Merger Arbitrage Mondays – May 30, 2011
Merger activity decreased last week with three new deals announced and four closing.
You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
New Deals:
- The acquisition of FPIC Insurance Group (FPIC) by The Doctors Company for $362 million or $42.00 per share in cash.
- The acquisition of California Pizza Kitchen (CPKI) by Golden Gate Capital for $470 million or $18.50 per share in cash.
- The acquisition of Advanced Analogic Technologies (AATI) by Skyworks Solutions (SWKS) for $258.6 million in a cash plus stock deal, where Advanced Analogic Technologies shareholders will receive $3.68 in cash and 0.08725 of Skyworks Solutions common stock for each Advanced Analogic Technologies share held. The stock component of the price has a nominal value of $2.45 for a total value of $6.13. The cash portion will be adjusted higher or reduced at closing based on the stock portion to maintain a total value of $6.13. So for all practical purposes this could be considered an all cash deal.
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