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Merger Arbitrage Mondays – November 15, 2010

  • November 15, 2010

Merger Activity decreased slightly last week with four new deals being announced and four closing. You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.

Deal Statistics:

New Deals:

  1. The acquisition of Atlas Energy (ATLS) by Chevron Corporation (CVX) for $4.3 billion or $43.34. Shareholders will receive $38.25 in cash and and a pro-rata share of a distribution of over 41 million units of Atlas Pipeline Holdings for each share held. Based on Atlas Pipeline Holdings’ closing price on November 8, these units have a value of $5.09 per Atlas Energy share.
  2. The acquisition of VCG Holdings Corporation (VCGH) by the Company’s CEO Troy Lowrie and the President Micheal Ocello for $37 million or $2.25 per share in cash.
  3. The acquisition of Optelecom – NKF (OPTC) by the TKH Group for $2.45 per share in cash.

Deal Updates:

  1. Naugatuck Valley Financial Coropration (NVSL) and Southern Connecticut Bancorp (SSE) mutually agree to terminate merger agreement.
  2. U.S. antitrust regulators might seeks to block the Grifols SA’s purchase of Talecris (TLCR). The deal is now expected to close by “early 2011”. We will shortly update the Merger Arbitrage tool to reflect an expected completion date of 3/31/2011.

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