Merger Arbitrage Mondays – August 22, 2011

  • August 22, 2011

Merger Activity increased last week with three new deals announced and one 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 2011135
Total Number of Deals Not Completed in 20111
Total Number of Pending Deals
Cash Deals39
Stock Deals24
Stock & Cash Deals11
Total Number of Pending Deals74

New Deals:

  1. The acquisition of Motorola Mobility Holdings (MMI) by Google (GOOG) for $12.5 billion or $40.00 per share in cash.
  2. The acquisition of Renaissance Learning (RLRN) by Permira Funds, a European private equity firm for $440 million or $14.85 per share in cash.
  3. The acquisition of Brooklyn Federal Bancorp (BFSB) by Investors Bancorp (ISBC) for $10.3 million or $0.80 per share in cash.


Closed Deals:

  1. The acquisition of Immucor (BLUD) by TPG Capital on August 19, 2011


Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

GRAN04/27/2011FNB United Corp (FNBN)$1.32$0.66109/30/2011

99.13%

927.76%

FNDT06/27/2011S1 Corporation (SONE)$23.99$15.0712/31/2011

59.19%

164.93%

HRBN06/20/2011Tech Full Electric Company Limited (N/A)$24.00$18.0412/31/2011

33.04%

92.05%

MHS07/21/2011Express Scripts, Inc. (ESRX)$65.16$52.3706/30/2012

24.42%

28.48%

TAM01/19/2011LAN Airlines S.A. (LFL)$22.66$18.6312/31/2011

21.64%

60.30%

CRU05/05/2011Capital Product Partners L.P. (CPLP)$9.83$8.1209/30/2011

21.03%

196.86%

ALTH07/20/2011Amag Pharmaceuticals (AMAG)$1.80$1.6112/31/2011

11.88%

33.09%

CSR04/20/2011Rightmark Holdings Limited (N/A)$6.50$5.9109/30/2011

9.98%

93.43%

BBBB07/01/2011Providence Equity Partners (N/A)$45.00$41.0412/31/2011

9.65%

26.88%

ABVA07/27/2011Eagle Bancorp, Inc. (EGBN)$5.09$4.7012/31/2011/td>

8.38%

23.36%

List of all pending deals:

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

Voluntary Disclosure: I have a long position in Blackboard (BBBB)