gander Mountain's bankruptcy could derail Cabela's (CAB) merger with Bass Pro Shops.

GNW 10/23/2016 China Oceanwide Holdings Group Co., Ltd. (N/A) Cash $2.7 billion $5.43 $3.93 9,243,362 06/30/2017 38.17% 143.62%
Genworth Financial, Inc. merger details:

Expected to close in the middle of 2017 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Genworth Financial will receive $5.43 per share in cash.

Update(s)

December 21, 2016: Genworth Financial (GNW) announced that under the HSR Act, the merger with China Oceanwide Holdings Group may not be completed until certain information and materials have been provided by Asia Pacific and Genworth to the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission, and the applicable waiting period under the HSR Act has expired or been terminated. The parties filed the required notifications with the Antitrust Division and the FTC on December 7, 2016 and early termination of the applicable waiting period was granted on December 16, 2016.

January 25, 2017: Genworth Financial (GNW) announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will commence mailing to stockholders of record the definitive proxy materials in connection with the previously announced transaction with China Oceanwide Holdings Group. The special meeting of Genworth stockholders will be held on Tuesday, March 7, 2017.

March 7, 2017: Genworth Financial (GNW) announced that at its stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group.

ADGE 11/02/2016 Tecogen Inc. (TGEN) Stock $20 million $0.34 $0.29 22,679 06/30/2017 18.33% 68.98%
American DG Energy, Inc. merger details:

Expected to close in the first half of 2017 for $20 million in an all stock deal. Under the terms of the agreement, each share of American DG common stock will be exchanged for 0.092 shares of Tecogen common stock.

LSCC 11/03/2016 Canyon Bridge Capital Partners, Inc. (N/A) Cash $1.3 billion $8.30 $7.04 1,313,583 03/31/2017 17.90% 1088.78%
Lattice Semiconductor Corporation merger details:

Expected to close early in 2017 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of Lattice Semiconductor will receive $8.30 per share in cash.

Update(s)

November 30, 2016: Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies. Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.

January 27, 2017: Lattice Semiconductor (LSCC) invited its shareholders to attend a special meeting of stockholders of Lattice Semicondutors, which will be held on Feburary 28, 2017. The Merger is subject to routine review by antitrust authorities to determine whether the proposed transaction is likely to substantially lessen competition in any relevant market. Under the Merger Agreement, the Merger cannot be completed until (1) the expiration or termination of the applicable waiting period under the HSR Act, which early termination was granted on January 4, 2017, (2) the expiration or termination of the applicable waiting period under the Austrian Competition Act (Wettbewerbsgesetz) and/or the Austrian Cartel Act (Kartellgesetz), and (3) the clearance of the Merger by CFIUS.

February 28, 2017: Lattice Semiconductor Corporation (LSCC) announced that its shareholders have approved the adoption of the agreement and plan of merger.

Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies.
Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies.Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.
MON 09/14/2016 Bayer AG (BAYRY) Cash $66 billion $128.00 $113.67 1,590,131 12/31/2017 12.61% 16.38%
Monsanto Company merger details:

Expected to close by the end of 2017 for a closing value of $66 billion. Upon completion of the merger, shareholders of Monsanto will receive $128 per share in cash.

Update(s)

March 9, 2017: According to Reuters, Bayer (BAYRY) and Monsanto (MON) are launching asset sales worth roughly $2.5 billion as they seek regulatory clearance for their $66 billion merger, people close to the matter said.

WR 05/31/2016 Great Plains Energy Incorporated (GXP) Special Conditions $12.2 billion $60.00 $54.33 504,149 06/30/2017 10.44% 39.27%
Westar Energy, Inc. merger details:

Expected to close in the spring of 2017 for a closing value of approximately $12.2 billion ina cash plus stock deal. Under the terms of the agreement, Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock, subject to a 7.5 percent collar based upon the Great Plains Energy common stock price at the time of the closing of the transaction, with the exchange ratio for the stock consideration ranging between 0.2709 to 0.3148 shares of Great Plains Energy common stock for each Westar share of common stock, representing a consideration mix of 85 percent cash and 15 percent stock.

Update(s)

September 27, 2016: The KCC issued an order setting a procedural schedule for the application, with a KCC order date of April 24, 2017.  On October 18, 2016, the KCC issued an order stating that, if the KCC staff or other interested parties believe that the joint application does not adequately address the standards by which public utility mergers should be evaluated in Kansas, KCC staff or other interested parties should file for relief, including the potential dismissal of the joint application.

December 20, 2016: The staff of the Kansas Corporation Commission said it couldn't recommend approval of a merger between Great Plains Energy (GXP) and Westar Energy (WR), saying it contains several flaws. We have extended the closing date for this deal to June 30, 2017.

TWX 10/22/2016 AT&T, Inc. (T) Special Conditions $108.7 billion $107.50 $97.51 1,579,561 12/31/2017 10.25% 13.31%
Time Warner Inc. merger details:

Expected to close before year-end 2017 for a closing value of $108.7 billion in a cash plus stock deal. Under the terms of the agreement, Time Warner shareholders will receive $107.50 per share under the terms of the merger, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock. The stock portion will be subject to a collar such that Time Warner shareholders will receive 1.437 AT&T shares if AT&T’s average stock price is below $37.411 at closing and 1.3 AT&T shares if AT&T’s average stock price is above $41.349 at closing.

Update(s)

December 1, 2016: AT&T (T) executives reportedly met with members of Donald Trump’s transition team, which told the telecom company its proposed merger would be scrutinized without prejudice. Executives are apparently confident the deal can pass regulatory review.

December 22, 2016: AT&T (T) announced that it has found a leader for its integration with Time Warner (TWX). The Dallas telecom has chosen Lori Lee, who currently serves as senior executive vice president and global marketing officer.

December 23, 2016: Brean Capital’s Alan Gould mentioned in a note that the arbitrage discount to the AT&T (T) to acquire Time Warner (TWX) has shrunk from the high teens to 12 percent. Gould downgraded the rating on Time Warner from Buy to Hold.

January 6, 2017: Dallas-based AT&T (T) said in a securities filing that it anticipates Time Warner (TWX) will not need to transfer any of its FCC licenses to AT&T, which would likely mean the deal will only need the approval of the U.S. Justice Department. 

January 9, 2017: Time Warner (TWX) invited its stockholders to attend a special meeting of the shareholders of Time Warner that will be held on February 15. The deal could hit a roadblock unless Time Warner shareholders holding at least a majority of the shares outstanding as of the close of January 3, 2017 — the record for the special meeting — vote in favor of the transaction.

February 15, 2017: Time Warner (TWX) shareholders voted in unanimous favor of the company’s proposed $85-billion merger with AT&T (T).

February 23, 2017: Time Warner (TWX) said it plans to sell a broadcast station in Atlanta to Meredith (MDP) for $70 million, which could help speed the company's planned merger with AT&T Inc (T).

February 27, 2017: The new chairman of the Federal Communications Commission said he didn’t expect the agency to have a role in reviewing AT&T (T)’s $85 billion takeover of Time Warner (TWX).

March 15, 2017: The European Union approved AT&T's (T) proposed $85 billion purchase of Time Warner (TWX), saying that it raises no competition concerns in Europe.

AMFW 03/13/2017 John Wood Group Plc (WG.L) Stock $4.3 billion $7.05 $6.50 98,165 12/31/2017 8.46% 10.99%
Amec Foster Wheeler plc merger details:

Expected to close in the second half of 2017 for a closing value of $2.7 billion in an all stock deal. Under the terms of the agreement, each Amec Foster Wheeler Shareholder will receive for each Amec Foster Wheeler Share, 0.75 New Wood Group Shares.

MBVT 10/24/2016 Community Bank System Inc. (CBU) Stock $304 million $51.39 $47.50 8,307 06/30/2017 8.18% 30.78%
Merchants Bancshares Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $304 million. Under the terms of the agreement, shareholders of Merchants Bancshares will have the option to receive, at their election, consideration per share equal to (i) 0.963 shares of Community Bank System common stock, (ii) $40.00 in cash or (iii) the combination of 0.6741 shares of Community Bank System common stock and $12.00 in cash, subject to an overall proration to 70% stock and 30% cash.

NXPI 10/27/2016 QUALCOMM Incorporated (QCOM) Cash $38 billion $110.00 $102.99 2,153,517 12/31/2017 6.81% 8.84%
NXP Semiconductors NV merger details:

Expected to close by the end of 2017 for a closing value of $38 billion. Upon completion of the merger, shareholders of NXP Semiconductors will receive $110 per share in cash.

Update(s)

November 18, 2016: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings, an indirect wholly owned subsidiary of Qualcomm, has commenced the previously announced tender offer for all of the outstanding common shares of NXP Semiconductors (NXPI) at a price of $110.00 per share, less any applicable withholding taxes and without interest, to the holders thereof and payable in cash.

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 River Holdings, an indirect wholly owned subsidiary of QUALCOMM Incorporated (QCOM), to acquire all of the outstanding shares of NXP. 

February 6, 2017: Qualcomm (QCOM) announced that it is extending its cash tender offer for all of the outstanding shares of NXP Semiconductors (NXPI). Qualcomm said the tender offer is now slated to expire March 7.

March 7, 2017: Qualcomm Incorporated (QCOM) announced that it has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI).  The tender offer is now scheduled to expire on April 4, 2017.

SYT 02/03/2016 ChemChina (N/A) Cash $43 billion $93.95 $88.12 444,855 04/28/2017 6.62% 71.02%
Syngenta AG merger details:

Expected to close by the end of the year for a closing value of $43 billion. Under the terms of the agreement, shareholders of Syngenta will receive US$465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon and prior to closing. The offer is equivalent to a Swiss franc value of CHF 480 per share. 

Update(s)

May 23, 2016: An ordinary dividend of up to CHF 11 gross per Common Share for the financial year ended December 31, 2015, and, upon the Offers becoming unconditional, a special dividend of CHF 5 gross per Common Share, in each case, if approved by an ordinary meeting of Syngenta shareholders scheduled to take place on April 26, 2016, will be paid to Syngenta shareholders. The price payable by Purchaser per Common Share or per ADS tendered into the U.S. Offer will not be adjusted as a result of the payment of the Ordinary Dividend and the Special Dividend.

October 28, 2016: European Union antitrust regulators opened an in-depth investigation into state-owned Chinese chemicals group ChemChina's $43 billion bid for Swiss pesticides and seeds group Syngenta (SYT), China's biggest-ever foreign acquisition.

November 1, 2016: ChemChina said it has extended its $43 billion cash offer for Swiss agrichemicals group Syngenta (SYT) to January 5 while it works to gain regulatory approval for the deal.

November 17, 2016: The European Commission pushed back its deadline for a decision on ChemChina's plan to acquire Swiss pesticides and seeds group Syngenta (SYT) by 10 working days to March 29. We have extended the closing date for this deal to April 15, 2017.

December 2, 2016: Reuters noted that ChemChina has put together a fund aimed at raising around $5 billion to help finance its Syngenta (SYT) purchase.

January 3, 2017: European Union antitrust regulators extended the deadline for a decision on ChemChina's proposed buy of Swiss pesticides and seeds group Syngenta (SYT) by 10 working days to April 12.

January 10, 2017: ChemChina and Syngenta (SYT) proposed minor concessions to the EU's competition watchdog to address concerns over their $43 billion merger plan.

January 16, 2017: Syngenta (SYT) Chief Executive Erik Fyrwald said that he expects regulatory approval soon for ChemChina's proposed $43 billion takeover of the Swiss pesticides and seeds group.

January 20, 2017: ChemChina announced that it has sought the U.S. anti-trust regulator's approval for its planned $43 billion acquisition of Swiss crop protection and seed group Syngenta AG (SYT).

February 2, 2017: According to sources, ChemChina is set to secure conditional EU antitrust approval for its $43 billion bid for Syngenta (SYT).

February 8, 2017: ChemChina and Syngenta (SYT) have made significant progress towards achieving the necessary regulatory approvals and closing the transaction. To date approvals have been achieved from 13 regulatory authorities; approvals are still awaited from Brazil, Canada, China, the EU, India, Mexico and the United States. National security clearance has been granted by CFIUS in the United States. ChemChina and Syngenta remain fully committed to the transaction and are confident of its closure.

February 23, 2017: China National Chemical Corporation extended until April 28 its $43 billion tender offer for Swiss pesticides and seeds group Syngenta (SYT).

WGL 01/25/2017 AltaGas Ltd. (N/A) Cash $6.4 billion $88.25 $82.89 294,694 06/30/2018 6.47% 5.11%
WGL Holdings, Inc. merger details:

Expected to close in the second quarter of 2018 for a closing value of $6.4 billion. Upon completion of the merger, sharheolders of WGL Holdings will receive $88.25 per share in cash.

CFCB 01/26/2017 Midland States Bancorp, Inc. (MSBI) Special Conditions $175.1 million $26.75 $25.20 73,248 06/30/2017 6.15% 23.14%
Centrue Financial Corporation merger details:

Expected to close by mid-2017 for a closing value of $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.

LVLT 10/31/2016 CenturyLink, Inc. (CTL) Cash Plus Stock $34 billion $59.01 $56.12 2,331,514 09/30/2017 5.16% 9.96%
Level 3 Communications, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $34 billion in a cash plus stock deal. Under terms of the agreement, Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink stock for each Level 3 share they own.

Update(s)

January 12, 2017: CenturyLink (CTL) refiled its pre-merger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its previously-announced acquisition of Level 3 Communications (LVLT). Each company first filed its HSR notification on December 12, 2016 and, following consultations with the U.S. Department of Justice, Antitrust Division, CenturyLink withdrew its original HSR notification on January 11, 2017.

March 16, 2017: CenturyLink (CTL) and Level 3 Communications (LVLT) announced that shareholders of both companies overwhelmingly approved all proposals related to the companies’ merger.

GLBL 03/07/2017 Brookfield Asset Management Inc. (BAM) Cash $1.3 billion $5.10 $4.85 776,805 12/31/2017 5.15% 6.70%
TerraForm Global, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of TerraForm Global will receive $5.10 per share in cash.

MBLY 03/13/2017 Intel Corporation (INTC) Cash $14.7 billion $63.54 $60.78 10,704,783 12/31/2017 4.54% 5.90%
Mobileye N.V. merger details:

Expected to close in the next nine months for a closing value of $14.7 billion. Upon completion of the merger, shareholders of Mobileye will reeive $63.54 per share in cash.

FBRC 02/21/2017 B. Riley Financial, Inc. (RILY) Cash Plus Stock $160.1 million $18.36 $17.70 20,310 06/30/2017 3.75% 14.11%
FBR & Co. merger details:

Expected to close in the second quarter of 2017 for a closing value of $160.1 million in an all stock deal. Under the terms of the agreement, FBR shareholders will receive .671 shares of B. Riley common stock and an anticipated pre-closing cash dividend of $8.50 per share assuming sufficient funds are available for distribution.

EGAS 10/11/2016 First Reserve Energy Infrastructure (N/A) Cash $196 million $13.10 $12.65 48,096 12/31/2017 3.56% 4.62%
Gas Natural Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $196 million. Upon completion of the merger, shareholders of Gas Natural will receive $13.10 per share in cash.

Update(s)

December 28, 2016: Gas Natural (EGAS) announced that, based on votes cast at the Company's special meeting of shareholders, Gas Natural's shareholders voted to approve the Company's previously announced plan to merge with First Reserve Energy Infrastructure Fund.

SWC 12/09/2016 Sibanye Gold Limited (SBGL) Cash $2.2 billion $18.00 $17.40 841,620 06/30/2017 3.45% 12.98%
Stillwater Mining Company merger details:

Expected to close in the second quarter of 2017 for a closing value of $2.2 billion. Upon completion of the merger, shareholders of Stillwater Mining Companies will receive $18.00 per share in cash.

Update(s)

March 3, 2017: The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC). The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.

The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC).
The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC).The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.

 

DGI 02/24/2017 MacDonald, Dettwiler and Associates Ltd. (MDA.TO) Cash Plus Stock $3.6 billion $33.36 $32.35 474,790 12/31/2017 3.12% 4.05%
DigitalGlobe, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $3.6 billion in a cash plus stock deal. Under the terms of the agreement, each DigitalGlobe common share will be exchanged for US$17.50 in cash and 0.3132 MDA common shares, representing a per share value of US$17.50 based on MDA’s unaffected closing share price of C$73.40 on the Toronto Stock Exchange (TSX) on February 16, 2017.

INVN 12/21/2016 TDK Corporation (TTDKY) Cash $1.3 billion $13.00 $12.61 1,008,355 09/30/2017 3.09% 5.97%
InvenSense, Inc. merger details:

Expected to close in the second quarter of the fiscal year ending March 31, 2018 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of InvenSense will receive $13.00 per share in cash.

HW 11/20/2016 Boral Limited (N/A) Cash $2.6 billion $24.25 $23.53 713,917 06/30/2017 3.06% 11.51%
Headwaters Incorporated merger details:

Expected to close in mid-calendar year 2017 for a closing value of $2.6 billion. Upon completion of the merger, shareholders of Headwaters will receive $24.25 per share in cash.

Update(s)

December 29, 2016: Headwaters (HW) invited its stockholders to attend the Special Meeting of Stockholders of Headwaters Incorporated, which will be held on Friday, February 3, 2017 to approve the merger agreement with Boral Limited and Enterprise Merger Sub.

January 5, 2017: Boral Limited, in consultation with Headwaters Incorporated (HW), voluntarily withdrew its Premerger Notification and Report Form on January 6, 2017, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Headwaters by Boral. Boral plans to re-file the HSR Filing on January 10, 2017 in order to restart the initial waiting period under the HSR Act and to provide the U.S. Federal Trade Commission additional time to review the proposed transaction.

February 3, 2017: Headwaters Incorporated (HW) announced that its stockholders approved the acquisition of Headwaters by Boral Limited at its special meeting of stockholders.

FRP 12/05/2016 Consolidated Communications Holdings, Inc. (CNSL) Stock $1.5 billion $16.97 $16.50 98,553 06/30/2017 2.82% 10.61%
Fairpoint Communications, Inc. merger details:

Expected to close by mid-2017 for for a closing value of $1.5 billion in an all stock deal. Under the terms of the agreement, FairPoint shareholders will receive a fixed exchange ratio of 0.7300 shares of Consolidated Communications common stock for each share of FairPoint common stock.

Update(s)

January 12, 2017: The $1.5B merger of FairPoint Communications (FRP) and Consolidated Communications (CNSL) received its antitrust approval. That came in an early termination notice Thursday from the Federal Trade Commission, which means that neither it nor the Justice Department had issues with the merger that required either conditions or suing to block it, so its Hart-Scott-Rodino antitrust review was terminated early. The merger still needs to get the approval of the FCC, whose review extends beyond antitrust to public interest concerns.

CACQ 12/22/2014 Caesars Entertainment Corporation (CZR) Stock N/A $14.95 $14.55 129,058 03/31/2017 2.75% 167.24%
Caesars Acquisition Company merger details:

Expectes to close in the first quarter of 2015 in an all stock deal. Under the terms of the agreement, each outstanding share of Caesars Acquisition class A common stock will be exchanged for 0.664 share of Caesars Entertainment common stock.

Update(s)

July 11, 2016: Caesars Entertainment (CZR) and Caesars Acquisition (CACQ) amended their proposed merger agreement, which is intertwined with the $18 billion bankruptcy of the casino company's main operating unit. Under the amended terms, Caesars Acquisition shareholders will receive 27 percent of the merged entity. Under the original proposal, they would have received 38 percent, according to regulatory filings. A confirmation hearing for CEOC's Plan of Reorganization has been set for January 17, 2017.

January 16, 2017: We have extended the closing date for this deal to March 31, 2017.

February 21, 2017: Caesars Entertainment Corporation (CZR) and Caesars Acquisition Company (CACQ) announced that they have amended the terms of their proposed merger. Under the terms of the Merger Agreement, as amended, Caesars Acquisition stockholders will receive 1.625 shares of Caesars Entertainment for each Caesars Acquisition share they own, subject to anti-dilution adjustments in certain circumstances set forth in the Merger Agreement, as amended. Closing of the merger is subject to regulatory and stockholder approval, receipt of certain tax opinions and other customary closing conditions.

PCBK 01/09/2017 Columbia Banking System, Inc. (COLB) Stock $644.1 million $24.25 $23.65 144,804 06/30/2017 2.55% 9.61%
Pacific Continental Corporation merger details:

Expected to close by mid-2017 for a closing value of $644.1 million in an all stock deal. Under the terms of the merger agreement, Pacific Continental shareholders are entitled to receive 0.6430 of a share of Columbia common stock for each share of Pacific Continental stock, subject to certain potential adjustments.

SYUT 11/17/2016 Beams Power Investment Limited (N/A) Cash N/A $6.05 $5.90 43,677 04/30/2017 2.54% 25.78%
Synutra International, Inc. merger details:

Under the terms of the agreement, shareholders of Synutra will receive $6.05 per share in cash.

Update(s)

March 9, 2017: Synutra International (SYUT) announced that its Annual Meeting of Shareholders will be held on April 28, 2017.

March 13, 2017: Synutra International (SYUT) announced that it has called a special meeting of its stockholders, to be held on April 28, 2017. We have extended the closing date for this deal to April 30, 2017.

RBPAA 01/30/2017 Bryn Mawr Bank Corporation (BMTC) Stock $127.7 million $3.96 $3.87 10,756 09/30/2017 2.37% 4.57%
Royal Bancshares of Pennsylvania, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $127.7 million in an all stock deal. Under the terms of the Merger Agreement, Class A shareholders of Royal will receive 0.1025 shares of the Corporation’s common stock for each share of Royal’s Class A common stock and Class B shareholders of Royal will receive 0.1179 shares of the Corporation’s common stock for each share of Royal Class B common stock.

OKSB 12/14/2016 Simmons First National Corporation (SFNC) Cash Plus Stock $564.4 million $26.38 $25.85 20,280 09/30/2017 2.06% 3.97%
Southwest Bancorp, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $564.4 million in a cash plus stock deal. Under the terms of the Agreement, each outstanding share of common stock and equivalents of SBI will be converted into the right to receive 0.3903 shares of the Company’s common stock and $5.11 in cash.

Update(s)

March 9, 2017: Southwest Bancorp (OKSB) announced that its Annual Meeting of Shareholders will be held on April 25, 2017.

SCAI 01/09/2017 UnitedHealth Group (UNH) Special Conditions $2.3 billion $57.00 $55.87 N/A 06/30/2017 2.02% 7.61%
Surgical Care Affiliates, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $2.3 billion. The agreement calls for the acquisition of SCA’s outstanding common stock for a fixed price of $57.00 per share, to be funded between 51 percent and 80 percent with UnitedHealth Group common stock, with the final percentage to be determined at UnitedHealth Group’s option and the remainder in cash.

Update(s)

February 13, 2017: The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired  on February 13, 2017 in connection with the proposed acquisition of Surgical Care Affiliates (SCAI) by UnitedHealth Group Incorporated (UNH).

LMOS 02/20/2017 EQT Infrastructure investment strategy (N/A) Cash $950 million $18.00 $17.66 477,795 09/30/2017 1.95% 3.77%
Lumos Networks Corp. merger details:

Expected to close during the third quarter of 2017 for a closing value of $950 million. Upon completion of the merger, shareholders of Lumos Networks will receive $18.00 per share in cash.

FCFP 02/06/2017 First Busey Corporation (BUSE) Cash Plus Stock $235.8 million $12.79 $12.55 21,749 06/30/2017 1.88% 7.09%
First Community Financial Partners, Inc. merger details:

Expected to close by mid-2017 for a closing value of $235.8 million in a cash plus stock deal. Under the terms of the merger agreement, First Community shareholders will receive 0.396 shares of BUSE common stock and $1.35 in cash for each share of FCFP common stock.

AF 03/07/2017 Sterling Bancorp (STL) Stock $2.2 billion $20.65 $20.27 967,411 12/31/2017 1.87% 2.44%
Astoria Financial Corporation merger details:

Expected to close in the fourth quarter of 2017 for a closing value of $2.2 billion in an all stock deal. Under the terms of the agreement, shareholders of Astoria Financial will receive a fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.

fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.

 

MJN 02/10/2017 Reckitt Benckiser Group (N/A) Cash $17.9 billion $90.00 $88.36 1,263,223 09/30/2017 1.86% 3.58%
Mead Johnson Nutrition Company merger details:

Expected to close in the third quarter of 2017 for a closing value of $17.9 billion. Upon completion of the merger, shareholders of Mead Johnson Nutrition Company will receive $90.00 per share in cash.

BRCD 11/02/2016 Broadcom Limited (AVGO) Cash $5.5 billion $12.75 $12.52 3,423,658 10/31/2017 1.84% 3.05%
Brocade Communications Systems, Inc. merger details:

Expected to close in the second half of Broadcom's fiscal year 2017 for a closing value of $5.5 billion. Upon completion of the merger, shareholders of Brocade Communications Systems wil receive $12.75 per share in cash.

Update(s)

January 9, 2017: Broadcom (AVGO) and Brocade (BRCD) submitted filings to grant the Federal Trade Commission a little more time to review their $5.9B merger deal.

January 26, 2017: Brocade Communications (BRCD) confirmed that its shareholders voted in favor of the company's buyout by Broadcom (AVGO).

VAL 03/20/2016 The Sherwin-Williams Company (SHW) Cash $11.3 billion $113.00 $111.00 527,573 06/21/2017 1.80% 7.47%
The Valspar Corporation merger details:

Expected to close in the first quarter of 2017 for a closing value of $11.3 billion. Upon completion of the merger, shareholders of The Valspar Corporation will receive $113 per share in cash. Under the terms of the merger agreement, in what both companies believe to be the unlikely event that divestitures are required of businesses totaling more than $650 million of Valspar's 2015 revenues, the transaction price would be adjusted to $105 in cash per Valspar share.

Update(s)

June 29, 2016: The Valspar Corporation (VAL) announced that Valspar shareholders voted to approve the Company's proposed acquisition by The Sherwin-Williams Company (SHW).

October 29, 2016: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) issued the following statement in response to unfounded market rumors concerning regulatory approvals for the definitive agreement between Sherwin-Williams and Valspar, which was announced on March 20, 2016: Sherwin-Williams and Valspar continue to cooperate fully with the FTC staff and continue to expect the transaction will close by the end of Q1 calendar year 2017.  Given the complementary nature of the businesses and the benefits this transaction will provide to customers, Sherwin-Williams and Valspar continue to believe that no or minimal divestitures should be required to complete the transaction.

December 19, 2016: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) issued the following statement in response to unfounded market rumors concerning regulatory approvals for the definitive agreement between Sherwin-Williams and Valspar, which was announced on March 20, 2016: Sherwin-Williams and Valspar continue to cooperate fully with the FTC staff and continue to expect the transaction will close by the end of Q1 calendar year 2017. Given the complementary nature of the businesses and the benefits this transaction will provide to customers, Sherwin-Williams and Valspar continue to believe that no or minimal divestitures should be required to complete the transaction.

Janaury 26, 2017: Sherwin-Williams (SHW) said it now expects to sell part of its business to complete its acquisition of rival Valspar (VAL).

March 21, 2017: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) announced that they have extended the termination date of the definitive agreement under which Sherwin-Williams will acquire Valspar for $113 per share in an all-cash transaction, from March 21, 2017 to June 21, 2017.

KZ 12/01/2016 Linkedsee Limited and Wiseman International Limited (N/A) Cash $299 million $7.55 $7.42 137,029 03/31/2017 1.75% 106.58%
KongZhong Corporation merger details:

Expected to close for a closing value of $299 million. Under the terms of the Merger Agreement, shareholders of KongZhong will receive $7.55 per share in cash.

Update(s)

March 20, 2017: KongZhong Corporation (KZ) announced that, at an extraordinary general meeting, the Company’s shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger.

LMIA 02/17/2017 Sonaca Group (N/A) Cash $381.47 million $14.00 $13.76 19,989 06/30/2017 1.74% 6.56%
LMI Aerospace, Inc. merger details:

Expected to close by mid-2017 for a closing value of $381.48 million. Upon completion of the merger, shareholders of LMI Aerospace will receive $14.00 per share in cash.

MBRG 10/24/2016 Access National Corporation (ANCX) Stock $233.1 million $37.87 $37.22 24,371 04/15/2017 1.73% 30.12%
Middleburg Financial Corporation merger details:

Expected to close in the second quarter of 2017 for a closing value of $233.1 million in an all stock deal. Under the terms of the merger agreement, Middleburg shareholders will receive a fixed exchange ratio of 1.3314 Access National shares for each share of Middleburg common stock owned.

Update(s)

March 13, 2017: At separate special meetings, shareholders of both Access National Corporation (ANCX) and Middleburg Financial Corporation (MBRG) approved the agreement pursuant to which Access will merge with Middleburg. The parties expect the mergers to close in early April 2017.

WOOF 01/07/2017 Mars, Incorporated (N/A) Cash $9.1 billion $93.00 $91.50 780,098 09/30/2017 1.64% 3.17%
VCA Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $9.1 billion. Upon completion of the merger, shareholders of VCA will receive $93.00 per share in cash.

Update(s)

February 15, 2017: VCA invited its shareholders to attend a special meeting of the stockholders on March 28, 2017.

AWH 12/18/2016 Fairfax Financial Holdings Limited (FFH.TO) Special Conditions $4.9 billion $54.00 $53.14 341,403 06/30/2017 1.62% 6.09%
Allied World Assurance Company Holdings merger details:

Expected to close in the second quarter of 2017 for a closing value of $4.9 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Allied World will receive cash and stock for a total value of $54.00 per Allied World share. The cash portion of the deal is $10, half of which will be paid as a  pre-closing dividend. The share portion of the deal is worth approximately $44.00 in Fairfax Shares and is subject to collars based on the price of Fairfax. Fairfax also has the option to covert $30 of the share portion into a cash offer.

A portion of the stock consideration, having a value of $14.00 based on the closing price of Fairfax Shares as of December 16, 2016, is payable at a fixed exchange ratio of 0.030392. The remaining portion of the stock consideration to Allied World will be a number of Fairfax Shares with a value equal to $30.00, with such number of Fairfax Shares determined based on the volume weighted average closing price of Fairfax Shares for the 20 trading days ending on the day prior to closing (provided that this volume weighted average price is no less than $435.65 and no greater than $485.65 per share, $25.00 below and above the Fairfax Closing Price, respectively). If the volume weighted average price of Fairfax Shares during this period is above $485.65, the stock portion of the consideration will be fixed at 0.061772 Fairfax Shares for each share of Allied World, and if it is below $435.65 per share, the stock portion of the consideration will be fixed at 0.068862 Fairfax Shares for each share of Allied World.  Additionally, on or before 75 days after the date of the Agreement, Fairfax has the option to replace on a dollar-for-dollar basis this portion of the stock consideration with cash in an amount up to $30.00 per Allied World Share, together with the dividend, for up to a total cash consideration of $40.00 per Allied World Share.  Fairfax may elect to fund the $30.00 in cash by an equity or debt issuance or by bringing in third party partners.

Given the complexity of the deal, we have entered this deal as a "Special Conditions" deal with a value of $54.

Update(s)

March 3, 2017: Fairfax Financial Holdings Limited (FFH.TO) and Allied World Assurance Company Holdings (AWH) announced that they have agreed to extend to March 10, 2017 the deadline by which Fairfax has the option to increase the cash consideration, and correspondingly reduce the “Fixed Value Stock Consideration” under the terms of the previously announced definitive merger agreement. In connection with the transaction, Allied World will hold a Special Shareholder Meeting on Wednesday, March 22, 2017.

March 10, 2017: Fairfax Financial Holdings Limited (FFH.TO) and Allied World Assurance Company Holdings (AWH) announced that Fairfax has exercised its option to increase the cash consideration component of its offer to Allied World shareholders by $18.00 out of a possible increase of $30.00 per ordinary share. As a result, the cash consideration component of the offer will increase from $5.00 per ordinary share to $23.00 per ordinary share, together with the $5.00 special dividend that, subject to Allied World shareholder approval, will be payable in connection with the transaction, for total cash consideration of $28.00 per Allied World ordinary share.

March 22, 2017: Allied World Assurance Company Holdings (AWH) announced that its shareholders have approved both of the proposals that were voted on at the company’s special shareholder meeting held in connection with the previously announced merger transaction with Fairfax Financial Holdings Limited.

FIG 02/14/2017 SoftBank Group Corp. (SFTBY) Cash $3.3 billion $8.08 $7.97 1,629,856 12/31/2017 1.38% 1.79%
Fortress Investment Group LLC merger details:

Expected to close in the second half of 2017 for a closing value of $3.3 billion. Upon completin of the merger, shareholders of Fortress Investment Group will receive $8.08 per share in cash.

The Merger Agreement also provides that the Company's shareholders may also receive up to two regular quarterly dividends prior to the closing, each in an amount not to exceed $0.09 per Class A share. There are no appraisal or dissenters' rights available with respect to the Merger.

Update(s)

February 27, 2017: Fortress (FIG) declared a base quarterly cash dividend of $0.09 per Class A share for the fourth quarter of 2016. This dividend is payable on March 21, 2017 to holders of record of Class A shares on March 15, 2017. In connection with the proposed Merger, the company said that they have contractually agreed that they will not pay dividends for the quarterly period ended March 31, 2017 in any amount greater than $0.09 per share, and that they will not pay any dividends with respect to periods ending after that while the Merger Agreement remains in effect. Fortress Class A shareholders should therefore not anticipate receiving a dividend with respect to the quarterly periods ended June 30, 2017 or September 30, 2017, even if the Merger has not yet been consummated at the time of the customary dividend payment dates for such periods.

SGM 01/26/2017 Home Point Financial Corporation (N/A) Cash $211 million $8.00 $7.90 36,256 06/30/2017 1.27% 4.76%
Stonegate Mortgage Corporation merger details:

Expected to close by the end of the second quarter of 2017 for a closing value of $211 million. Upon completion of the merger, shareholders of Stonegate Mortgage Corporation will receive $8.00 per share in cash.

Update(s)

March 13, 2017: Stonegate Mortgage Corporation (SGM) announced that it has set a date for a special meeting of its stockholders to consider and vote on a proposal to adopt the previously announced merger agreement which provides for the acquisition of Stonegate Mortgage by Home Point Financial Corporation. The special meeting is scheduled to be held on April 27, 2017.

ZLTQ 02/13/2017 Allergan plc (AGN) Cash $2.475 billion $56.50 $55.80 1,127,052 12/31/2017 1.25% 1.63%
ZELTIQ Aesthetics, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $2.475 billion. Upon completion of the merger, shareholders of ZELTIQ Aesthetics will receive $56.50 per share in cash.

WWAV 07/07/2016 Danone (N/A) Cash $12.5 billion $56.25 $55.60 1,211,428 03/31/2017 1.17% 71.12%
The WhiteWave Foods Company merger details:

Expected to close by the end of the year for a closing value of $12.5 billion. Upon completion of the merger, shareholders of The WhiteWave Foods will receive $56.25 per share in cash.

Update(s)

October 5, 2016: The WhiteWave Foods Company (WWAV) announced that during a special stockholder meeting, the stockholders of the company approved the merger agreement under which Danone S.A. will acquire all of the outstanding shares of WhiteWave. Stockholders also approved other proposals relating to the merger.

November 9, 2016: In their Q3 earnings release, WhiteWave Food company (WWAV) said that they expect the closing of their merger with Danone S.A. to occur in the first quarter of 2017.

November 22, 2016: The WhiteWave Foods Company (WWAV) announced that holders of a majority in aggregate principal amount of its outstanding $500,000,000 5.375% Senior Notes due 2022 have delivered valid consents in connection with the Company’s previously announced consent solicitation for certain proposed amendments to the indenture governing the 2022 Notes.

December 16, 2016: The European Commission cleared France's Danone to proceed with its $10.4 billion purchase of U.S. organic food producer WhiteWave (WWAV), subject to it selling a business in Belgium.

January 6, 2017: The WhiteWave Foods Company (WWAV) announced that in accordance with the Merger Agreement, each of the Company and Danone has elected to extend the Long Stop Date under the Merger Agreement by 90 days to facilitate the completion of review of the transaction by the United States Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act. The Company continues to expect closing to occur in first quarter 2017, though there can be no assurance regarding timing of completion of regulatory processes.

NSR 12/14/2016 private investment group led by Golden Gate Capital (N/A) Cash $2.9 billion $33.50 $33.15 178,192 09/30/2017 1.06% 2.04%
NeuStar, Inc. merger details:

Expected to close in the third calendar wuarter of 2017 for a closing value of approximately $2.9 billion. Upon completion of the merger, shareholders of NeuStar will receive $33.50 per share in cash.

Update(s)

March 15, 2017: Neustar (NSR) announced that Neustar stockholders voted to approve the previously announced definitive merger agreement pursuant to which a private investment group led by Golden Gate Capital will acquire Neustar. 

OKS 02/01/2017 ONEOK, Inc. (OKE) Stock $17.2 billion $52.30 $51.79 632,186 06/30/2017 0.99% 3.73%
ONEOK Partners, L.P. merger details:

Expected to close in the second quarter of 2017 for a closing value of $17.2 billion in an all stock deal. Under the terms of the agreement, each outstanding common unit of ONEOK Partners that ONEOK does not already own will be converted into 0.985 shares of ONEOK common stock.

CHMT 09/26/2016 LANXESS AG (N/A) Cash $2.5 billion $33.50 $33.20 207,711 06/30/2017 0.90% 3.40%
Chemtura Corporation merger details:

Expected to close by mid-2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Chemtura Corporation will receive $33.50 per share in cash.

Update(s)

December 23, 2016: Chemtura Corporation (CHMT) announced that it will hold a special meeting of our stockholders in connection with the proposed merger on February 1, 2017.

February 1, 2017: Chemtura Corporation (CHMT) announced that at a special meeting of stockholders, Chemtura stockholders voted to approve and adopt the previously announced merger agreement with LANXESS Deutschland.

CFNL 08/18/2016 United Bankshares, Inc. (UBSI) Stock $912 million $29.04 $28.79 91,150 06/30/2017 0.86% 3.25%
Cardinal Financial Corp. merger details:

Expected to close by mid-2017 for a closing value of $912 million in an all stock deal. Under the terms of the agreement, shareholders of Cardinal Financial will receive 0.71 of United’s shares for each share of Cardinal.

WNR 11/17/2016 Tesoro Corporation (TSO) Stock $6.4 billion $34.92 $34.66 1,506,557 06/30/2017 0.76% 2.84%
Western Refining, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $6.4 billion in an all stock deal. Under the terms of the agreement, Western shareholders can elect to receive 0.4350 shares of Tesoro for each share of Western stock they own, or $37.30 in cash per share of Western stock, up to a cap of 10% of the equity consideration. Because 90% of the consideration will be paid out in stock we are going to treat this as an all stock deal.

Update(s)

December 8, 2016: Tesoro (TSO) and Western Refining (WNR) filed their respective notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with the Antitrust Division of the Department of Justice  and the United States Federal Trade Commission, which triggered the start of the HSR Act waiting period. The statutory waiting period was originally scheduled to expire on January 9, 2017. Effective January 9, 2017, as permitted by the Merger Agreement, Tesoro voluntarily withdrew its HSR Act notification to provide the FTC an extension beyond the initial 30-day HSR Act waiting period to conduct its review. On January 11, 2017, Tesoro re-filed its HSR Act notification with the FTC and DOJ. The new waiting period under the HSR Act will expire on February 10, 2017, unless the DOJ or FTC grants early termination of the HSR Act waiting period or formally requests additional information concerning the Merger.

MEP 01/26/2017 Enbridge Inc. (ENB) Cash $170.2 million $8.00 $7.95 91,447 06/30/2017 0.63% 2.37%
Midcoast Energy Partners, L.P. merger details:

Expected to close in the second quarter of 2017 for a closing value of $170.2 million. Upon completion of the merger, shareholders of Midcoast Energy Partners will receive $8.00 per share in cash.

DGAS 02/21/2017 Peoples Natural Gas (N/A) Cash $227 million $30.50 $30.31 6,937 12/31/2017 0.63% 0.81%
Delta Natural Gas Company, Inc. merger details:

Expected to close by the end of 2017 for a closing value of $227 million. Upon completion of the merger, shareholders of Delta Natural Gas will receive $30.50 per share in cash.

CST 08/22/2016 Alimentation Couche-Tard Inc. (N/A) Cash $4.4 billion $48.53 $48.25 356,531 03/31/2017 0.58% 35.30%
CST Brands, Inc. merger details:

Expected to close early calendar year 2017 for a closing value of $4.4 billion. Upon completion of the merger, shareholders of CST Brands will receive $48.53 per share in cash.

Update(s)

October 11, 2016: On August 30, 2016, Circle K filed with the commissioner a request for an Advance Ruling Certificate or no-action letter. Circle K and CST filed their notifications with the commissioner on or before September 7, 2016, commencing the applicable waiting period from that date. On October 7, 2016, the commissioner issued supplementary information requests to each of Circle K and CST, thereby extending the waiting period until 30 days after both Circle K and CST comply with the supplementary information requests.

November 16, 2016: The Company received a request for additional information and documentary material from the United States Federal Trade Commission with respect to the pending acquisition of the Company by Alimentation Couche-Tard. Accordingly, the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, will expire 30 days after substantial compliance with the Second Request has been certified by all parties to the transaction that received a Second Request, unless that period is extended by court order or terminated earlier by the FTC.

December 9, 2016: CST Brands (CST) stockholders approved the merger agreement with one of the Alimentation Couche-Tard Inc.´s wholly owned U.S. subsidiaries.

ETP 11/21/2016 Sunoco Logistics Partners L.P. (SXL) Stock $19.93 billion $36.02 $35.83 1,827,428 03/31/2017 0.52% 31.41%
Energy Transfer Partners, L.P. merger details:

Expected to close in the first quarter of 2017 for a closing value of $19.93 billionin an all stock deal. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own.

ALJ 01/03/2017 Delek US Holdings, Inc. (DK) Stock $1.27 billion $12.18 $12.12 585,261 06/30/2017 0.51% 1.91%
Alon USA Energy, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $1.27 billion in an all stock deal. Under terms of the agreement, the owners of the remaining outstanding shares in Alon that Delek US does not currently own will receive a fixed exchange ratio of 0.5040 Delek US shares for each share of Alon.

MPSX 01/24/2017 WestRock Company (WRK) Cash $2.28 billion $18.00 $17.92 94,697 06/30/2017 0.45% 1.68%
Multi Packaging Solutions International Limited merger details:

Expected to close in WestRock's third quarter fiscal 2017 for a closing value of $2.28 billion. Upon completion of the merger, shareholders of Multi Packaging Solutions will receive $18.00 per share in cash.

Update(s)

March 3, 2017: Multi Packaging Solutions (MPSX) invited its shareholders to attend a special general meeting of shareholders of Multi Packaging Solutions to be held on April 5, 2017.

GTWN 10/06/2016 Salem Five Bancorp (N/A) Cash $49.2 million $26.00 $25.89 500 03/31/2017 0.43% 26.13%
Georgetown Bancorp Inc. merger details:

Expected to close in the first quarter of 2017 for a closing value of $49.2 million. Upon completion of the merger, shareholders of Georgetown Bancorp will receive $26.00 per share in cash.

Update(s)

January 3, 2017: Georgetown Bancorp (GTWN) invited its shareholders to attend a special meeting of stockholders that will be held at the headquarters of Georgetown Bancorp on February 13, 2017.

JOY 07/21/2016 Komatsu America Corp. (N/A) Cash $3.7 billion $28.30 $28.19 409,028 06/30/2017 0.39% 1.47%
Joy Global, Inc. merger details:

Expected to close in mid-2017 for a closing value of $3.7 billion. Upon completion of the merger, shareholders of Joy Global will receive $28.30 per share in cash.

Update(s)

October 19, 2016: Joy Global (JOY) said that the company’s shareholders have overwhelmingly approved the proposed $3.7 billion acquisition of the Milwaukee surface and underground mining equipment maker by the U.S. unit of Japan’s Komatsu Ltd.

GIG 02/13/2017 Integrated Device Technology, Inc. (IDTI) Cash $250 million $3.08 $3.07 243,593 06/30/2017 0.33% 1.23%
GigPeak, Inc. merger details:

Expected to close during the second calendar quarter of 2017 for a closing value of $250 million. Upon completion of the merger, shareholders of GigPeak will receive $3.08 per share in cash.

Update(s)

March 7, 2017: Integrated Device Technology (IDTI) announced that its wholly-owned subsidiary, Glider Merger Sub, is commencing a cash tender offer to purchase all outstanding shares of common stock of GigPeak (GIG) at an offer price of $3.08 per share.

UTEK 02/02/2017 Veeco Instruments Inc. (VECO) Cash Plus Stock $550 million $29.44 $29.35 115,944 06/30/2017 0.31% 1.16%
Ultratech, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $550 million in a cash plus stock deal. Under the terms of the agreement, Ultratech shareholders will receive (i) $21.75 per share in cash and (ii) 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding.

HEOP 12/13/2016 Pacific Premier Bancorp, Inc. (PPBI) Stock $405.6 million $12.63 $12.60 111,741 06/30/2017 0.27% 1.03%
Heritage Oaks Bancorp merger details:

Expected to close in the second quarter of 2017 for a closing value of $405.6 million in an all stock deal. Under the terms of the definitive agreement, upon consummation of the transaction, holders of Heritage Oaks common stock will have the right to receive 0.3471 shares of Pacific Premier common stock for each share of Heritage Oaks common stock they own.

Update(s)

March 21, 2017: Pacific Premier Bancorp (PPBI) announced that it has received the required regulatory approvals from the Board of Governors of the Federal Reserve System and the California Department of Business Oversight for its acquisition of Heritage Oaks Bancorp (HEOP). Pacific Premier expects that the Heritage Oaks acquisition will close late in the first quarter or early in the second quarter of 2017.

XXIA 01/30/2017 Keysight Technologies, Inc. (KEYS) Cash $1.6 billion $19.65 $19.60 1,999,835 10/31/2017 0.26% 0.42%
Ixia merger details:

Expected to close no later than the end of October 2017 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of Ixia will receive $19.65 per share in cash.

SCNB 06/26/2016 People's United Financial Inc. (PBCT) Stock $402 million $40.14 $40.04 63,319 03/31/2017 0.25% 15.04%
Suffolk Bancorp merger details:

Expected to close in the fourth quarter of 2016 for a closing value of $402 million in an all stock deal. Under the terms of the agreement, shareholders of Suffolk Bancorp will receive 2.225 shares of People's United Financial stock for each Suffolk Bancorp share.

Update(s)

January 16, 2017: We have extended the closing date for this deal to March 31, 2017.

NMBL 03/06/2017 Hewlett Packard Enterprise Company (HPE) Cash $1.09 billion $12.50 $12.47 2,525,993 04/30/2017 0.24% 2.44%
Nimble Storage, Inc. merger details:

Expected to close in April, 2017 for a closing value of $1 billion. Upon completion of the merger, shareholders of Nimble Storage will receive $12.50 per share in cash. In addition to the purchase price, HPE will assume or pay out Nimble’s unvested equity awards, with a value of approximately $200 million at closing.

UAM 11/17/2016 WellCare Health Plans, Inc. (WCG) Cash $800 million $10.00 $9.98 118,295 06/30/2017 0.20% 0.75%
Universal American Corp merger details:

Expected to close in the second quarter of 2017 for a closing value of $800 million. Upon completion of the merger, shareholders of Universal American Corp will receive $10.00 per share in cash.

Update(s)

January 4, 2017: WellCare Health Plans (WCG) and Universal American Corp. (UAM) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) for WellCare’s proposed acquisition of Universal American Corp.

January 17, 2016: Universal American Corp (UAM) announced that it will hold a special meeting of our stockholders in connection with the proposed merger on February 16, 2017.

February 17, 2017: Universal American (UAM) announced that during a special stockholder meeting, its stockholders voted to approve the adoption of the previously announced merger agreement, dated as of November 17, 2016, providing for the acquisition of Universal American by WellCare Health Plans (WCG).

EVER 08/08/2016 TIAA (N/A) Cash $2.5 billion $19.50 $19.47 269,696 06/30/2017 0.15% 0.58%
EverBank Financial Corp. merger details:

Expected to close in the first half of 2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of EverBank Financial will receive $19.50 per share in cash.

Update(s)

November 9, 2016: EverBank Financial (EVER) announced that the Company’s stockholders voted to approve its acquisition by Teachers Insurance and Annuity Association of America (TIAA) at a special stockholder meeting.

EVBS 12/13/2016 Southern National Bancorp of Virginia, Inc. (SONA) Stock $178.3 million $10.44 $10.42 3,678 06/30/2017 0.15% 0.56%
Eastern Virginia Bankshares, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $178.3 million in an all stock deal. Under the terms of the agreement, Eastern Virginia common and preferred shareholders will receive a fixed exchange ratio equal to 0.6313 shares of Southern National common stock for each share of Eastern Virginia common stock or preferred stock owned.

Update(s)

February 23, 2017: The Eastern Virginia Bankshares (EVBS) Board of Directors decided to postpone the 2017 Annual Meeting of Shareholders because of the pending transactions contemplated by the Merger Agreement, which are expected to close in the second quarter of 2017.

CEB 01/05/2017 Gartner, Inc. (IT) Cash Plus Stock $3.3 billion $78.91 $78.80 377,578 06/30/2017 0.14% 0.52%
CEB Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $3.3 billion in a cash plus stock deal. Under the terms of the agreement, CEB shareholders will receive $54.00 in cash and 0.2284 shares of Gartner common stock for each share of CEB common stock they own.

MENT 11/14/2016 Siemens AG (N/A) Cash $4.5 billion $37.25 $37.20 609,364 06/30/2017 0.13% 0.51%
Mentor Graphics Corp. merger details:

Expected to close in the second quarter of 2017 for a closing value of $4.5 billion. Upon completion of the merger, shareholders of Mentor Graphics will receive $37.25 per share in cash.

Update(s)

February 23, 2017: Mentor Graphics (MENT) and Siemens Industry, received clearance by the Korea Fair Trade Commission under the Monopoly Regulation and Fair Trade Act to complete the pending acquisition of the Company by Parent pursuant to the Agreement and Plan of Merger.

MPG 11/03/2016 American Axle & Manufacturing Holdings Inc. (AXL) Cash Plus Stock $3.3 billion $22.81 $22.80 456,310 06/30/2017 0.04% 0.17%
Metaldyne Performance Group Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $3.3 billion in a cash plus stock deal. Under the terms of the agreement, each share of MPG's common stock will be converted into the right to receive $13.50 per share in cash and 0.5 share of AAM common stock.

Update(s)

March 6, 2017: Metaldyne Performance Group (MPG) announced that it will hold a special meeting of its stockholders on April 5, 2017.

ENH 10/05/2016 SOMPO Holdings, Inc (N/A) Cash $6.3 billion $93.00 $92.97 1,651,737 03/31/2017 0.03% 1.96%
Endurance Specialty Holdings Ltd. merger details:

Expected to close before the end of SOMPO's current fiscal quarter year end, which is March 31, 2017 for a closing value of approximately $6.3 billion. Upon completion of the merger, shareholders of Endurance Specialty Holdings will receive $93.00 per share in cash.

Update(s)

December 6, 2016: Endurance Specialty Holdings (ENH) announced that it has scheduled a special general meeting of its shareholders to seek approval for the acquisition of 100% of the outstanding ordinary shares of Endurance by SOMPO Holdings, Inc. The Endurance special general meeting will be held on Friday, January 27, 2017. 

January 27, 2017: Shareholders of Endurance Specialty Holdings (ENH) voted to approve the acquisition of Endurance Specialty Holdings by SOMPO Holdings.

PLKI 02/21/2017 Restaurant Brands International Inc. (QSR) Cash $1.8 billion $79.00 $78.98 1,336,445 04/15/2017 0.03% 0.44%
Popeyes Louisiana Kitchen, Inc. merger details:

Expected to close by early April 2017 for a closing value of $1.8 billion. Upon completion of the merger, shareholders of Poopeyes Louisiana Kitchen will receive $79.00 per share in cash.

BNCN 01/23/2017 Pinnacle Financial Partners, Inc. (PNFP) Stock $1.9 billion $33.40 $33.55 183,730 09/30/2017 -0.45% -0.87%
BNC Bancorp merger details:

Expected to close in the third quarter of 2017 for a closing value of $1.9 billion 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.

AIRM 03/14/2017 American Securities LLC (N/A) Cash $2.5 billion $43.00 $43.20 4,164,881 06/30/2017 -0.46% -1.74%
Air Methods Corporation merger details:

Expected to close by the end of the second calendar quarter of 2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Air Methods will receive $43.00 per share in cash.

SBY 02/27/2017 Tricon Capital Group Inc. (N/A) Cash $1.4 billion $21.50 $21.62 369,453 06/30/2017 -0.56% -2.09%
Silver Bay Realty Trust Corp. merger details:

Expected to close in the second quarter of 2017 for a closing value of $1.4 billion. Upon completion of the merger, shareholders of Silver Bay will receive $21.50 per share in cash.

CWEI 01/17/2017 Noble Energy, Inc. (NBL) Cash Plus Stock $3.2 billion $126.23 $128.02 74,631 06/30/2017 -1.40% -5.25%
Clayton Williams Energy, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $3.2 billion in a cash plus stock deal. Under the terms of the agreement, Clayton Williams Energy shareholders will receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held. While the aggregate amount of cash and stock in the transaction will not change, on an individual basis shareholders will be able to elect to receive cash or stock, subject to proration.

Update(s)

March 13, 2017: Clayton Williams Energy (CWEI) announced that it has established a record date of March 23, 2017, and a meeting date of April 24, 2017, for a special meeting of its stockholders.

FGL 11/09/2015 Anbang Insurance Group Co., Ltd. (N/A) Cash N/A $26.80 $27.45 204,023 06/30/2017 -2.37% -8.91%
Fidelity & Guaranty Life Common merger details:

Expected to close in the second quarter of 2016. Upon completion of the merger, shareholders of Fidelity and Guaranty Life will receive $26.80 per share in cash.

Update(s)

June 2, 2016: Anbang withdrew its application to buy Fidelity & Guaranty Life (FGL) after failing to provide information requested for processing the deal. Anbang will try a second time with a "refiled acquisition application" to the New York regulator.

August 22, 2016: According to FGL's Quarterly Report filed on August 2, 2016, Anbang continues to work on securing the required regulatory approvals and the parties are committed to securing such approvals, however, the closing of the FGL Merger, and the timing thereof, is subject to the regulatory review and approval process. In the event that the Merger Agreement is terminated, FGL may be required to pay a termination fee to Anbang and its subsidiaries of $51. We have made this deal Active again.

November 3, 2016: Anbang, Parent and Merger Sub amended the Merger Agreement with Fidelity & Guaranty Life (FGL) by extending the Outside Termination Date from November 7, 2016 to February 8, 2017.

February 9, 2017: Fidelity & Guaranty Life (FGL) entered into Amendment No. 2 to Agreement and Plan of Merger with Anbang by extending the Outside Termination Date from February 8, 2017 to April 17, 2017. Under the terms of Amendment No. 2, the Outside Termination Date will be further extended to May 31, 2017 in the event that the Iowa Insurance Commissioner has, on or prior to April 17, 2017, publicly noticed a public hearing for the “Form A” change of control approval required by the Iowa Insurance Division. We have extended the closing date to June 30, 2017.

BEAV 10/23/2016 Rockwell Collins (COL) Special Conditions $8.3 billion $62.00 $63.94 1,918,010 03/31/2017 -3.03% -184.57%
B/E Aerospace Inc. merger details:

Expected to close in the spring of 2017 for a closing value of $8.3 billion in a cash plus stock deal. Under the terms of the agreement, each B/E Aerospace shareowner will receive total consideration of $62.00 per share, comprised of $34.10 per share in cash and $27.90 in shares of Rockwell Collins common stock, subject to a 7.5% collar. If the volume weighted average price of Rockwell Collins common stock during this period is above $89.97, the stock portion of the consideration will be fixed at 0.3101 shares of Rockwell Collins common stock for each share of B/E Aerospace, and if it is below $77.41 per share, the stock portion of the consideration will be fixed at 0.3604 shares of Rockwell Collins common stock for each share of B/E Aerospace.

Update(s)

March 9, 2017: B/E Aerospace (BEAV) announced that B/E Aerospace stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger by and among B/E Aerospace and Rockwell Collins (COL) at a special meeting of stockholders held on March 9, 2017.

GNVC 01/24/2017 Intrexon Corporation (XON) Stock $6.3 million $5.68 $6.12 55,104 06/30/2017 -7.11% -26.77%
GenVec, Inc. merger details:

Expected to close in the second quarter of 2017 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.

PVTB 06/29/2016 Canadian Imperial Bank of Commerce (CM) Cash Plus Stock $3.8 billion $50.50 $55.51 430,690 03/31/2017 -9.03% -549.17%
PrivateBancorp, Inc. merger details:

Expected to close in the first calendar quarter of 2017 for a closing value of $3.8 billion in a cash plus stock deal. Under the terms of the agreement, CIBC will pay US$18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock.

Update(s)

December 7, 2016: PrivateBancorp (PVTB) postponed a shareholder vote due Thursday on a proposed takeover by Canadian Imperial Bank of Commerce (CM), raising doubts about whether the deal will proceed.

January 18, 2017: PrivateBancorp (PVTB) announced that they continue to work toward the successful completion of their proposed merger with CIBC. The long-term strategic benefits of the transaction remain compelling. They will announce the rescheduled stockholder meeting date when it is established by their Board of Directors.

February 23, 2017: Canadian Imperial Bank of Commerce (CM) said that it would be "disciplined" in assessing whether to raise its C$3.8 billion ($2.9 billion) offer for Chicago-based PrivateBancorp (PVTB) and could buy back shares if the deal collapses.

March 6, 2017: PrivateBancorp (PVTB) announced that it has set a new record date for its special meeting of stockholders to consider and act upon the Agreement and Plan of Merger by and among PrivateBancorp, Canadian Imperial Bank of Commerce and CIBC Holdco. PrivateBancorp stockholders of record at the close of business on March 31, 2017, will be entitled to receive the notice of, and to vote at, the PrivateBancorp special meeting. The PrivateBancorp special meeting is currently expected to be held on or about May 4, 2017.

ISLE 09/19/2016 Eldorado Resorts, Inc. (ERI) Cash $1.7 billion $23.00 $25.45 97,408 06/30/2017 -9.63% -36.22%
Isle of Capri Casinos, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $1.7 billion in a cash or stock deal. Under the terms of the agreement, Eldorado will acquire all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock. Elections are subject to proration such that the outstanding shares of Isle common stock will be exchanged for aggregate consideration comprised of 58% cash and 42% Eldorado common stock.

Update(s)

December 15, 2016: Eldorado Resorts (ERI) announced that it received approval from the West Virginia Lottery Commission for its pending acquisition of Isle of Capri Casinos (ISLE).

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.

MGI 01/26/2017 Ant Financial Services Group (N/A) Cash $880 million $13.25 $16.66 461,553 12/31/2017 -20.47% -26.59%
MoneyGram International, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $880 million. Upon completion of the merger, shareholders of MoneyGram International will receive $13.25 per share in cash.

Update(s)

March 14, 2017: MoneyGram (MGI), confirmed that it has received an unsolicited proposal from Euronet Worldwide (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis.

March 17, 2017: Ant Financial Services Group said that it is confident of closing a deal for MoneyGram International (MGI), despite a higher bid from a U.S. rival.

March 20, 2017: MoneyGram (MGI) announced that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis could reasonably be expected to result in a "Company Superior Proposal" as defined in MoneyGram's merger agreement with Ant Financial Services Group.

RAI 01/17/2017 British American Tobacco p.l.c. (BTI) Cash Plus Stock $49.4 billion $46.69 $62.64 3,830,457 09/30/2017 -25.47% -49.18%
Reynolds American Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $49.4 billion in a cash plus stock deal. Under the terms of the agreement, BAT will acquire the 57.8% of RAI common stock that BAT does not currently own for $29.44 per share in cash and a number of BAT American Depositary Shares (ADS) representing 0.5260 of a BAT ordinary share. Each ADS represents two ordinary shares.

Update(s)

March 9, 2017: Reynolds American (RAI) and British American Tobacco (BTI) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement. Both companies continue to expect the transaction to close in the third quarter of 2017.

Reynolds American (RAI) and British American Tobacco (BAT) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement.
Both companies continue to expect the transaction to close in the third quarter of 2017.Reynolds American (RAI) and British American Tobacco (BAT) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement.Both companies continue to expect the transaction to close in the third quarter of 2017.

 

Note: You can sort this table by Profit, Annualized Profit and Closing Date. Desktop Version

  Symbol Clo. Date Profit Annu. Profit
ALR 03/31/2017 43.11% 2622.69%
Alere Inc. merger details:

Expected to close before the end of the year after the approval of Alere shareholders and the satisfaction of customary closing conditions for a closing value of $5.8 billion. Upon completion of the merger, shareholders of Alere will receive $56.00 per share in cash.

Update(s)
April 29, 2016: Alere (ALR) rejected Abbott Laboratories's (ABT) attempt to end its $5.8 billion pending acquisition of the company.

Update(s)

April 29, 2016: Alere (ALR) rejected Abbott Laboratories's (ABT) attempt to end its $5.8 billion pending acquisition of the company.

July 27, 2016: Alere received a U.S. Department of Justice subpoena regarding government-billing practices. The company released a statement claiming that the billing concerned "accounted for significantly less than 1% of Alere's total revenues" and is not material. 

August 26, 2016: Alere (ALR) issued a statement saying it’s suing the company it’s hoping to merge with, Abbott Laboratories (ABT). Alere said in a statement that it filed the complaint Thursday in Delaware Chancery Court hoping “to compel Abbott to fulfill its obligations under the terms of the merger agreement to take all actions necessary to promptly obtain all required anti-trust approvals.”

September 2, 2016: Representatives for Alere said that a Delaware judge granted a motion to expedite Alere's (ALR) lawsuit against Abbott Laboratories (ABT), which seeks to ensure that Abbott lives up to the terms of its $5.8 billion takeover of the diagnostics company.

September 8, 2016: Abbott Laboratories (ABT) and Alere (ALR) agreed to work with a mediator to settle their dispute over Abbott's role in obtaining U.S. antitrust clearance for its $5.8 billion takeover of the diagnostics company.

September 26, 2016: Alere said that mediation efforts between Abbott Laboratories (ABT) and Alere (ALR) have broken down. With the failure of the talks, Alere will likely proceed with a lawsuit in the Delaware Court of Chancery where it it trying to force Abbott to complete its $5.6 billion purchase of Alere.

October 21, 2016: Alere (ALR) announced that its shareholders have voted to approve the previously announced merger with Abbott (ABT). 

November 5, 2016: Abbott Laboratories (ABT) launched a lawsuit against Alere (ALR) for having not complying with the certain conditions contained in the $7.9 billion agreement.

December 7, 2016: Alere (ALR), issued a statement in response to a lawsuit filed by Abbott Laboratories (ABT) in the Delaware Court of Chancery to terminate Abbott's pending merger agreement with Alere. On December 8, 2016, Abbott Laboratories fired the latest salvo in its legal battle with Alere over their $5.8 billion buyout agreement, suing the troubled Waltham diagnostics firm in an effort to terminate the deal.

December 30, 2016: Arriva Medical, a Florida-based subsidiary of Alere (ALR), filed an appeal with the the Centers for Medicare and Medicaid Services on Wednesday seeking to reinstate its enrollment. The Medicare dispute is one reason why Abbott Laboratories (ABT) is currently seeking to terminate its February buyout of Alere. The companies have sued one another in Delaware court, with Alere arguing that the $5.8 billion deal should go forward.

January 4, 2017: Alere (ALR) provided an update in connection with Arriva Medical's complaint filed on December 28, 2016, against the Centers for Medicare & Medicaid Services. We have extended the closing date for this deal to March 31, 2017.

January 25, 2017: Alere (ALR) announced that the European Commission has granted clearance for Abbott Laboratories (ABT) to acquire Alere.

RAD 07/31/2017 42.23% 120.43%
Rite Aid Corporation merger details:

Expected to close in the second half of 2016 for a closing value of $17.2 billion. Upon completion of the merger, shareholders of Rite Aid Corporation will receive $9.00 per share in cash.

Update(s)

September 9, 2016: Walgreens (WBA) announced that it has been in talks with the Federal Trade Commission (FTC) since its announcement to discuss what actions need to be taken to gain the necessary regulatory blessings of its $17 billion acquisition of RiteAid (RAD).

September 12, 2016: Walgreens (WBA) to Divest More Stores to Close Rite Aid Deal. WBA provided an update to its proposed takeover of Rite Aid Corporation (RAD). Per the requirements stated by the U.S. Federal Trade Commission, for the acquisition to be closed, Walgreens now needs to divest between 500 and 1,000 drug stores.

October 20, 2016: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that, in accordance with the terms of their merger agreement dated 27 October 2015, they have mutually agreed to extend the end date of their merger agreement from 27 October 2016 to 27 January 2017. The companies now expect the transaction will close in early calendar 2017. 

December 20, 2016: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that they have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s (FRED) for $950 million in an all-cash transaction.

January 20, 2017: Rite Aid (RAD) shares were halted after falling 18% on reports that the FTC will not approve Walgreens Boots Alliance's (WBA) acquisition of the company, even after the two sides promised store divestitures to Fred's (FRED).

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.

January 30, 2017: Walgreens Boots Alliance (WBA) and Rite Aid Corporation (RAD) announced that they have entered into an amendment and extension of their previously announced definitive merger agreement. Under the terms of the amendment, the parties have agreed to reduce the price for each share of Rite Aid common stock to be paid by Walgreens Boots Alliance. The revised price will be a maximum of $7.00 per share and a minimum of $6.50 per share.

In addition, Walgreens Boots Alliance will be required to divest up to 1,200 Rite Aid stores and certain additional related assets if required to obtain regulatory approval. The exact price per share will be determined based on the number of required store divestitures, with the price set at $7.00 per share if 1,000 stores or fewer are required for divestiture and at $6.50 per share if 1,200 stores are required for divestiture. If the required divestitures fall between 1,000 and 1,200 stores, then there will be a pro-rata adjustment of the price per share. Walgreens Boots Alliance agreement to divest up to 1,200 Rite Aid stores represents an increase of up to 200 stores over the 1,000 stores that Walgreens Boots Alliance had agreed to divest under the terms of the original agreement.

In addition, Walgreens Boots Alliance will be required to divest up to 1,200 Rite Aid stores and certain additional related assets if required to obtain regulatory approval. The exact price per share will be determined based on the number of required store divestitures, with the price set at $7.00 per share if 1,000 stores or fewer are required for divestiture and at $6.50 per share if 1,200 stores are required for divestiture. If the required divestitures fall between 1,000 and 1,200 stores, then there will be a pro-rata adjustment of the price per share. Walgreens Boots Alliance agreement to divest up to 1,200 Rite Aid stores represents an increase of up to 200 stores over the 1,000 stores that Walgreens Boots Alliance had agreed to divest under the terms of the original agreement.

Additionally, Walgreens Boots Alliance and Rite Aid agreed to extend the end date under the previously announced agreement from 27 January 2017 to 31 July 2017 in order to allow the parties additional time to obtain regulatory approval.

March 15, 2017: Walgreens Boots Alliance (WBA) is trying to secure a deal to sell more locations and assets to Fred’s (FRED) so that it can meet regulatory approval to acquire Rite Aid (RAD).

March 16, 2017: As Walgreens Boots Alliance's (WBA) acquisition of Rite Aid (RAD) nears FTC approval, Fred's has added several directors with retail experience to its board.

CAB 06/30/2017 41.32% 155.47%
Cabelas Incorporated merger details:

Expected to close in the first half of 2017 for a closing value of $5.5 billion. Upon completion of the merger, shareholders of Cabela's will receive $65.50 per share in cash.

Update(s)

October 25, 2016: Cabela’s Incorporated (CAB) and Parent each filed with the Canadian Competition Bureau pre-merger notification forms pursuant to Section 114(1) of the Competition Act, which triggered the start of the 30-day statutory waiting period under the Competition Act. The waiting period was originally scheduled to expire on November 24, 2016, unless a Supplementary Information Request (“SIR”) was issued by the Bureau pursuant to subsection 114(2) of the Competition Act. On November 24, 2016, the Company and Parent each received from the Bureau a SIR pursuant to subsection 114(2) of the Competition Act. The issuance of a SIR does not indicate that the Bureau has concluded that the transaction raises competition concerns. The SIR reflects a determination by the Bureau that it requires additional information to assess the proposed transaction. The Bureau’s decision has the effect of extending the waiting period applicable to the Merger under the Competition Act, before which the transaction is prohibited by law to close, until 30 days after the day on which the information requested in the SIR has been received by the Bureau from all SIR recipients. The Company and Parent intend to cooperate fully with this request.

On October 25, 2016, the Company and Parent filed their respective notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), with the Antitrust Division of the Department of Justice and the United States Federal Trade Commission, which triggered the start of the HSR Act waiting period. The statutory waiting period was originally scheduled to expire on November 25, 2016. Effective November 25, 2016, with the Company’s prior consent, Parent voluntarily withdrew its HSR Act notification to provide the FTC an extension beyond the initial 30-day HSR Act waiting period to conduct its review. On November 29, 2016, Parent re-filed its HSR Act notification with the FTC and DOJ. The new waiting period under the HSR Act will expire on December 29, 2016, unless the DOJ or FTC grants early termination of the HSR Act waiting period or formally requests additional information concerning the Merger.

December 30, 2016: U.S. fishing and hunting equipment retailer Cabela's (CAB), which is being bought by privately held rival Bass Pro Shops, said the Federal Trade Commission had sought more information from the companies about the deal. Capital One had informed the company that it does not expect to get approval for acquiring the credit card business, called World's Foremost Bank, before Oct. 3, 2017, hence not allowing the deal to close in the first half of 2017.

February 23, 2017: The possibility of Gander Mountain's bankruptcy could derail Cabela's (CAB) merger with Bass Pro Shops.

GNW 06/30/2017 38.17% 143.62%
Genworth Financial, Inc. merger details:

Expected to close in the middle of 2017 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Genworth Financial will receive $5.43 per share in cash.

Update(s)

December 21, 2016: Genworth Financial (GNW) announced that under the HSR Act, the merger with China Oceanwide Holdings Group may not be completed until certain information and materials have been provided by Asia Pacific and Genworth to the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission, and the applicable waiting period under the HSR Act has expired or been terminated. The parties filed the required notifications with the Antitrust Division and the FTC on December 7, 2016 and early termination of the applicable waiting period was granted on December 16, 2016.

January 25, 2017: Genworth Financial (GNW) announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will commence mailing to stockholders of record the definitive proxy materials in connection with the previously announced transaction with China Oceanwide Holdings Group. The special meeting of Genworth stockholders will be held on Tuesday, March 7, 2017.

March 7, 2017: Genworth Financial (GNW) announced that at its stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group.

ADGE 06/30/2017 18.33% 68.98%
American DG Energy, Inc. merger details:

Expected to close in the first half of 2017 for $20 million in an all stock deal. Under the terms of the agreement, each share of American DG common stock will be exchanged for 0.092 shares of Tecogen common stock.

LSCC 03/31/2017 17.90% 1088.78%
Lattice Semiconductor Corporation merger details:

Expected to close early in 2017 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of Lattice Semiconductor will receive $8.30 per share in cash.

Update(s)

November 30, 2016: Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies. Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.

January 27, 2017: Lattice Semiconductor (LSCC) invited its shareholders to attend a special meeting of stockholders of Lattice Semicondutors, which will be held on Feburary 28, 2017. The Merger is subject to routine review by antitrust authorities to determine whether the proposed transaction is likely to substantially lessen competition in any relevant market. Under the Merger Agreement, the Merger cannot be completed until (1) the expiration or termination of the applicable waiting period under the HSR Act, which early termination was granted on January 4, 2017, (2) the expiration or termination of the applicable waiting period under the Austrian Competition Act (Wettbewerbsgesetz) and/or the Austrian Cartel Act (Kartellgesetz), and (3) the clearance of the Merger by CFIUS.

February 28, 2017: Lattice Semiconductor Corporation (LSCC) announced that its shareholders have approved the adoption of the agreement and plan of merger.

Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies.
Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.Lattice Semiconductor Corporation (LSCC) announced that under the HSR Act and the rules promulgated thereunder, certain transactions exceeding the applicable thresholds require notification to the FTC and DOJ and expiration or termination of the applicable waiting period before the transaction can be consummated, unless an exemption applies.Parent or Merger Sub, on the one hand, and the Company, on the other hand, filed with the FTC and the DOJ on December 9, 2016 a Notification and Report Form relating to the Merger Agreement and the transactions contemplated hereby as required by the HSR Act. Under the HSR Act, the Merger may not be consummated until expiration or early termination of a 30-day waiting period, which will expire on January 9, 2017.
MON 12/31/2017 12.61% 16.38%
Monsanto Company merger details:

Expected to close by the end of 2017 for a closing value of $66 billion. Upon completion of the merger, shareholders of Monsanto will receive $128 per share in cash.

Update(s)

March 9, 2017: According to Reuters, Bayer (BAYRY) and Monsanto (MON) are launching asset sales worth roughly $2.5 billion as they seek regulatory clearance for their $66 billion merger, people close to the matter said.

WR 06/30/2017 10.44% 39.27%
Westar Energy, Inc. merger details:

Expected to close in the spring of 2017 for a closing value of approximately $12.2 billion ina cash plus stock deal. Under the terms of the agreement, Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock, subject to a 7.5 percent collar based upon the Great Plains Energy common stock price at the time of the closing of the transaction, with the exchange ratio for the stock consideration ranging between 0.2709 to 0.3148 shares of Great Plains Energy common stock for each Westar share of common stock, representing a consideration mix of 85 percent cash and 15 percent stock.

Update(s)

September 27, 2016: The KCC issued an order setting a procedural schedule for the application, with a KCC order date of April 24, 2017.  On October 18, 2016, the KCC issued an order stating that, if the KCC staff or other interested parties believe that the joint application does not adequately address the standards by which public utility mergers should be evaluated in Kansas, KCC staff or other interested parties should file for relief, including the potential dismissal of the joint application.

December 20, 2016: The staff of the Kansas Corporation Commission said it couldn't recommend approval of a merger between Great Plains Energy (GXP) and Westar Energy (WR), saying it contains several flaws. We have extended the closing date for this deal to June 30, 2017.

TWX 12/31/2017 10.25% 13.31%
Time Warner Inc. merger details:

Expected to close before year-end 2017 for a closing value of $108.7 billion in a cash plus stock deal. Under the terms of the agreement, Time Warner shareholders will receive $107.50 per share under the terms of the merger, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock. The stock portion will be subject to a collar such that Time Warner shareholders will receive 1.437 AT&T shares if AT&T’s average stock price is below $37.411 at closing and 1.3 AT&T shares if AT&T’s average stock price is above $41.349 at closing.

Update(s)

December 1, 2016: AT&T (T) executives reportedly met with members of Donald Trump’s transition team, which told the telecom company its proposed merger would be scrutinized without prejudice. Executives are apparently confident the deal can pass regulatory review.

December 22, 2016: AT&T (T) announced that it has found a leader for its integration with Time Warner (TWX). The Dallas telecom has chosen Lori Lee, who currently serves as senior executive vice president and global marketing officer.

December 23, 2016: Brean Capital’s Alan Gould mentioned in a note that the arbitrage discount to the AT&T (T) to acquire Time Warner (TWX) has shrunk from the high teens to 12 percent. Gould downgraded the rating on Time Warner from Buy to Hold.

January 6, 2017: Dallas-based AT&T (T) said in a securities filing that it anticipates Time Warner (TWX) will not need to transfer any of its FCC licenses to AT&T, which would likely mean the deal will only need the approval of the U.S. Justice Department. 

January 9, 2017: Time Warner (TWX) invited its stockholders to attend a special meeting of the shareholders of Time Warner that will be held on February 15. The deal could hit a roadblock unless Time Warner shareholders holding at least a majority of the shares outstanding as of the close of January 3, 2017 — the record for the special meeting — vote in favor of the transaction.

February 15, 2017: Time Warner (TWX) shareholders voted in unanimous favor of the company’s proposed $85-billion merger with AT&T (T).

February 23, 2017: Time Warner (TWX) said it plans to sell a broadcast station in Atlanta to Meredith (MDP) for $70 million, which could help speed the company's planned merger with AT&T Inc (T).

February 27, 2017: The new chairman of the Federal Communications Commission said he didn’t expect the agency to have a role in reviewing AT&T (T)’s $85 billion takeover of Time Warner (TWX).

March 15, 2017: The European Union approved AT&T's (T) proposed $85 billion purchase of Time Warner (TWX), saying that it raises no competition concerns in Europe.

AMFW 12/31/2017 8.46% 10.99%
Amec Foster Wheeler plc merger details:

Expected to close in the second half of 2017 for a closing value of $2.7 billion in an all stock deal. Under the terms of the agreement, each Amec Foster Wheeler Shareholder will receive for each Amec Foster Wheeler Share, 0.75 New Wood Group Shares.

MBVT 06/30/2017 8.18% 30.78%
Merchants Bancshares Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $304 million. Under the terms of the agreement, shareholders of Merchants Bancshares will have the option to receive, at their election, consideration per share equal to (i) 0.963 shares of Community Bank System common stock, (ii) $40.00 in cash or (iii) the combination of 0.6741 shares of Community Bank System common stock and $12.00 in cash, subject to an overall proration to 70% stock and 30% cash.

NXPI 12/31/2017 6.81% 8.84%
NXP Semiconductors NV merger details:

Expected to close by the end of 2017 for a closing value of $38 billion. Upon completion of the merger, shareholders of NXP Semiconductors will receive $110 per share in cash.

Update(s)

November 18, 2016: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings, an indirect wholly owned subsidiary of Qualcomm, has commenced the previously announced tender offer for all of the outstanding common shares of NXP Semiconductors (NXPI) at a price of $110.00 per share, less any applicable withholding taxes and without interest, to the holders thereof and payable in cash.

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 River Holdings, an indirect wholly owned subsidiary of QUALCOMM Incorporated (QCOM), to acquire all of the outstanding shares of NXP. 

February 6, 2017: Qualcomm (QCOM) announced that it is extending its cash tender offer for all of the outstanding shares of NXP Semiconductors (NXPI). Qualcomm said the tender offer is now slated to expire March 7.

March 7, 2017: Qualcomm Incorporated (QCOM) announced that it has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI).  The tender offer is now scheduled to expire on April 4, 2017.

SYT 04/28/2017 6.62% 71.02%
Syngenta AG merger details:

Expected to close by the end of the year for a closing value of $43 billion. Under the terms of the agreement, shareholders of Syngenta will receive US$465 per ordinary share plus a special dividend of CHF 5 to be paid conditional upon and prior to closing. The offer is equivalent to a Swiss franc value of CHF 480 per share. 

Update(s)

May 23, 2016: An ordinary dividend of up to CHF 11 gross per Common Share for the financial year ended December 31, 2015, and, upon the Offers becoming unconditional, a special dividend of CHF 5 gross per Common Share, in each case, if approved by an ordinary meeting of Syngenta shareholders scheduled to take place on April 26, 2016, will be paid to Syngenta shareholders. The price payable by Purchaser per Common Share or per ADS tendered into the U.S. Offer will not be adjusted as a result of the payment of the Ordinary Dividend and the Special Dividend.

October 28, 2016: European Union antitrust regulators opened an in-depth investigation into state-owned Chinese chemicals group ChemChina's $43 billion bid for Swiss pesticides and seeds group Syngenta (SYT), China's biggest-ever foreign acquisition.

November 1, 2016: ChemChina said it has extended its $43 billion cash offer for Swiss agrichemicals group Syngenta (SYT) to January 5 while it works to gain regulatory approval for the deal.

November 17, 2016: The European Commission pushed back its deadline for a decision on ChemChina's plan to acquire Swiss pesticides and seeds group Syngenta (SYT) by 10 working days to March 29. We have extended the closing date for this deal to April 15, 2017.

December 2, 2016: Reuters noted that ChemChina has put together a fund aimed at raising around $5 billion to help finance its Syngenta (SYT) purchase.

January 3, 2017: European Union antitrust regulators extended the deadline for a decision on ChemChina's proposed buy of Swiss pesticides and seeds group Syngenta (SYT) by 10 working days to April 12.

January 10, 2017: ChemChina and Syngenta (SYT) proposed minor concessions to the EU's competition watchdog to address concerns over their $43 billion merger plan.

January 16, 2017: Syngenta (SYT) Chief Executive Erik Fyrwald said that he expects regulatory approval soon for ChemChina's proposed $43 billion takeover of the Swiss pesticides and seeds group.

January 20, 2017: ChemChina announced that it has sought the U.S. anti-trust regulator's approval for its planned $43 billion acquisition of Swiss crop protection and seed group Syngenta AG (SYT).

February 2, 2017: According to sources, ChemChina is set to secure conditional EU antitrust approval for its $43 billion bid for Syngenta (SYT).

February 8, 2017: ChemChina and Syngenta (SYT) have made significant progress towards achieving the necessary regulatory approvals and closing the transaction. To date approvals have been achieved from 13 regulatory authorities; approvals are still awaited from Brazil, Canada, China, the EU, India, Mexico and the United States. National security clearance has been granted by CFIUS in the United States. ChemChina and Syngenta remain fully committed to the transaction and are confident of its closure.

February 23, 2017: China National Chemical Corporation extended until April 28 its $43 billion tender offer for Swiss pesticides and seeds group Syngenta (SYT).

WGL 06/30/2018 6.47% 5.11%
WGL Holdings, Inc. merger details:

Expected to close in the second quarter of 2018 for a closing value of $6.4 billion. Upon completion of the merger, sharheolders of WGL Holdings will receive $88.25 per share in cash.

CFCB 06/30/2017 6.15% 23.14%
Centrue Financial Corporation merger details:

Expected to close by mid-2017 for a closing value of $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.

LVLT 09/30/2017 5.16% 9.96%
Level 3 Communications, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $34 billion in a cash plus stock deal. Under terms of the agreement, Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink stock for each Level 3 share they own.

Update(s)

January 12, 2017: CenturyLink (CTL) refiled its pre-merger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its previously-announced acquisition of Level 3 Communications (LVLT). Each company first filed its HSR notification on December 12, 2016 and, following consultations with the U.S. Department of Justice, Antitrust Division, CenturyLink withdrew its original HSR notification on January 11, 2017.

March 16, 2017: CenturyLink (CTL) and Level 3 Communications (LVLT) announced that shareholders of both companies overwhelmingly approved all proposals related to the companies’ merger.

GLBL 12/31/2017 5.15% 6.70%
TerraForm Global, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of TerraForm Global will receive $5.10 per share in cash.

MBLY 12/31/2017 4.54% 5.90%
Mobileye N.V. merger details:

Expected to close in the next nine months for a closing value of $14.7 billion. Upon completion of the merger, shareholders of Mobileye will reeive $63.54 per share in cash.

FBRC 06/30/2017 3.75% 14.11%
FBR & Co. merger details:

Expected to close in the second quarter of 2017 for a closing value of $160.1 million in an all stock deal. Under the terms of the agreement, FBR shareholders will receive .671 shares of B. Riley common stock and an anticipated pre-closing cash dividend of $8.50 per share assuming sufficient funds are available for distribution.

EGAS 12/31/2017 3.56% 4.62%
Gas Natural Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $196 million. Upon completion of the merger, shareholders of Gas Natural will receive $13.10 per share in cash.

Update(s)

December 28, 2016: Gas Natural (EGAS) announced that, based on votes cast at the Company's special meeting of shareholders, Gas Natural's shareholders voted to approve the Company's previously announced plan to merge with First Reserve Energy Infrastructure Fund.

SWC 06/30/2017 3.45% 12.98%
Stillwater Mining Company merger details:

Expected to close in the second quarter of 2017 for a closing value of $2.2 billion. Upon completion of the merger, shareholders of Stillwater Mining Companies will receive $18.00 per share in cash.

Update(s)

March 3, 2017: The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC). The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.

The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC).
The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining (SWC).The committee, which examines deals for potential U.S. national security concerns, extended the deadline for its review from February 28 to no later than April 14, 2017 which the company said was part of the normal process.

 

DGI 12/31/2017 3.12% 4.05%
DigitalGlobe, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $3.6 billion in a cash plus stock deal. Under the terms of the agreement, each DigitalGlobe common share will be exchanged for US$17.50 in cash and 0.3132 MDA common shares, representing a per share value of US$17.50 based on MDA’s unaffected closing share price of C$73.40 on the Toronto Stock Exchange (TSX) on February 16, 2017.

INVN 09/30/2017 3.09% 5.97%
InvenSense, Inc. merger details:

Expected to close in the second quarter of the fiscal year ending March 31, 2018 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of InvenSense will receive $13.00 per share in cash.

HW 06/30/2017 3.06% 11.51%
Headwaters Incorporated merger details:

Expected to close in mid-calendar year 2017 for a closing value of $2.6 billion. Upon completion of the merger, shareholders of Headwaters will receive $24.25 per share in cash.

Update(s)

December 29, 2016: Headwaters (HW) invited its stockholders to attend the Special Meeting of Stockholders of Headwaters Incorporated, which will be held on Friday, February 3, 2017 to approve the merger agreement with Boral Limited and Enterprise Merger Sub.

January 5, 2017: Boral Limited, in consultation with Headwaters Incorporated (HW), voluntarily withdrew its Premerger Notification and Report Form on January 6, 2017, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Headwaters by Boral. Boral plans to re-file the HSR Filing on January 10, 2017 in order to restart the initial waiting period under the HSR Act and to provide the U.S. Federal Trade Commission additional time to review the proposed transaction.

February 3, 2017: Headwaters Incorporated (HW) announced that its stockholders approved the acquisition of Headwaters by Boral Limited at its special meeting of stockholders.

FRP 06/30/2017 2.82% 10.61%
Fairpoint Communications, Inc. merger details:

Expected to close by mid-2017 for for a closing value of $1.5 billion in an all stock deal. Under the terms of the agreement, FairPoint shareholders will receive a fixed exchange ratio of 0.7300 shares of Consolidated Communications common stock for each share of FairPoint common stock.

Update(s)

January 12, 2017: The $1.5B merger of FairPoint Communications (FRP) and Consolidated Communications (CNSL) received its antitrust approval. That came in an early termination notice Thursday from the Federal Trade Commission, which means that neither it nor the Justice Department had issues with the merger that required either conditions or suing to block it, so its Hart-Scott-Rodino antitrust review was terminated early. The merger still needs to get the approval of the FCC, whose review extends beyond antitrust to public interest concerns.

CACQ 03/31/2017 2.75% 167.24%
Caesars Acquisition Company merger details:

Expectes to close in the first quarter of 2015 in an all stock deal. Under the terms of the agreement, each outstanding share of Caesars Acquisition class A common stock will be exchanged for 0.664 share of Caesars Entertainment common stock.

Update(s)

July 11, 2016: Caesars Entertainment (CZR) and Caesars Acquisition (CACQ) amended their proposed merger agreement, which is intertwined with the $18 billion bankruptcy of the casino company's main operating unit. Under the amended terms, Caesars Acquisition shareholders will receive 27 percent of the merged entity. Under the original proposal, they would have received 38 percent, according to regulatory filings. A confirmation hearing for CEOC's Plan of Reorganization has been set for January 17, 2017.

January 16, 2017: We have extended the closing date for this deal to March 31, 2017.

February 21, 2017: Caesars Entertainment Corporation (CZR) and Caesars Acquisition Company (CACQ) announced that they have amended the terms of their proposed merger. Under the terms of the Merger Agreement, as amended, Caesars Acquisition stockholders will receive 1.625 shares of Caesars Entertainment for each Caesars Acquisition share they own, subject to anti-dilution adjustments in certain circumstances set forth in the Merger Agreement, as amended. Closing of the merger is subject to regulatory and stockholder approval, receipt of certain tax opinions and other customary closing conditions.

PCBK 06/30/2017 2.55% 9.61%
Pacific Continental Corporation merger details:

Expected to close by mid-2017 for a closing value of $644.1 million in an all stock deal. Under the terms of the merger agreement, Pacific Continental shareholders are entitled to receive 0.6430 of a share of Columbia common stock for each share of Pacific Continental stock, subject to certain potential adjustments.

SYUT 04/30/2017 2.54% 25.78%
Synutra International, Inc. merger details:

Under the terms of the agreement, shareholders of Synutra will receive $6.05 per share in cash.

Update(s)

March 9, 2017: Synutra International (SYUT) announced that its Annual Meeting of Shareholders will be held on April 28, 2017.

March 13, 2017: Synutra International (SYUT) announced that it has called a special meeting of its stockholders, to be held on April 28, 2017. We have extended the closing date for this deal to April 30, 2017.

RBPAA 09/30/2017 2.37% 4.57%
Royal Bancshares of Pennsylvania, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $127.7 million in an all stock deal. Under the terms of the Merger Agreement, Class A shareholders of Royal will receive 0.1025 shares of the Corporation’s common stock for each share of Royal’s Class A common stock and Class B shareholders of Royal will receive 0.1179 shares of the Corporation’s common stock for each share of Royal Class B common stock.

OKSB 09/30/2017 2.06% 3.97%
Southwest Bancorp, Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $564.4 million in a cash plus stock deal. Under the terms of the Agreement, each outstanding share of common stock and equivalents of SBI will be converted into the right to receive 0.3903 shares of the Company’s common stock and $5.11 in cash.

Update(s)

March 9, 2017: Southwest Bancorp (OKSB) announced that its Annual Meeting of Shareholders will be held on April 25, 2017.

SCAI 06/30/2017 2.02% 7.61%
Surgical Care Affiliates, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $2.3 billion. The agreement calls for the acquisition of SCA’s outstanding common stock for a fixed price of $57.00 per share, to be funded between 51 percent and 80 percent with UnitedHealth Group common stock, with the final percentage to be determined at UnitedHealth Group’s option and the remainder in cash.

Update(s)

February 13, 2017: The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired  on February 13, 2017 in connection with the proposed acquisition of Surgical Care Affiliates (SCAI) by UnitedHealth Group Incorporated (UNH).

LMOS 09/30/2017 1.95% 3.77%
Lumos Networks Corp. merger details:

Expected to close during the third quarter of 2017 for a closing value of $950 million. Upon completion of the merger, shareholders of Lumos Networks will receive $18.00 per share in cash.

FCFP 06/30/2017 1.88% 7.09%
First Community Financial Partners, Inc. merger details:

Expected to close by mid-2017 for a closing value of $235.8 million in a cash plus stock deal. Under the terms of the merger agreement, First Community shareholders will receive 0.396 shares of BUSE common stock and $1.35 in cash for each share of FCFP common stock.

AF 12/31/2017 1.87% 2.44%
Astoria Financial Corporation merger details:

Expected to close in the fourth quarter of 2017 for a closing value of $2.2 billion in an all stock deal. Under the terms of the agreement, shareholders of Astoria Financial will receive a fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.

fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.fixed exchange of 0.875 shares of Sterling common stock for each share of Astoria common stock.

 

MJN 09/30/2017 1.86% 3.58%
Mead Johnson Nutrition Company merger details:

Expected to close in the third quarter of 2017 for a closing value of $17.9 billion. Upon completion of the merger, shareholders of Mead Johnson Nutrition Company will receive $90.00 per share in cash.

BRCD 10/31/2017 1.84% 3.05%
Brocade Communications Systems, Inc. merger details:

Expected to close in the second half of Broadcom's fiscal year 2017 for a closing value of $5.5 billion. Upon completion of the merger, shareholders of Brocade Communications Systems wil receive $12.75 per share in cash.

Update(s)

January 9, 2017: Broadcom (AVGO) and Brocade (BRCD) submitted filings to grant the Federal Trade Commission a little more time to review their $5.9B merger deal.

January 26, 2017: Brocade Communications (BRCD) confirmed that its shareholders voted in favor of the company's buyout by Broadcom (AVGO).

VAL 06/21/2017 1.80% 7.47%
The Valspar Corporation merger details:

Expected to close in the first quarter of 2017 for a closing value of $11.3 billion. Upon completion of the merger, shareholders of The Valspar Corporation will receive $113 per share in cash. Under the terms of the merger agreement, in what both companies believe to be the unlikely event that divestitures are required of businesses totaling more than $650 million of Valspar's 2015 revenues, the transaction price would be adjusted to $105 in cash per Valspar share.

Update(s)

June 29, 2016: The Valspar Corporation (VAL) announced that Valspar shareholders voted to approve the Company's proposed acquisition by The Sherwin-Williams Company (SHW).

October 29, 2016: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) issued the following statement in response to unfounded market rumors concerning regulatory approvals for the definitive agreement between Sherwin-Williams and Valspar, which was announced on March 20, 2016: Sherwin-Williams and Valspar continue to cooperate fully with the FTC staff and continue to expect the transaction will close by the end of Q1 calendar year 2017.  Given the complementary nature of the businesses and the benefits this transaction will provide to customers, Sherwin-Williams and Valspar continue to believe that no or minimal divestitures should be required to complete the transaction.

December 19, 2016: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) issued the following statement in response to unfounded market rumors concerning regulatory approvals for the definitive agreement between Sherwin-Williams and Valspar, which was announced on March 20, 2016: Sherwin-Williams and Valspar continue to cooperate fully with the FTC staff and continue to expect the transaction will close by the end of Q1 calendar year 2017. Given the complementary nature of the businesses and the benefits this transaction will provide to customers, Sherwin-Williams and Valspar continue to believe that no or minimal divestitures should be required to complete the transaction.

Janaury 26, 2017: Sherwin-Williams (SHW) said it now expects to sell part of its business to complete its acquisition of rival Valspar (VAL).

March 21, 2017: The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) announced that they have extended the termination date of the definitive agreement under which Sherwin-Williams will acquire Valspar for $113 per share in an all-cash transaction, from March 21, 2017 to June 21, 2017.

KZ 03/31/2017 1.75% 106.58%
KongZhong Corporation merger details:

Expected to close for a closing value of $299 million. Under the terms of the Merger Agreement, shareholders of KongZhong will receive $7.55 per share in cash.

Update(s)

March 20, 2017: KongZhong Corporation (KZ) announced that, at an extraordinary general meeting, the Company’s shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger.

LMIA 06/30/2017 1.74% 6.56%
LMI Aerospace, Inc. merger details:

Expected to close by mid-2017 for a closing value of $381.48 million. Upon completion of the merger, shareholders of LMI Aerospace will receive $14.00 per share in cash.

MBRG 04/15/2017 1.73% 30.12%
Middleburg Financial Corporation merger details:

Expected to close in the second quarter of 2017 for a closing value of $233.1 million in an all stock deal. Under the terms of the merger agreement, Middleburg shareholders will receive a fixed exchange ratio of 1.3314 Access National shares for each share of Middleburg common stock owned.

Update(s)

March 13, 2017: At separate special meetings, shareholders of both Access National Corporation (ANCX) and Middleburg Financial Corporation (MBRG) approved the agreement pursuant to which Access will merge with Middleburg. The parties expect the mergers to close in early April 2017.

WOOF 09/30/2017 1.64% 3.17%
VCA Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $9.1 billion. Upon completion of the merger, shareholders of VCA will receive $93.00 per share in cash.

Update(s)

February 15, 2017: VCA invited its shareholders to attend a special meeting of the stockholders on March 28, 2017.

AWH 06/30/2017 1.62% 6.09%
Allied World Assurance Company Holdings merger details:

Expected to close in the second quarter of 2017 for a closing value of $4.9 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Allied World will receive cash and stock for a total value of $54.00 per Allied World share. The cash portion of the deal is $10, half of which will be paid as a  pre-closing dividend. The share portion of the deal is worth approximately $44.00 in Fairfax Shares and is subject to collars based on the price of Fairfax. Fairfax also has the option to covert $30 of the share portion into a cash offer.

A portion of the stock consideration, having a value of $14.00 based on the closing price of Fairfax Shares as of December 16, 2016, is payable at a fixed exchange ratio of 0.030392. The remaining portion of the stock consideration to Allied World will be a number of Fairfax Shares with a value equal to $30.00, with such number of Fairfax Shares determined based on the volume weighted average closing price of Fairfax Shares for the 20 trading days ending on the day prior to closing (provided that this volume weighted average price is no less than $435.65 and no greater than $485.65 per share, $25.00 below and above the Fairfax Closing Price, respectively). If the volume weighted average price of Fairfax Shares during this period is above $485.65, the stock portion of the consideration will be fixed at 0.061772 Fairfax Shares for each share of Allied World, and if it is below $435.65 per share, the stock portion of the consideration will be fixed at 0.068862 Fairfax Shares for each share of Allied World.  Additionally, on or before 75 days after the date of the Agreement, Fairfax has the option to replace on a dollar-for-dollar basis this portion of the stock consideration with cash in an amount up to $30.00 per Allied World Share, together with the dividend, for up to a total cash consideration of $40.00 per Allied World Share.  Fairfax may elect to fund the $30.00 in cash by an equity or debt issuance or by bringing in third party partners.

Given the complexity of the deal, we have entered this deal as a "Special Conditions" deal with a value of $54.

Update(s)

March 3, 2017: Fairfax Financial Holdings Limited (FFH.TO) and Allied World Assurance Company Holdings (AWH) announced that they have agreed to extend to March 10, 2017 the deadline by which Fairfax has the option to increase the cash consideration, and correspondingly reduce the “Fixed Value Stock Consideration” under the terms of the previously announced definitive merger agreement. In connection with the transaction, Allied World will hold a Special Shareholder Meeting on Wednesday, March 22, 2017.

March 10, 2017: Fairfax Financial Holdings Limited (FFH.TO) and Allied World Assurance Company Holdings (AWH) announced that Fairfax has exercised its option to increase the cash consideration component of its offer to Allied World shareholders by $18.00 out of a possible increase of $30.00 per ordinary share. As a result, the cash consideration component of the offer will increase from $5.00 per ordinary share to $23.00 per ordinary share, together with the $5.00 special dividend that, subject to Allied World shareholder approval, will be payable in connection with the transaction, for total cash consideration of $28.00 per Allied World ordinary share.

March 22, 2017: Allied World Assurance Company Holdings (AWH) announced that its shareholders have approved both of the proposals that were voted on at the company’s special shareholder meeting held in connection with the previously announced merger transaction with Fairfax Financial Holdings Limited.

FIG 12/31/2017 1.38% 1.79%
Fortress Investment Group LLC merger details:

Expected to close in the second half of 2017 for a closing value of $3.3 billion. Upon completin of the merger, shareholders of Fortress Investment Group will receive $8.08 per share in cash.

The Merger Agreement also provides that the Company's shareholders may also receive up to two regular quarterly dividends prior to the closing, each in an amount not to exceed $0.09 per Class A share. There are no appraisal or dissenters' rights available with respect to the Merger.

Update(s)

February 27, 2017: Fortress (FIG) declared a base quarterly cash dividend of $0.09 per Class A share for the fourth quarter of 2016. This dividend is payable on March 21, 2017 to holders of record of Class A shares on March 15, 2017. In connection with the proposed Merger, the company said that they have contractually agreed that they will not pay dividends for the quarterly period ended March 31, 2017 in any amount greater than $0.09 per share, and that they will not pay any dividends with respect to periods ending after that while the Merger Agreement remains in effect. Fortress Class A shareholders should therefore not anticipate receiving a dividend with respect to the quarterly periods ended June 30, 2017 or September 30, 2017, even if the Merger has not yet been consummated at the time of the customary dividend payment dates for such periods.

SGM 06/30/2017 1.27% 4.76%
Stonegate Mortgage Corporation merger details:

Expected to close by the end of the second quarter of 2017 for a closing value of $211 million. Upon completion of the merger, shareholders of Stonegate Mortgage Corporation will receive $8.00 per share in cash.

Update(s)

March 13, 2017: Stonegate Mortgage Corporation (SGM) announced that it has set a date for a special meeting of its stockholders to consider and vote on a proposal to adopt the previously announced merger agreement which provides for the acquisition of Stonegate Mortgage by Home Point Financial Corporation. The special meeting is scheduled to be held on April 27, 2017.

ZLTQ 12/31/2017 1.25% 1.63%
ZELTIQ Aesthetics, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $2.475 billion. Upon completion of the merger, shareholders of ZELTIQ Aesthetics will receive $56.50 per share in cash.

WWAV 03/31/2017 1.17% 71.12%
The WhiteWave Foods Company merger details:

Expected to close by the end of the year for a closing value of $12.5 billion. Upon completion of the merger, shareholders of The WhiteWave Foods will receive $56.25 per share in cash.

Update(s)

October 5, 2016: The WhiteWave Foods Company (WWAV) announced that during a special stockholder meeting, the stockholders of the company approved the merger agreement under which Danone S.A. will acquire all of the outstanding shares of WhiteWave. Stockholders also approved other proposals relating to the merger.

November 9, 2016: In their Q3 earnings release, WhiteWave Food company (WWAV) said that they expect the closing of their merger with Danone S.A. to occur in the first quarter of 2017.

November 22, 2016: The WhiteWave Foods Company (WWAV) announced that holders of a majority in aggregate principal amount of its outstanding $500,000,000 5.375% Senior Notes due 2022 have delivered valid consents in connection with the Company’s previously announced consent solicitation for certain proposed amendments to the indenture governing the 2022 Notes.

December 16, 2016: The European Commission cleared France's Danone to proceed with its $10.4 billion purchase of U.S. organic food producer WhiteWave (WWAV), subject to it selling a business in Belgium.

January 6, 2017: The WhiteWave Foods Company (WWAV) announced that in accordance with the Merger Agreement, each of the Company and Danone has elected to extend the Long Stop Date under the Merger Agreement by 90 days to facilitate the completion of review of the transaction by the United States Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act. The Company continues to expect closing to occur in first quarter 2017, though there can be no assurance regarding timing of completion of regulatory processes.

NSR 09/30/2017 1.06% 2.04%
NeuStar, Inc. merger details:

Expected to close in the third calendar wuarter of 2017 for a closing value of approximately $2.9 billion. Upon completion of the merger, shareholders of NeuStar will receive $33.50 per share in cash.

Update(s)

March 15, 2017: Neustar (NSR) announced that Neustar stockholders voted to approve the previously announced definitive merger agreement pursuant to which a private investment group led by Golden Gate Capital will acquire Neustar. 

OKS 06/30/2017 0.99% 3.73%
ONEOK Partners, L.P. merger details:

Expected to close in the second quarter of 2017 for a closing value of $17.2 billion in an all stock deal. Under the terms of the agreement, each outstanding common unit of ONEOK Partners that ONEOK does not already own will be converted into 0.985 shares of ONEOK common stock.

CHMT 06/30/2017 0.90% 3.40%
Chemtura Corporation merger details:

Expected to close by mid-2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Chemtura Corporation will receive $33.50 per share in cash.

Update(s)

December 23, 2016: Chemtura Corporation (CHMT) announced that it will hold a special meeting of our stockholders in connection with the proposed merger on February 1, 2017.

February 1, 2017: Chemtura Corporation (CHMT) announced that at a special meeting of stockholders, Chemtura stockholders voted to approve and adopt the previously announced merger agreement with LANXESS Deutschland.

CFNL 06/30/2017 0.86% 3.25%
Cardinal Financial Corp. merger details:

Expected to close by mid-2017 for a closing value of $912 million in an all stock deal. Under the terms of the agreement, shareholders of Cardinal Financial will receive 0.71 of United’s shares for each share of Cardinal.

WNR 06/30/2017 0.76% 2.84%
Western Refining, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $6.4 billion in an all stock deal. Under the terms of the agreement, Western shareholders can elect to receive 0.4350 shares of Tesoro for each share of Western stock they own, or $37.30 in cash per share of Western stock, up to a cap of 10% of the equity consideration. Because 90% of the consideration will be paid out in stock we are going to treat this as an all stock deal.

Update(s)

December 8, 2016: Tesoro (TSO) and Western Refining (WNR) filed their respective notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with the Antitrust Division of the Department of Justice  and the United States Federal Trade Commission, which triggered the start of the HSR Act waiting period. The statutory waiting period was originally scheduled to expire on January 9, 2017. Effective January 9, 2017, as permitted by the Merger Agreement, Tesoro voluntarily withdrew its HSR Act notification to provide the FTC an extension beyond the initial 30-day HSR Act waiting period to conduct its review. On January 11, 2017, Tesoro re-filed its HSR Act notification with the FTC and DOJ. The new waiting period under the HSR Act will expire on February 10, 2017, unless the DOJ or FTC grants early termination of the HSR Act waiting period or formally requests additional information concerning the Merger.

MEP 06/30/2017 0.63% 2.37%
Midcoast Energy Partners, L.P. merger details:

Expected to close in the second quarter of 2017 for a closing value of $170.2 million. Upon completion of the merger, shareholders of Midcoast Energy Partners will receive $8.00 per share in cash.

DGAS 12/31/2017 0.63% 0.81%
Delta Natural Gas Company, Inc. merger details:

Expected to close by the end of 2017 for a closing value of $227 million. Upon completion of the merger, shareholders of Delta Natural Gas will receive $30.50 per share in cash.

CST 03/31/2017 0.58% 35.30%
CST Brands, Inc. merger details:

Expected to close early calendar year 2017 for a closing value of $4.4 billion. Upon completion of the merger, shareholders of CST Brands will receive $48.53 per share in cash.

Update(s)

October 11, 2016: On August 30, 2016, Circle K filed with the commissioner a request for an Advance Ruling Certificate or no-action letter. Circle K and CST filed their notifications with the commissioner on or before September 7, 2016, commencing the applicable waiting period from that date. On October 7, 2016, the commissioner issued supplementary information requests to each of Circle K and CST, thereby extending the waiting period until 30 days after both Circle K and CST comply with the supplementary information requests.

November 16, 2016: The Company received a request for additional information and documentary material from the United States Federal Trade Commission with respect to the pending acquisition of the Company by Alimentation Couche-Tard. Accordingly, the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, will expire 30 days after substantial compliance with the Second Request has been certified by all parties to the transaction that received a Second Request, unless that period is extended by court order or terminated earlier by the FTC.

December 9, 2016: CST Brands (CST) stockholders approved the merger agreement with one of the Alimentation Couche-Tard Inc.´s wholly owned U.S. subsidiaries.

ETP 03/31/2017 0.52% 31.41%
Energy Transfer Partners, L.P. merger details:

Expected to close in the first quarter of 2017 for a closing value of $19.93 billionin an all stock deal. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own.

ALJ 06/30/2017 0.51% 1.91%
Alon USA Energy, Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $1.27 billion in an all stock deal. Under terms of the agreement, the owners of the remaining outstanding shares in Alon that Delek US does not currently own will receive a fixed exchange ratio of 0.5040 Delek US shares for each share of Alon.

MPSX 06/30/2017 0.45% 1.68%
Multi Packaging Solutions International Limited merger details:

Expected to close in WestRock's third quarter fiscal 2017 for a closing value of $2.28 billion. Upon completion of the merger, shareholders of Multi Packaging Solutions will receive $18.00 per share in cash.

Update(s)

March 3, 2017: Multi Packaging Solutions (MPSX) invited its shareholders to attend a special general meeting of shareholders of Multi Packaging Solutions to be held on April 5, 2017.

GTWN 03/31/2017 0.43% 26.13%
Georgetown Bancorp Inc. merger details:

Expected to close in the first quarter of 2017 for a closing value of $49.2 million. Upon completion of the merger, shareholders of Georgetown Bancorp will receive $26.00 per share in cash.

Update(s)

January 3, 2017: Georgetown Bancorp (GTWN) invited its shareholders to attend a special meeting of stockholders that will be held at the headquarters of Georgetown Bancorp on February 13, 2017.

JOY 06/30/2017 0.39% 1.47%
Joy Global, Inc. merger details:

Expected to close in mid-2017 for a closing value of $3.7 billion. Upon completion of the merger, shareholders of Joy Global will receive $28.30 per share in cash.

Update(s)

October 19, 2016: Joy Global (JOY) said that the company’s shareholders have overwhelmingly approved the proposed $3.7 billion acquisition of the Milwaukee surface and underground mining equipment maker by the U.S. unit of Japan’s Komatsu Ltd.

GIG 06/30/2017 0.33% 1.23%
GigPeak, Inc. merger details:

Expected to close during the second calendar quarter of 2017 for a closing value of $250 million. Upon completion of the merger, shareholders of GigPeak will receive $3.08 per share in cash.

Update(s)

March 7, 2017: Integrated Device Technology (IDTI) announced that its wholly-owned subsidiary, Glider Merger Sub, is commencing a cash tender offer to purchase all outstanding shares of common stock of GigPeak (GIG) at an offer price of $3.08 per share.

UTEK 06/30/2017 0.31% 1.16%
Ultratech, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $550 million in a cash plus stock deal. Under the terms of the agreement, Ultratech shareholders will receive (i) $21.75 per share in cash and (ii) 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding.

HEOP 06/30/2017 0.27% 1.03%
Heritage Oaks Bancorp merger details:

Expected to close in the second quarter of 2017 for a closing value of $405.6 million in an all stock deal. Under the terms of the definitive agreement, upon consummation of the transaction, holders of Heritage Oaks common stock will have the right to receive 0.3471 shares of Pacific Premier common stock for each share of Heritage Oaks common stock they own.

Update(s)

March 21, 2017: Pacific Premier Bancorp (PPBI) announced that it has received the required regulatory approvals from the Board of Governors of the Federal Reserve System and the California Department of Business Oversight for its acquisition of Heritage Oaks Bancorp (HEOP). Pacific Premier expects that the Heritage Oaks acquisition will close late in the first quarter or early in the second quarter of 2017.

XXIA 10/31/2017 0.26% 0.42%
Ixia merger details:

Expected to close no later than the end of October 2017 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of Ixia will receive $19.65 per share in cash.

SCNB 03/31/2017 0.25% 15.04%
Suffolk Bancorp merger details:

Expected to close in the fourth quarter of 2016 for a closing value of $402 million in an all stock deal. Under the terms of the agreement, shareholders of Suffolk Bancorp will receive 2.225 shares of People's United Financial stock for each Suffolk Bancorp share.

Update(s)

January 16, 2017: We have extended the closing date for this deal to March 31, 2017.

NMBL 04/30/2017 0.24% 2.44%
Nimble Storage, Inc. merger details:

Expected to close in April, 2017 for a closing value of $1 billion. Upon completion of the merger, shareholders of Nimble Storage will receive $12.50 per share in cash. In addition to the purchase price, HPE will assume or pay out Nimble’s unvested equity awards, with a value of approximately $200 million at closing.

UAM 06/30/2017 0.20% 0.75%
Universal American Corp merger details:

Expected to close in the second quarter of 2017 for a closing value of $800 million. Upon completion of the merger, shareholders of Universal American Corp will receive $10.00 per share in cash.

Update(s)

January 4, 2017: WellCare Health Plans (WCG) and Universal American Corp. (UAM) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) for WellCare’s proposed acquisition of Universal American Corp.

January 17, 2016: Universal American Corp (UAM) announced that it will hold a special meeting of our stockholders in connection with the proposed merger on February 16, 2017.

February 17, 2017: Universal American (UAM) announced that during a special stockholder meeting, its stockholders voted to approve the adoption of the previously announced merger agreement, dated as of November 17, 2016, providing for the acquisition of Universal American by WellCare Health Plans (WCG).

EVER 06/30/2017 0.15% 0.58%
EverBank Financial Corp. merger details:

Expected to close in the first half of 2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of EverBank Financial will receive $19.50 per share in cash.

Update(s)

November 9, 2016: EverBank Financial (EVER) announced that the Company’s stockholders voted to approve its acquisition by Teachers Insurance and Annuity Association of America (TIAA) at a special stockholder meeting.

EVBS 06/30/2017 0.15% 0.56%
Eastern Virginia Bankshares, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $178.3 million in an all stock deal. Under the terms of the agreement, Eastern Virginia common and preferred shareholders will receive a fixed exchange ratio equal to 0.6313 shares of Southern National common stock for each share of Eastern Virginia common stock or preferred stock owned.

Update(s)

February 23, 2017: The Eastern Virginia Bankshares (EVBS) Board of Directors decided to postpone the 2017 Annual Meeting of Shareholders because of the pending transactions contemplated by the Merger Agreement, which are expected to close in the second quarter of 2017.

CEB 06/30/2017 0.14% 0.52%
CEB Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $3.3 billion in a cash plus stock deal. Under the terms of the agreement, CEB shareholders will receive $54.00 in cash and 0.2284 shares of Gartner common stock for each share of CEB common stock they own.

MENT 06/30/2017 0.13% 0.51%
Mentor Graphics Corp. merger details:

Expected to close in the second quarter of 2017 for a closing value of $4.5 billion. Upon completion of the merger, shareholders of Mentor Graphics will receive $37.25 per share in cash.

Update(s)

February 23, 2017: Mentor Graphics (MENT) and Siemens Industry, received clearance by the Korea Fair Trade Commission under the Monopoly Regulation and Fair Trade Act to complete the pending acquisition of the Company by Parent pursuant to the Agreement and Plan of Merger.

MPG 06/30/2017 0.04% 0.17%
Metaldyne Performance Group Inc. merger details:

Expected to close in the first half of 2017 for a closing value of $3.3 billion in a cash plus stock deal. Under the terms of the agreement, each share of MPG's common stock will be converted into the right to receive $13.50 per share in cash and 0.5 share of AAM common stock.

Update(s)

March 6, 2017: Metaldyne Performance Group (MPG) announced that it will hold a special meeting of its stockholders on April 5, 2017.

ENH 03/31/2017 0.03% 1.96%
Endurance Specialty Holdings Ltd. merger details:

Expected to close before the end of SOMPO's current fiscal quarter year end, which is March 31, 2017 for a closing value of approximately $6.3 billion. Upon completion of the merger, shareholders of Endurance Specialty Holdings will receive $93.00 per share in cash.

Update(s)

December 6, 2016: Endurance Specialty Holdings (ENH) announced that it has scheduled a special general meeting of its shareholders to seek approval for the acquisition of 100% of the outstanding ordinary shares of Endurance by SOMPO Holdings, Inc. The Endurance special general meeting will be held on Friday, January 27, 2017. 

January 27, 2017: Shareholders of Endurance Specialty Holdings (ENH) voted to approve the acquisition of Endurance Specialty Holdings by SOMPO Holdings.

PLKI 04/15/2017 0.03% 0.44%
Popeyes Louisiana Kitchen, Inc. merger details:

Expected to close by early April 2017 for a closing value of $1.8 billion. Upon completion of the merger, shareholders of Poopeyes Louisiana Kitchen will receive $79.00 per share in cash.

BNCN 09/30/2017 -0.45% -0.87%
BNC Bancorp merger details:

Expected to close in the third quarter of 2017 for a closing value of $1.9 billion 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.

AIRM 06/30/2017 -0.46% -1.74%
Air Methods Corporation merger details:

Expected to close by the end of the second calendar quarter of 2017 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Air Methods will receive $43.00 per share in cash.

SBY 06/30/2017 -0.56% -2.09%
Silver Bay Realty Trust Corp. merger details:

Expected to close in the second quarter of 2017 for a closing value of $1.4 billion. Upon completion of the merger, shareholders of Silver Bay will receive $21.50 per share in cash.

CWEI 06/30/2017 -1.40% -5.25%
Clayton Williams Energy, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $3.2 billion in a cash plus stock deal. Under the terms of the agreement, Clayton Williams Energy shareholders will receive 2.7874 shares of Noble Energy common stock and $34.75 in cash for each share of common stock held. While the aggregate amount of cash and stock in the transaction will not change, on an individual basis shareholders will be able to elect to receive cash or stock, subject to proration.

Update(s)

March 13, 2017: Clayton Williams Energy (CWEI) announced that it has established a record date of March 23, 2017, and a meeting date of April 24, 2017, for a special meeting of its stockholders.

FGL 06/30/2017 -2.37% -8.91%
Fidelity & Guaranty Life Common merger details:

Expected to close in the second quarter of 2016. Upon completion of the merger, shareholders of Fidelity and Guaranty Life will receive $26.80 per share in cash.

Update(s)

June 2, 2016: Anbang withdrew its application to buy Fidelity & Guaranty Life (FGL) after failing to provide information requested for processing the deal. Anbang will try a second time with a "refiled acquisition application" to the New York regulator.

August 22, 2016: According to FGL's Quarterly Report filed on August 2, 2016, Anbang continues to work on securing the required regulatory approvals and the parties are committed to securing such approvals, however, the closing of the FGL Merger, and the timing thereof, is subject to the regulatory review and approval process. In the event that the Merger Agreement is terminated, FGL may be required to pay a termination fee to Anbang and its subsidiaries of $51. We have made this deal Active again.

November 3, 2016: Anbang, Parent and Merger Sub amended the Merger Agreement with Fidelity & Guaranty Life (FGL) by extending the Outside Termination Date from November 7, 2016 to February 8, 2017.

February 9, 2017: Fidelity & Guaranty Life (FGL) entered into Amendment No. 2 to Agreement and Plan of Merger with Anbang by extending the Outside Termination Date from February 8, 2017 to April 17, 2017. Under the terms of Amendment No. 2, the Outside Termination Date will be further extended to May 31, 2017 in the event that the Iowa Insurance Commissioner has, on or prior to April 17, 2017, publicly noticed a public hearing for the “Form A” change of control approval required by the Iowa Insurance Division. We have extended the closing date to June 30, 2017.

BEAV 03/31/2017 -3.03% -184.57%
B/E Aerospace Inc. merger details:

Expected to close in the spring of 2017 for a closing value of $8.3 billion in a cash plus stock deal. Under the terms of the agreement, each B/E Aerospace shareowner will receive total consideration of $62.00 per share, comprised of $34.10 per share in cash and $27.90 in shares of Rockwell Collins common stock, subject to a 7.5% collar. If the volume weighted average price of Rockwell Collins common stock during this period is above $89.97, the stock portion of the consideration will be fixed at 0.3101 shares of Rockwell Collins common stock for each share of B/E Aerospace, and if it is below $77.41 per share, the stock portion of the consideration will be fixed at 0.3604 shares of Rockwell Collins common stock for each share of B/E Aerospace.

Update(s)

March 9, 2017: B/E Aerospace (BEAV) announced that B/E Aerospace stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger by and among B/E Aerospace and Rockwell Collins (COL) at a special meeting of stockholders held on March 9, 2017.

GNVC 06/30/2017 -7.11% -26.77%
GenVec, Inc. merger details:

Expected to close in the second quarter of 2017 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.

PVTB 03/31/2017 -9.03% -549.17%
PrivateBancorp, Inc. merger details:

Expected to close in the first calendar quarter of 2017 for a closing value of $3.8 billion in a cash plus stock deal. Under the terms of the agreement, CIBC will pay US$18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock.

Update(s)

December 7, 2016: PrivateBancorp (PVTB) postponed a shareholder vote due Thursday on a proposed takeover by Canadian Imperial Bank of Commerce (CM), raising doubts about whether the deal will proceed.

January 18, 2017: PrivateBancorp (PVTB) announced that they continue to work toward the successful completion of their proposed merger with CIBC. The long-term strategic benefits of the transaction remain compelling. They will announce the rescheduled stockholder meeting date when it is established by their Board of Directors.

February 23, 2017: Canadian Imperial Bank of Commerce (CM) said that it would be "disciplined" in assessing whether to raise its C$3.8 billion ($2.9 billion) offer for Chicago-based PrivateBancorp (PVTB) and could buy back shares if the deal collapses.

March 6, 2017: PrivateBancorp (PVTB) announced that it has set a new record date for its special meeting of stockholders to consider and act upon the Agreement and Plan of Merger by and among PrivateBancorp, Canadian Imperial Bank of Commerce and CIBC Holdco. PrivateBancorp stockholders of record at the close of business on March 31, 2017, will be entitled to receive the notice of, and to vote at, the PrivateBancorp special meeting. The PrivateBancorp special meeting is currently expected to be held on or about May 4, 2017.

ISLE 06/30/2017 -9.63% -36.22%
Isle of Capri Casinos, Inc. merger details:

Expected to close in the second quarter of 2017 for a closing value of $1.7 billion in a cash or stock deal. Under the terms of the agreement, Eldorado will acquire all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock. Elections are subject to proration such that the outstanding shares of Isle common stock will be exchanged for aggregate consideration comprised of 58% cash and 42% Eldorado common stock.

Update(s)

December 15, 2016: Eldorado Resorts (ERI) announced that it received approval from the West Virginia Lottery Commission for its pending acquisition of Isle of Capri Casinos (ISLE).

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.

MGI 12/31/2017 -20.47% -26.59%
MoneyGram International, Inc. merger details:

Expected to close in the second half of 2017 for a closing value of $880 million. Upon completion of the merger, shareholders of MoneyGram International will receive $13.25 per share in cash.

Update(s)

March 14, 2017: MoneyGram (MGI), confirmed that it has received an unsolicited proposal from Euronet Worldwide (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis.

March 17, 2017: Ant Financial Services Group said that it is confident of closing a deal for MoneyGram International (MGI), despite a higher bid from a U.S. rival.

March 20, 2017: MoneyGram (MGI) announced that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis could reasonably be expected to result in a "Company Superior Proposal" as defined in MoneyGram's merger agreement with Ant Financial Services Group.

RAI 09/30/2017 -25.47% -49.18%
Reynolds American Inc. merger details:

Expected to close in the third quarter of 2017 for a closing value of $49.4 billion in a cash plus stock deal. Under the terms of the agreement, BAT will acquire the 57.8% of RAI common stock that BAT does not currently own for $29.44 per share in cash and a number of BAT American Depositary Shares (ADS) representing 0.5260 of a BAT ordinary share. Each ADS represents two ordinary shares.

Update(s)

March 9, 2017: Reynolds American (RAI) and British American Tobacco (BTI) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement. Both companies continue to expect the transaction to close in the third quarter of 2017.

Reynolds American (RAI) and British American Tobacco (BAT) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement.
Both companies continue to expect the transaction to close in the third quarter of 2017.Reynolds American (RAI) and British American Tobacco (BAT) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to BAT’s proposed acquisition of RAI has expired without a request for additional information by the U.S. Department of Justice or the Federal Trade Commission. The expiration of the Act’s waiting period satisfies the transaction closing condition related to U.S. antitrust approval. The transaction still requires approval by RAI and BAT shareholders and regulatory clearance from Japan, and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement.Both companies continue to expect the transaction to close in the third quarter of 2017.