Merger Arbitrage Mondays – April 11, 2011
Merger activity scaled back a little last week with 5 new deals announced and two closing.
Deal Statistics:
New Deals:
- The acquisition of National Semiconductor Corporation (NSM) by Texas Instruments Incorporated (TXN) for $6.5 billion or $25.00 per share in cash.
- The acquisition of Epic Software Corporation (EPIC) by Apax Partners for $976 million or $12.50 per share in cash.
- The acquisition of LaBarge Inc. (LB) by Ducommun Incorporated (DCO) for $340 million or $19.25 per share in cash.
Updated Deals:
- NYSE Euronext announced it would reject an unsolicited bid by Nasdaq and ICE over antitrust concerns.
- First Niagara Financial Group, Inc. (FNFG) and NewAlliance Bancshares, Inc. (NAL) announced on April 06, 2011, the preliminary results of elections made by NewAlliance stockholders as to the form of merger consideration to be received in the pending acquisition of NewAlliance by First Niagara. The companies indicated that the merger, which remains subject to regulatory approvals, will occur no earlier than April 15, 2011.
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