Merger Arbitrage Mondays – July 2, 2012
Merger activity decreased last week with two new deals announced and two closing.
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 J. Alexander’s Corp (JAX) by Fidelity National Financial (FNF) for $72 million or $12.00 per share in cash. Shareholders of J. Alexander’s can elect to receive $12 per share in cash or a combination of $3 in cash and one share of Class A common stock of American Blue Ribbon Holdings Inc (ABRH), a majority owned subsidiary of Fidelity. When issued, the ABRH shares will be listed for trading on Nasdaq.
- The acquisition of Elster Group (ELT) by Melrose PLC for $2.3 billion in an all cash transaction, where Melrose will acquire all outstanding American Depositary Shares (ADS) of Elster for $20.50 per ADS in cash. Each ADS represents one-fourth of one ordinary share of Elster.
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