Merger Arbitrage Mondays – December 10, 2012
Merger activity increased last week with four new deals announced and six deals 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 Young Innovations (YDNT) by an affiliate of Linden Capital Partners for $314 million or $39.50 per share in cash.
- The acquisition of Plains Exploration & Production Company (PXP) by Freeport-McMoRan Copper & Gold (FCX) for $6.9 million in a cash and stock deal, where shareholders of Plains Exploration & Production Company will receive $25.00 in cash and 0.6531 shares of FCX common stock.
- The acquisition of McMoRan Exploration (MMR) by Freeport-Mc-MoRan Copper & Gold (FCX) for $3.4 billion or $14.75 per share in cash and 1.15 units of a royalty trust, which will hold a 5 percent overriding royalty interest in future production from MMR’s existing ultra-deep exploration properties. We are treating this as an all-cash deal and not including the 1.15 units of the royalty trust in calculating the spread.
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