Merger Arbitrage Mondays – October 03, 2011

  • October 3, 2011

Merger activity decreased last week with one new deal 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 2011154
Total Number of Deals Not Completed in 20112
Total Number of Pending Deals
Cash Deals34
Stock Deals22
Stock & Cash Deals8
Total Number of Pending Deals64

New Deals:

  1. The acquisition of Harleysville Group (HGIC) by Nationwide Mutual Insurance for $760 million or $60.00 per share in cash.


Updated Deals:

  1. On September 27, 2011, Renaissance Learning (RLRN) agreed to be bought by Permira Funds for about $455 million or $15.50 per share in cash after the private equity firm sweetened its offer to match a rival takeover bid from Plato Learning.

Closed Deals:

  1. The acquisition of Global Traffic Network (GNET) by GTCR Gridlock Holdings on September 28, 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)$1.01$0.68009/30/2011

48.90%

-5949.14%

MHS07/21/2011Express Scripts, Inc. (ESRX)$58.83$46.8906/30/2012

25.46%

34.29%

AATI05/26/2011Skyworks Solutions, Inc. (SWKS)$5.25$4.3309/30/2011

21.18%

-2576.66%

TAM01/19/2011LAN Airlines S.A. (LFL)$18.59$15.5812/31/2011

19.29%

79.10%

HRBN06/20/2011Tech Full Electric Company Limited (N/A)$24.00$20.6512/31/2011

16.22%

66.53%

FNDT06/27/2011S1 Corporation (SONE)$24.94$23.0812/31/2011

8.07%

33.09%

LOOP04/27/2011CoStar Group (CSGP)$18.42$17.1312/31/2011

7.55%

30.98%

MMI08/15/2011Google (GOOG)$40.00$37.7801/31/2012

5.88%

17.87%

GR09/21/2011United Technologies Corp. (UTX)$127.50$120.6812/31/2069

5.65%

0.10%

ENP07/11/2011Vanguard Natural Resources (VNR)$19.57$18.7212/31/2011

4.53%

18.57%

List of all pending deals:

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