+ | VTRO | 10/17/2011 | Inuvo, Inc. (INUV) | All Stock | N/A | $1.58 | $1.26 | 59,674 | 03/31/2012 | 25.15% | 135.01% |
Details of Vertro, Inc. Expected to close in the fourth quarter of 2011 or the first quarter of 2012. Upon completion of the merger, shareholders of Vertro will receive 1.546 shares of Inuvo common stock per each share of Vertro common stock. |
+ | VQ | 01/16/2012 | Denver Parent Corporation (N/A) | All Cash | $1.5 billion | $12.50 | $10.59 | N/A | 03/31/2012 | 18.04% | 96.81% |
Details of Venoco Venoco (VQ) agrees to a going private transaction where its CEO, who owns 50.3% of its common stock, bid $1.5 billion or $12.50/share in an all cash transaction. |
+ | MHS | 07/21/2011 | Express Scripts, Inc. (ESRX) | Cash Plus Stock | $29.1 billion | $70.84 | $62.34 | 6,421,850 | 06/30/2012 | 13.63% | 31.30% |
Details of Medco Health Solutions Expected to close in the first half of 2012 for a closing value of $29.1 billion. Upon completion of the merger, Medco shareholders will receive $28.80 in cash and 0.81 shares for each Medco share they own. |
+ | LOOP | 04/27/2011 | CoStar Group (CSGP) | Cash Plus Stock | $860 million | $18.74 | $16.77 | 118,877 | 01/31/2012 | 11.77% | 536.89% |
Details of LoopNet Expected to close by the end of the year in a cash plus stock deal. Upon completion of the merger, LoopNet shareholders will receive $16.50 in cash and 0.03702 shares of CoStar Group common stock per share held. Update(s) January 04, 2012: LoopNet and CoStar agreed to further extend the the waiting period imposed by the Hart-Scott-Rodino Act to allow the firms to engage in discussions with the U.S. Federal Trade Commission (“FTC”) to determine whether there is a possible basis for, and to discuss the possible terms of, a mutually acceptable consent order that would allow the merger of the two firms to close. |
+ | CMFB | 12/20/2011 | Sandy Spring Bancorp Inc. (SASR) | All Stock | $25.4 million | $14.95 | $13.50 | 1,274 | 06/30/2012 | 10.76% | 24.69% |
Details of Commercefirst Bancorp Inc. Expected to close in the second quarter of 2012 for a closing value of $25.4 million in a cash plus stock deal, where shareholders of CommerceFirst Bancorp will receive 0.8043 Sandy Spring shares for each CommerceFirst share and the cash consideration will be $13.60 per share.
|
+ | EP | 10/16/2011 | Kinder Morgan, Inc. (KMI) | Cash Plus Stock | $21 billion | $29.33 | $26.87 | 7,507,740 | 06/30/2012 | 9.16% | 21.02% |
Details of El Paso Corp. Expected to close in early 2012 for a closing value of $21 billion in a cash plus stock deal. Upon completion of the merger, shareholders of El Paso Corporation will receive $26.87 per share, which consists of $14.65 in cash, 0.4187 Kinder Morgan shares — valued at $11.26 per EP share — and 0.640 Kinder Morgan warrants — valued at $0.96 per EP share — based on Kinder Morgan’s closing price on Friday, October 14, 2012. |
+ | GRRF | 01/12/2012 | Talenthome Management Limited (N/A) | All Cash | $71.45 milion | $3.15 | $2.90 | 114,857 | 06/30/2012 | 8.62% | 19.79% |
Details of China GrenTech 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. |
+ | INHX | 01/07/2012 | Bristol-Myers Squibb Company (BMY) | All Cash | $2.5 billion | $26.00 | $24.42 | 3,823,343 | 03/31/2012 | 6.47% | 34.73% |
Details of Inhibitex, Inc. Expected to close in the first quarter of 2012 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Inhibtex will receive $26.00 per share in cash. |
+ | CTBC | 10/26/2011 | Berkshire Hills Bancorp, Inc. (BHLB) | All Stock | $30 million | $8.71 | $8.20 | 2,355 | 04/30/2012 | 6.26% | 23.32% |
Details of The Connecticut Bank and Trust Expected to close early in the second quarter of 2012 for a closing value of $30 million in an all stock deal. Upon completion of the merger, The Connecticut Bank and Trust Company shareholders will receive either $8.25 per share in cash, or 0.3810 shares of Berkshire Hills Bancorp per share held. Under the terms of the merger agreement, 70% of the outstanding CBT shares will be exchanged for Berkshire shares at a fixed exchange ratio of 0.3810 Berkshire shares for each share of CBT. The remaining 30% of CBT shares will be exchanged for cash in the amount of $8.25 per share. |
+ | CRIC | 12/28/2011 | E-House (China) Holdings (EJ) | Cash Plus Stock | $603 million | $5.45 | $5.18 | 47,080 | 06/30/2012 | 5.14% | 11.79% |
Details of China Real Estate Information Corporation E-House (China Holdings) has entered into a definitely agreement to acquire the remaining shares of China Real Estate Information Corporation (CRIC) that it does not already own for a cash plus stock deal valued at $603 million or a 5.6% premium. CRIC shareholders will receive $1.75 per share in cash and 0.6 shares of E-house. The transaction is expected to close in mid-2012. |
+ | TAM | 01/19/2011 | LAN Airlines S.A. (LFL) | All Stock | N/A | $22.46 | $21.38 | 285,026 | 06/30/2012 | 5.07% | 11.64% |
Details of TAM S.A. Completion of this transaction is expected to take between six to nine months. On the completion of merger TAM shareholders will receive 0.90 shares in LAN for each TAM share they hold. Shares of LAN Airlines SA of Chile and Brazilian carrier TAM SA fell sharply Monday, January 31, 2011, as investors reacted to the Chilean antitrust court’s move late Friday to suspend their proposed merger. Update March 18, 2011: Chile’s LAN Airlines (LFL) said a regulatory investigation into complaints about the merger could take between 6 to 9 months and the merger will most likely not complete before the fourth quarter. We have updated the closing date to 12/31/2011. December 12, 2011: The merger between Chilean airline LAN LAN.SN and Brazilian counterpart TAM is expected to close in the first quarter of 2012. |
+ | HGIC | 09/29/2011 | Nationwide Mutual Insurance Co (N/A) | All Cash | $760 million | $60.00 | $57.24 | 52,137 | 01/31/2012 | 4.82% | 219.99% |
Details of Harleysville Group Inc. Expected to close in early 2012 for a closing value of $760 million. Upon completion of the merger, shareholders of Harleysville Group will receive $60.00 per share in cash. |
+ | CADC | 10/24/2011 | Novel Gain Holdings Limited (N/A) | All Cash | N/A | $2.65 | $2.53 | 141,798 | 03/31/2012 | 4.74% | 25.46% |
Details of China Advanced Construction Materials Group, Inc. Expected to close in the first quarter of 2012. Upon completion of the merger, China Advanced Construction Materials Group shareholders will receive $2.65 per share in cash. Essentially this is a going private transaction with CADC emerging as the surviving entity. |
+ | BLD | 12/23/2011 | Forsyth Baldwin, LLC (N/A) | All Cash | $27.3 million | $0.96 | $0.92 | 1,100 | 06/30/2012 | 4.35% | 9.98% |
Details of Baldwin Technology Co. Inc. Expected to close in the second quarter of 2012 for a closing value of $27.3 million. Upon completion of the merger, shareholders of Baldwin Technology will receive $0.96 per share in cash, subject to adjustment at closing based on certain criteria, including the extent that the difference between Baldwin Technology’s aggregate cash balances and the balance of aged accounts payable is less than $1,800,000. |
+ | TOBC | 06/20/2011 | Susquehanna Bancshares (SUSQ) | All Stock | $343 million | $32.20 | $31.06 | 73,274 | 03/31/2012 | 3.66% | 19.66% |
Details of Tower Bancorp Expected to close in the first quarter of 2012 for a closing value of $343 million in a cash or stock transaction, where Tower Bancorp shareholders will receive either 3.4696 shares of Susquehanna Bancshares common stock or $28.00 in cash per share held with $88 million of the aggregate consideration being paid in cash. Since a majority of the consideration will be paid out as stock, we have classified this deal as an all stock deal in our Merger Arbitrage Tool. |
+ | MMI | 08/15/2011 | Google (GOOG) | All Cash | $12.5 billion | $40.00 | $38.66 | 3,035,274 | 01/31/2012 | 3.47% | 158.14% |
Details of Motorola Mobility Holdings, Inc. Expected to close by the end of 2011 or early 2012 for a closing value of $12.5 billion. Upon completion of the merger, shareholders of Motorola Mobility Holdings will receive $40.00 per share in cash. |
+ | GR | 09/21/2011 | United Technologies Corp. (UTX) | All Cash | $18.4 billion | $127.50 | $124.29 | 598,219 | 06/30/2012 | 2.58% | 5.93% |
Details of Goodrich Corp. Expected to close in mid-2012 for a closing value of $18.4 billion. Upon completion of the merger, shareholders of Goodrich Corporation will receive $127.50 per share in cash. |
+ | PGN | 01/10/2011 | Duke Energy Corporation (DUK) | All Stock | $13.7 billion | $55.65 | $54.26 | 1,444,333 | 03/31/2012 | 2.55% | 13.71% |
Details of Progress Energy Inc. Expected to close in the first quarter of 2012. Progress Energy’s shareholders will receive 2.6125 shares of common stock of Duke Energy in exchange for each share of Progress Energy common stock. Based on Duke Energy’s closing share price on Jan. 7, 2011, Progress Energy shareholders would receive a value of $46.48 per share, or $13.7 billion in total equity value. |
+ | LAVA | 11/30/2011 | Synopsys Inc. (SNPS) | All Cash | $507 million | $7.35 | $7.17 | 1,430,188 | 03/31/2012 | 2.51% | 13.48% |
Details of Magma Design Automation Inc. Expected to close in the first quarter of 2012 for a closing value of $507 million. Upon completion of the merger, shareholders of Magma Design Automation will receive $7.35 per share in cash. |
+ | PARL | 12/23/2011 | Perfumania Holdings, Inc. (PERF) | All Stock | $170 million | $5.47 | $5.35 | 187,458 | 06/30/2012 | 2.18% | 5.00% |
Details of Parlux Fragrances Inc. Expected to close in the first half of 2012 for a closing value of $170 million in an all stock deal, where shareholders of Parlux fragrances can elect to receive either $4.00 in cash plus 0.20 shares of Perfumania common stock or (ii) .53333 shares of Perfumania common stock, subject to proration.
The maximum amount of cash that will be paid as merger consideration is $61,895,288, and the maximum number of Perfumania shares issuable in the merger is 5,919,052. |
+ | RRR | 12/16/2011 | United Rentals, Inc. (URI) | Cash Plus Stock | $1.9 billion | $20.40 | $19.97 | 880,004 | 06/30/2012 | 2.13% | 4.89% |
Details of RSC Holdings, Inc. Expected to close in the first half of 2012 for a closing value of $1.9 billion in a cash plus stock deal, where shareholders of RSC Holdings will receive $10.80 in cash and 0.2783 share of United Rentals. |
+ | NVLS | 12/14/2011 | Lam Research Corp (LRCX) | All Stock | $3.3 billion | $47.51 | $46.63 | 3,601,564 | 06/30/2012 | 1.88% | 4.33% |
Details of Novellus Systems, Inc. Expected to close in the second calendar quarter of 2012 for a closing value of $3.3 billion in an all stock deal. Upon completion of the merger, shareholder of Novellus Systems will receive 1.125 shares of Lam Research common stock for each share of Novellus that they own. common stock for each share of Novellus that they own |
+ | NST | 10/18/2010 | Northeast Utilities (NU) | All Stock | $4.17 billion | $45.08 | $44.31 | 582,874 | 03/31/2012 | 1.74% | 9.33% |
Details of NSTAR Expected to close in the first quarter of 2012 for a closing value of $4.17 billion. On the completion of the merger, NSTAR shareholders will receive 1.312 Northeast Utilities common shares for each NSTAR held. |
+ | SNDA | 11/22/2011 | Premium Lead Company Limited (“Parent”) and New Era Investment Holding Ltd. (N/A) | All Cash | $2.3 billion | $41.35 | $40.65 | 48,921 | 03/31/2012 | 1.72% | 9.24% |
Details of Shanda Interactive Entertainment Ltd. Expected to close before the end of the first quarter 2012 for a closing value of $2.3 billion. Upon completion of the merger, shareholders of Shanda Interactive Entertainment Ltd. will receive US$20.675 per ordinary share or US$41.35 per American Depositary Share, each representing two ordinary shares (“ADS”). |
+ | CEG | 04/28/2011 | Exelon Corporation (EXC) | All Stock | $7.9 billion | $36.60 | $35.99 | 2,136,637 | 01/31/2012 | 1.71% | 77.94% |
Details of Constellation Energy Group Expected to close in early 2012 for a closing value of $7.9 billion in an all-stock deal. Upon completion of the merger, Constellation shareholders will receive 0.93 shares of Exelon for each Constellation share. |
+ | TRH | 11/21/2011 | Alleghany Corporation (Y) | Cash Plus Stock | $3.4 billion | $55.73 | $55.07 | 477,662 | 03/31/2012 | 1.19% | 6.40% |
Details of Transatlantic Holdings Inc. Expected to close in the first quarter of 2012 for a closing value of $3.4 billion in a stock plus cash deal. Upon completion of the merger, shareholders of Transatlantic Holdings will receive 0.145 Alleghany common shares and $14.22 in cash. |
+ | SONE | 10/03/2011 | ACI Worldwide (ACIW) | Cash Plus Stock | $516 million | $9.93 | $9.83 | 200,349 | 01/30/2012 | 1.00% | 51.97% |
Details of S1 Corporation Expected to close by January 01, 2012 for a closing value of $516 million. Upon completion of the merger, S1 shareholders will receive $6.62 in cash and 0.1064 shares of ACI Worldwide common stock per S1 share held, subject to proration such that in the aggregate 33.8% of S1 shares are exchanged for ACI Worldwide shares and 66.2% are exchanged for cash. Update: December 29, 2011: ACI Worldwide (ACIW) announced that it has extended its exchange offer for all of the outstanding shares of common stock of S1 Corporation until 5:00 p.m. Eastern time on Monday, January 30, 2012, unless further extended. |
+ | DFG | 12/21/2011 | Tokio Marine Holdings (N/A) | All Cash | $2.7 billion | $44.80 | $44.41 | 482,590 | 06/30/2012 | 0.88% | 2.02% |
Details of Delphi Financial Group, Inc. Expected to close in the second quarter of 2012 for a closing value of $2.7 billion, Upon completion of the merger, shareholders of Delphi Financial will receive $43.875 per Class A share and $52.875 per Class B share in cash, through TMHD’s wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF). In addition, Delphi shareholders will receive $1.00 in cash per share pursuant to a one-time special dividend from Delphi for each share of Class A and Class B stock they own. |
+ | TIN | 09/06/2011 | International Paper (IP) | All Cash | $4.3 billion | $32.00 | $31.74 | 1,366,183 | 03/31/2012 | 0.82% | 4.40% |
Details of Temple-Inland Expected to close in the first quarter of 2012 for a closing value of $4.3 billion. Upon completion of the merger, shareholders of Temple-Inland will receive $32.00 per share in cash. |
+ | CNVO | 01/17/2012 | Blackbaud (BLKB) | All Cash | $275 million | $16.00 | $15.90 | 2,349,827 | 03/31/2012 | 0.63% | 3.38% |
Details of Convio Blackbaud (BLKB) has agreed to pay a 49% premium to acquire Convio (CNVO) in an all cash deal valued at $275 million or $16/share. The transaction is expected to close by the end of the first quarter of 2012. |
+ | WCAA | 12/21/2011 | Macquarie Infrastructure Partners II (N/A) | All Cash | $526 million | $6.50 | $6.46 | 367,382 | 03/31/2012 | 0.62% | 3.32% |
Details of WCA Waste Corporation Expected to close in the first quarter of 2012 for a closing value of $526 million. Upon completion of the merger, shareholders of WCA Waste Corporation will receive $6.50 per share in cash. |
+ | RNOW | 10/24/2011 | Oracle (ORCL) | All Cash | $1.5 billion | $43.00 | $42.75 | 875,827 | 03/31/2012 | 0.58% | 3.14% |
Details of Rightnow Technologies Inc. Expected to close by late 2011 or early 2012 for a closing value of $1.5 billion. Upon completion of the merger, shareholders of RightNow will receive $43.00 per share in cash. |
+ | VPF | 11/17/2011 | CTS Corp (N/A) | All Cash | $18 million | $4.15 | $4.13 | 2,146 | 01/31/2012 | 0.48% | 22.09% |
Details of Valpey Fisher Corporation Expected to close in January 2012 for a closing value of $18 million. Upon completion of the merger, shareholders of Valpey-Fisher Corporation will receive $4.15 per share in cash, |
+ | NETL | 09/12/2011 | Broadcom (BRCM) | All Cash | $3.7 billion | $50.00 | $49.76 | 249,981 | 06/30/2012 | 0.48% | 1.11% |
Details of NetLogic Microsystems Inc. Expected to close in the first half of 2012 for a closing value of $3.7 billion. Upon completion of the merger, shareholders of NetLogic Microsystems will receive $50.00 per share in cash. |
+ | BCSI | 12/09/2011 | Thoma Bravo, LLC (N/A) | All Cash | $1.3 billion | $25.81 | $25.70 | 265,908 | 03/31/2012 | 0.43% | 2.30% |
Details of Blue Coat Systems Inc Expected to close in the first calendar quarter of 2012 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of Blue Coat Systems will receive $25.81 per share in cash. |
+ | WINN | 12/19/2011 | BI-LO, LLC (N/A) | All Cash | $560 million | $9.50 | $9.46 | 382,367 | 04/30/2012 | 0.42% | 1.57% |
Details of Winn-Dixie Stores Inc. Expected to close in the next 60 to 120 days for a closing value of $560 million. Upon completion of the merger, shareholders of Winn-Dixie Stores will receive $9.5 per share in cash. |
+ | PNS | 11/10/2011 | Avnet (AVT) | All Cash | $22 million | $2.40 | $2.39 | 7,225 | 01/31/2012 | 0.42% | 19.09% |
Details of Pinnacle Data Systems Inc. Expected to close in 60 to 90 days for a closing value of $22 million. Upon completion of the merger, shareholders of Pinnacle Data Systems will receive $2.30 per share in cash. |
+ | HS | 10/24/2011 | Cigna (CI) | All Cash | $3.8 billion | $55.00 | $54.79 | 404,419 | 06/30/2012 | 0.38% | 0.88% |
Details of HealthSpring Inc. Expected to close in the first half of 2012 for a closing value of $3.8 billion. Upon completion of the merger, shareholders of Healthspring will receive $55.00 per share in cash. |
+ | CV | 07/12/2011 | Gaz metro Limited Partnership (N/A) | All Cash | $702 million | $35.25 | $35.12 | 49,640 | 06/30/2012 | 0.37% | 0.85% |
Details of Central Vermont Public Service Corp. On July 12, 2011, Central Vermont Public Services terminated its agreement with Fortis after deeming “superior” the offer from Gaz Métro. Expected to close in six to twelve months for a closing value of $702 million. Upon completion of the merger, Central Vermont Public Services shareholders will receive $35.25 per share in cash. |
+ | CPX | 10/10/2011 | Superior Energy Services (SPN) | Cash Plus Stock | $2.7 billion | $32.89 | $32.78 | 960,004 | 03/31/2012 | 0.34% | 1.85% |
Details of Complete Production Services Expected to close in the first quarter if 2012 for a closing value of $2.7 billion in a cash plus stock deal, where Complete stockholders will receive 0.945 common shares of Superior and cash of $7.00 in exchange for each share of Complete common stock held at closing. |
+ | DMAN | 12/08/2011 | International Business Machines Corp. (IBM) | All Cash | $440 million | $13.20 | $13.16 | 264,729 | 03/31/2012 | 0.30% | 1.63% |
Details of DemandTec, Inc. Expected to close in the first quarter of 2012 for a closing value of $440 million. Upon completion of the merger, shareholders of DemandTec will receive $13.20 per share in cash. |
+ | SNSTA | 11/03/2011 | SAC an affiliate of Hospitality Properties Trust (N/A) | All Cash | $174 million | $31.00 | $30.91 | N/A | 03/31/2012 | 0.29% | 1.56% |
Details of Sonesta International Hotels Corp. Expected to close in the first quarter of 2012 for a closing value of $174 million. Upon completion of the merger, shareholders of Sonesta International Hotels will receive $31.00 per share in cash. |
+ | MRT | 12/16/2011 | Fertitta Morton (N/A) | All Cash | $116.6 million | $6.90 | $6.88 | 14,536 | 02/15/2012 | 0.29% | 4.61% |
Details of Morton’s Restaurant Group, Inc. Expected to close by early February 2012 for a closing value of $116.6 million. Upon completion of the merger, shareholders of Morton’s Restaurant Group will receive $6.9 per share in cash. |
+ | SFSF | 12/03/2011 | SAP AG (SAP) | All Cash | $3.4 billion | $40.00 | $39.89 | 962,103 | 03/31/2012 | 0.28% | 1.48% |
Details of SuccessFactors, Inc. Expected to close in the first quarter of 2012 for a closing value of $3.4 billion. Upon completion of the merger, shareholders of SuccessFactors will receive $40.00 per share in cash. |
+ | SYNO | 12/13/2011 | Baxter International Inc. (BAX) | All Cash | $325 million | $28.00 | $27.93 | 46,708 | 03/31/2012 | 0.25% | 1.35% |
Details of Synovis Life Technologies Inc. Expected to close in the first quarter of 2012 for a closing value of $325 million. Upon completion of the merger, shareholders of Synovis will receive $28.00 per share in cash. |
+ | SONO | 12/15/2011 | FUJIFILM Holdings Corporation (N/A) | All Cash | $995 million | $54.00 | $53.87 | 250,552 | 03/31/2012 | 0.24% | 1.30% |
Details of SonoSite Inc. Expected to close in the third quarter of 2012 for a closing value of $995 million. Upon completion of the merger, shareholders of SonoSite will receive $54.00 per share in cash. |
+ | TKLC | 11/07/2011 | a consortium led by Siris Capital Group, LLC (N/A) | All Cash | $780 million | $11.00 | $10.98 | 307,893 | 03/31/2012 | 0.18% | 0.98% |
Details of Tekelec Expected to close in the first quarter of 2012 for a closing value of $780 million. Upon completion of the merger, shareholders of Tekelec will receive $11.00 per share in cash. |
+ | ADPI | 11/07/2011 | JLL Partners, Inc. (N/A) | All Cash | $398 million | $19.00 | $18.97 | 312,489 | 03/31/2012 | 0.16% | 0.85% |
Details of American Dental Partners, Inc. Expected to close in the first quarter of 2012 for a closing value of $398 million. Upon completion of the merger, shareholders of American Dental Partners will receive $19.00 per share in cash. |
+ | PNNW | 11/12/2010 | City of Nashua (N/A) | All Cash | $138 million | $29.00 | $28.99 | 29,266 | 02/03/2012 | 0.03% | 1.14% |
Details of Pennichuk Corporation Expected to close on February 03, 2012 for a closing value of $138 million. On the completion of the merger, Pennichuck shareholders will receive $29.00 per share in cash. |
+ | CSA | 12/27/2011 | Ventas, Inc. (VTR) | All Cash | $700 million | $4.25 | $4.25 | 418,441 | 06/30/2012 | 0.00% | 0.00% |
Details of Cogdell Spencer Inc. Ventas is buying Cogdell Spencer for $4.25/share in cash. The deal is approximately worth between $760 and $770 million and is expected to close in the second quarter of 2012. |
+ | SUG | 06/16/2011 | Energy Transfer Equity (ETE) | All Stock | $9.4 billion | $42.28 | $43.25 | 1,546,770 | 03/31/2012 | -2.24% | -12.04% |
Details of Southern Union Company Expected to close in the first quarter of 2012 for a closing value of $7.9 billion. Upon completion of the merger, Southern Union Company’s shareholders will receive $33.00 per share in series B units of ELMG. These series B units are expected to list on the NYSE and will have an annualized distribution yield of 8.25%. ETE has the option to redeem the Series B Units at any time after the closing of the transaction. Update(s) June 24, 2011: Southern Union Company (NYSE:SUG) received a proposal by The Williams Companies, Inc. (NYSE: WMB) to acquire all of the outstanding shares of Southern Union for $39.00 per share in cash. July 05, 2011: Energy Transfer Equity, L.P. (NYSE:ETE) and Southern Union Company (NYSE:SUG) today announced that they have entered into an amended and restated merger agreement under which ETE will acquire SUG for $8.9 billion, including $5.1 billion in cash and ETE common units. Under the terms of the revised agreement, which has been unanimously approved by the boards of directors of both companies, SUG shareholders can elect to exchange their common shares for $40.00 of cash or 0.903 ETE common units. The maximum cash component is 60% of the aggregate consideration and the common unit component can fluctuate between 40% and 50%. Elections in excess of either the cash or common unit limits will be subject to proration. July 14, 2011: Southern Union Company (SUG) confirmed receipt of a revised proposal by The Williams Companies, Inc. (WMB) to acquire all of the outstanding shares of Southern Union for $44.00 per share in cash. July 19, 2011: Energy Transfer Equity (ETE) upped its bid for Southern Union to $44.25 a share for an enterprise value of $9.4 billion including debt. Shareholders can elect to receive either $44.25 per share cash or one unit of ETE, with 60% of the new bid payable in cash. To keep things conservative, we are treating this deal as an all stock deal. |
+ | HNB | 06/02/2011 | BankUnited Inc. (BKU) | Cash Plus Stock | $71.4 million | $3.60 | $3.70 | 650 | 03/31/2012 | -2.75% | -14.76% |
Details of Herald National Bank Expected to close in the first quarter of 2012 for a closing value of $71.4 million. Upon completion of the merger, Herald National Bank shareholders will receive either cash or BankUnited common stock with a value of $1.35 in cash and 0.099 shares of BankUnited common stock, subject to proration. |
+ | BXG | 11/14/2011 | BFC Financial Corporation (BFCF.PK) | All Stock | N/A | $2.80 | $2.90 | 3,832 | 06/30/2012 | -3.45% | -7.92% |
Details of Bluegreen Corporation Expected to close in the first half of 2012 in an all stock deal, where shareholders of Bluegreen Corporation will be entitled to receive eight shares of BFC’s Class A Common Stock for each share of Bluegreen’s Common Stock they hold at the effective time of the merger. |
+ | NYX | 02/15/2011 | Deutsche Boerse (N/A) | All Stock | N/A | $19.06 | $27.45 | 2,510,779 | 03/31/2012 | -30.57% | -164.09% |
Details of NYSE Euronext Expected to close in the first quarter of 2012 in an all stock deal. On the completion of the merger NYSE Euronext shareholders will receive 0.4700 of a share of Deutsche Boerse common stock per share held. Update April 1, 2011: The Nasdaq (NDAQ) and ICE have made a joint offer for NYSE Euronext (NYX) that is worth $43 as of April 1, 2011. |