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Merger Arbitrage Mondays – March 14, 2011

  • March 14, 2011

Merger activity decreased last week with two new deals announced and three deals closing.

You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.

Deal Statistics:

Total Number of Deals Closed in 201137
Total Number of Deals Not Completed in 20111
Total Number of Pending Deals
Cash Deals41
Stock Deals22
Stock & Cash Deals13
Total Number of Pending Deals76

New Deals:

  1. The acquisition of TomoTherapy (TOMO) by Accuray (ARAY) in a cash plus stock deal for $277 million, where TomoTherapy shareholders will receive $3.15 in cash and 0.1648 shares of Accuray common stock per share of TomoTherapy common stock.
  2. The acquisition of RC2 Corp (RCRC) by TOMY Company Ltd for $640 million or $27.90 per share in cash.

99 Cents Only Stores (NDNreceived a ‘going private’ proposal from members of the Schiffer-Gold founding family and Leonard Green & Partners LP for $1.34 billion or $19.09 per share in cash. The proposal is yet to be evaluated.

Closed Deals:

  1. The acquisition of Mediacom Communications (MCCC) by the founder, chairman and chief executive officer of Mediacom, Rocco B Commisso on March 07, 2011.
  2. The acquisition of J. Crew (JCG) by TPG Capital and Leonard Green & Partners on March 07, 2011.
  3. The acquisition of Penn Virginia Resource Partners (PVG) by Penn Virginia GP Holdings on March 11, 2011.

Updated Deals:

  1. Forest Laboratories (FRX) commences tender offer for all outstanding shares of Clinical Data Inc. (CLDA).

Top 10 Deals with largest spreads:

SymbolAnnounced
Date
Acquiring
Company
Closing
Price
Last
Price
Closing
Date
ProfitAnnu.
Profit
LTXC11/18/2010Verigy Ltd (VRGY)$12.83$8.3506/30/2011 53.60% 181.15%
TAM01/19/2011LAN Airlines S.A. (LFL)$23.81$20.9709/30/2011 13.52% 24.67%
TLCR06/07/2010Grifols (GRF.MC)$29.84$26.3306/30/2011 13.33% 45.06%
DNBK01/20/2011People's United Financial Inc. (PBCT)$23.00$21.3606/30/2011 7.68% 25.95%
SHMR10/15/2010Essilor (N/A)$14.50$13.5706/30/2011 6.85% 23.16%
HYC11/17/2010Verifone Systems (PAY)$11.30$10.7709/30/2011 4.96% 9.04%
NOVL11/21/2010Attachment Corporation (N/A)$6.10$5.8304/30/2011 4.63% 35.97%
MEE01/29/2011Alpha Natural Resources, Inc. (ANR)$62.20$59.6306/30/2011 4.32% 14.58%
MAJC09/21/2010Bayside Capital Partners (N/A)$4.50$4.3203/31/2011 4.17% 89.46%
AAI09/27/2010Southwest Airlines (LUV)$7.75$7.4503/31/2011 4.03% 86.46%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.