Merger Arbitrage Mondays – May 14, 2012
Merger activity plunged last week with two new deals announced and one closing. In contrast, I had the good fortune of reviewing the details of 13 new deals last Sunday night.
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 GTSI Corp. (GTSI) by an affiliate of UNICOM Systems for $76.67 million or $7.75 per share in cash. The tender offer is not subject to any financing contingencies.
- The acquisition of Cost Plus (CPWM) by Bed Bath & Beyond (BBBY) for $495 million or $22.00 per share in cash. It is interesting to see Bed Bath & Beyond make a brick-and-mortar acquisition in light of companies like Best Buy (BBY) and Sears (SHLD) closing stores. Bed Bath & Beyond is paying nearly 12 times EBITDA for a company with low single digit margins.
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