Merger Arbitrage Mondays – October 25, 2010
Merger activity remained steady last week with six new deals announced and four closing.
Deal Statistics:
New Deals:
- The acquisition of AGA Medical Holdings (AGAM) by St. Jude Medical (STJ) in a cash and stock transaction valued at approximately $1.3 billion where AGA Medical shareholders will receive $20.80 for each share of AGA Medical stock they own in the form of cash and/or St. Jude Medical common stock. The split between cash and stock consideration will be 50 percent of each. Holders of AGA Medical stock tendered in the exchange offer may elect to receive cash or shares of St. Jude Medical common stock.
- The acquisition of Rock of Ages Corporation (ROAC) by Swenson Granite for $39 million or $5.25 per share in cash
- The acquisition of NSTAR (NST) by Northeast Utilities (NU) for $4.17 billion in an all-stock deal. The deal calls for the exchange of 1.312 common shares of Northeast Utilities for each NSTAR share.
Modified Deals:
- Cerberus affiliate ends BlueLinx (BXC) takeover attempt after tender offer condition isn’t met
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