Merger Arbitrage Mondays – June 6, 2011

  • June 6, 2011

Merger activity increased last week with four new deals announced and eight closing.

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

Deal Statistics:

Total Number of Deals Closed in 201187
Total Number of Deals Not Completed in 20111
Total Number of Pending Deals
Cash Deals47
Stock Deals22
Stock & Cash Deals12
Special Conditions1
Total Number of Pending Deals82

New Deals:

  1. The acquisition of Central Vermont Public Service Corp. (CV) by Fortis for $700 million or $35.10 per share in cash.
  2. The acquisition of Funtalk China Holdings Limited (FTLK) by Fortress Group Limited for $443 million or $7.20 per share in cash.
  3. The acquisition of Telvent (TLVT) by Schneider Electric for $2.02 billionor $40.00 per share in cash.
  4. The acquisition of Herald National Bank (HNB) by BankUnited (BKU) for $71.4 million in a cash plus stock deal, where Herald National Bank shareholders will receive either cash or BankUnited common stock with a value of $1.35 in cash and 0.099 shares of BankUnited common stock, subject to proration.


Closed Deals:

  1. The acquisition of XETA Technologies (XETA) by PAETEC Holding (PAET) on May 31, 2011
  2. The acquisition of Pride International (PDE) by Ensco (ESV) on June 01, 2011
  3. The acquisition of RehabCare Group (RHB) by Kindred Healthcare (KND) on June 01, 2011
  4. The acquisition of Spectrum Control (SPEC) by API Technologies on June 01, 2011
  5. The acquisition of Smurfit Stone Container Corporation (SSCC) by Rock Tenn Company (RKT) on May 27, 2011.
  6. The acquisition of Talecris Biotherapeutics Holdings (TLCR) by Grifols (GRFS) on June 03, 2011
  7. The acquisition of Massey Energy (MEE) by Alpha Natural Resources (ANR) on June 03, 2011
  8. The acquisition of America Service Group (ASGR) by Valitás Health Services on June 03, 2011


Top 10 deals with largest spreads:

SymbolAnnounced
Date
Acquiring

Company

Closing

Price

Last
Price
Closing
Date
ProfitAnnu.
Profit
GRAN04/27/2011FNB United Corp (FNBN)$1.45$0.6609/30/2011

119.89%

377.23%
CSR04/20/2011Rightmark Holdings Limited (N/A)$6.50$4.6409/30/2011 40.09% 126.13%
TAM01/19/2011LAN Airlines S.A. (LFL)$25.90$22.2312/31/2011

16.52%

28.99%
DNBK01/20/2011People's United Financial Inc. (PBCT)$23.00$20.9406/30/2011 9.84% 149.61%
FTLK05/31/2011 Fortress Group Limited (N/A)$7.20$6.5609/30/2011 9.76% 30.70%
CFSG05/20/2011Bain Capital Partners (N/A)$9.00$8.2611/15/2011

8.96%

20.19%
ID09/20/2010Safran (N/A)$12.00$11.1306/15/2011 7.82% 317.01%
SVVS04/27/2011CenturyLink (CTL)$41.99$39.2612/31/2011 6.94% 12.18%
VRGY03/28/2011Advantest (ATE)$15.00$14.13512/31/2011 6.12% 10.74%
CEG04/28/2011Exelon Corporation (EXC)$38.57$36.7101/31/2012 5.06% 7.73%

List of all pending deals:

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