Merger Arbitrage Mondays – August 20, 2012
Merger activity increased last week with five new deals announced and 3 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 Comverse Technology (CMVT) by Verint Systems (VRNT) for $805.7 million in an all stock deal. Comverse currently holds approximately 41% of Verint’s common shares and all of Verint’s outstanding convertible preferred shares. The deal is expected to close in the fiscal first quarter ending April 2013.
- The acquisition of Taro Pharmaceutical Industries (TARO) by Sun Pharmaceutical Industries for $1.45 billion or $39.50 in an all cash transaction. Sun Pharmaceutical already owns 66% of Taro’s ordinary shares and 100% of the shares of Taro’s founders, giving it 77.5 % of the voting rights in the company.
- The acquisition of FSI International (FSII) by Tokyo Electron for $252.5 million or $6.20 per share in an all cash deal. The deal is expected to close by the end of 2012.
Only plus or premium subscribers can access this post. Subscribe today.
