Merger Arbitrage Mondays – September 12, 2011

  • September 12, 2011

Merger activity increased last week with three 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 2011148
Total Number of Deals Not Completed in 20111
Total Number of Pending Deals
Cash Deals33
Stock Deals23
Stock & Cash Deals10
Total Number of Pending Deals66

New Deals:

  1. The acquisition of Temple Inland (TIN) by International Paper (IP) for $4.3 billion or $32.00 per share in cash. This offer replaces an earlier $30.60 per share offer by International Paper that was rejected by Temple Inland as being too low.
  2. The acquisition of Penn Millers Insurance Corporation (PMIC) by Ace Limited (ACE) for $20.50 per share in cash.
  3. The acquisition of Caliper Life Sciences (CALP) by PerkinElmer (PKI) for $600 million or $10.50 per share in cash.


Closed Deals:

  1. The acquisition of SFN Group (SFN) by Randstad Holding on September 05, 2011
  2. The acquisition of Duncan Energy Partners (DEP) by Enterprise Products Partners (EPD) on September 07, 2011
  3. The acquisition of Graham Packaging Company (GRM) by Reynolds Group Holdings Limited on September 08, 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)$1.47$0.7009/30/2011 109.73% 2225.12%
FNDT06/27/2011S1 Corporation (SONE)$23.96$16.1912/31/2011 48.01% 159.31%
ALTH07/20/2011Amag Pharmaceuticals (AMAG)$1.82$1.4412/31/2011 26.06% 86.48%
MHS07/21/2011Express Scripts, Inc. (ESRX)$64.17$51.3106/30/2012 25.07% 31.34%
HRBN06/20/2011Tech Full Electric Company Limited (N/A)$24.00$19.8012/31/2011 21.21% 70.39%
TAM01/19/2011LAN Airlines S.A. (LFL)$24.62$20.7812/31/2011 18.46% 61.24%
AATI05/26/2011Skyworks Solutions, Inc. (SWKS)$5.39$4.6409/30/2011 16.13% 327.05%
CRU05/05/2011Capital Product Partners L.P. (CPLP)$9.91$9.2409/30/2011 7.21% 146.16%
NXG08/29/2011AuRico Gold Inc. (AUQ)$4.27$4.0010/31/2011 6.76% 50.37%
MMI08/15/2011Google (GOOG)$40.00$37.5001/31/2012 6.67% 17.26%

List of all pending deals:

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