Merger Arbitrage Mondays – August 6, 2012
Merger activity dropped last week with two new deals announced and seven 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 Shaw Group (SHAW) by Chicago Bridge & Iron Company (CBI) for $3 billion in a cash plus stock deal. Under the terms of the agreement, Shaw’s shareholders will receive $41.00 in cash and $5.00 in CB&I equity (0.12883 shares based on an agreed upon recent average stock price of $38.81 per share) for each share of Shaw stock at closing. This is a bold acquisition by CBI of a company that is almost as large as itself in terms of enterprise value and larger in terms of revenue. At 15.77% the spread is unusually large and reflects potential concerns about CBI’s ability to raise the capital required to close this deal or about shareholder dissent.
- The acquisition of NextWave Wireless (WAVE) by AT&T (T) for $600 million or $1.00 per share in cash.
Only plus or premium subscribers can access this post. Subscribe today.
