Merger Arbitrage Mondays – March 28, 2011
Merger activity decreased last week with three new deals announced.
You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
New Deals:
- The acquisition of optionsXpress Holdings (OXPS) by Charles Schwab (SCHW) for $1 billion in an all-stock deal. Under the terms of the agreement, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock.
- The acquisition of Drugstore.com (DSCM) by Walgreen (WAG) for $409 million or $3.80 per share in cash.
- The acquisition of TGC Industries (TGE) by Dawson Geophysical Company (DWSN) for $157 million in an all-stock deal. Pursuant to the terms of the merger agreement, TGC shareholders will receive 0.188 shares of Dawson stock for every one share of TGC stock, provided that the average of the volume weighted average price of Dawson common stock on the NASDAQ during the ten consecutive trading days ending on the second business day prior to the date of the shareholders’ meetings of Dawson and TGC to be called for the purpose of approving the transaction is equal to or greater than $32.54 but less than or equal to $52.54. In the event that the average of the volume weighted average price of Dawson’s common stock is outside of that range, then the parties, at their respective option, shall be entitled to terminate the transaction following good faith negotiations to determine a modified, mutually acceptable exchange ratio.
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