Merger Arbitrage Mondays – November 19, 2012
Merger activity decreased last week with four new deals announced.
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 Jefferies Group (JEF) by Leucadia National (LUK) in an all stock deal. Under the terms of the agreement, shareholders of Jefferies Group will receive 0.81 of a share of Leucadia common stock for each share of Jefferies common stock they hold. This presentation has additional information about the merger including the impact of spinning out the Crimson Wine business.
- The acquisition of Titanium Metals Corporation (TIE) by Precision Castparts (PCP) for $2.9 billion or $16.50 per share in cash. Titanium Metals is one of five public companies controlled or managed by Harold Simmons, considered by some as the father of the leveraged buyout (LBO). Wikipedia provides an introduction to Harold Simmons and his group of companies but for more color check out the article titled Harold Simmons is Dallas’ Most Evil Genius by D magazine.
- The acquisition of Teavana Holdings (TEA) by Starbucks Corporation (SBUX) for $620 million or $15.50 per share in cash.
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