Merger Arbitrage Mondays – January 16, 2012
Merger activity increased last week with two new deals announced and two closing. Georgia Gulf (GGC) received an unsolicited $1.03 billion or $30/share offer from Westlake Chemical (WLK) and stock shot up 34.52% to $32.93 on expectations of a rival bid. Since this is an unsolicited bid that is yet to be accepted, we have not included the deal in our database.
You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
New Deals:
- The acquisition of Inhibitex (INHX) by Bristol-Myers Squibb (BMY) for $2.5 billion or $26 per share in cash.
- China GrenTech Corporation Limited (GRRF) accepted the going private offer it received on November 14, 2011 from Talenthome Management Limited, which is jointly owned indirectly by Mr. Yingjie Gao, China GrenTech’s Chairman and Chief Executive Officer, Ms. Rong Yu, China GrenTech’s Director and Chief Financial Officer. Shareholders will receive $0.126 in cash for each ordinary share they hold. Since each American Depository Share (ADS) represents 25 ordinary shares, ADS holders will receive $3.15 per ADS. The transaction is expected to close before the end of the second quarter of 2012.
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