Merger Arbitrage Mondays – September 05, 2011

  • September 5, 2011

Merger activity increased last week with two new deals announced and three 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 2011145
Total Number of Deals Not Completed in 20111
Total Number of Pending Deals
Cash Deals32
Stock Deals24
Stock & Cash Deals10
Total Number of Pending Deals66

New Deals:

  1. The acquisition of Northgate Minerals (NXG) by AuRico Gold (AUQ) for $1.46 billion in an all stock deal, where shareholders of Northgate Minerals will receive 0.365 AuRico common shares per Northgate common share.
  2. The acquisition of Clark Holdings (GLA) by The Gores Group for $0.46 per share in cash.


Closed Deals:

  1. The acquisition of Servidyne (SERV) by Scientific Conservation on August 29, 2011
  2. The acquisition of Zoran Corporation (ZRAN) by CSR on August 31, 2011
  3. The acquisition of optionXpress Holdings (OXPS) by Charles Schwab (SCHW) on September 01, 2011


Top 10 deals with largest spreads:

SymbolAnnounced
Date
Acquiring
Company
Closing
Price
Last
Price
Closing
Date
ProfitAnnualized
Profit
GLA09/01/2011The Gores Group (N/A)$0.46$0.1712/31/2011 170.59% 532.18%
GRAN04/27/2011FNB United Corp (FNBN)$1.42$0.7209/30/2011 96.88% 1414.38%
FNDT06/27/2011S1 Corporation (SONE)$24.34$16.1912/31/2011 50.36% 157.12%
HRBN06/20/2011Tech Full Electric Company Limited (N/A)$24.00$17.4412/31/2011 37.61% 117.34%
MHS07/21/2011Express Scripts, Inc. (ESRX)$65.53$52.9106/30/2012 23.84% 29.11%
TAM01/19/2011LAN Airlines S.A. (LFL)$26.23$22.3012/31/2011 17.61% 54.92%
CRU05/05/2011Capital Product Partners L.P. (CPLP)$9.45$8.4909/30/2011 11.35% 165.71%
NXG08/29/2011AuRico Gold Inc. (AUQ)$4.43$4.1010/31/2011 8.08% 52.64%
ABVA07/27/2011Eagle Bancorp, Inc. (EGBN)$4.89$4.6012/31/2011 6.33% 19.75%
ALTH07/20/2011Amag Pharmaceuticals (AMAG)$1.74$1.6412/31/2011 6.16% 19.20%

List of all pending deals:

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