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Merger Arbitrage Mondays – January 24, 2011

  • January 24, 2011

Merger activity increased last week with five new deals announced and one deal 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 RAE Systems Inc. (RAE) by Vector Capital for $1.75 per share in cash.
  2. The acquisition of Sterling Bancshares Inc. (SBIB) by Comerica Incorporated (CMA). Expected to close by mid-year 2011 for a closing value of $1.027 billion. According to the terms of the deal, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock upon closing.
  3. The acquisition of TAM S. A. (TAM) by LAN Airlines S.A. (LFL). Completion of this transaction is expected to take between six to nine months. On the completion of merger TAM shareholders will receive 0.90 shares in LAN for each TAM share they hold.

Closed Deals:

  1. The acquisition of Rock of Ages Corp. (ROAC) by Swenson Granite Co. on January 20, 2011.

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