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Merger Arbitrage Mondays – December 31, 2012

  • December 31, 2012

Merger activity decreased last week with three new deals announced and two 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:

Total Number of Deals Closed in 2012186
Total Number of Deals Not Completed in 20125
Total Number of Pending Deals
Cash Deals49
Stock Deals14
Stock & Cash Deals8
Total Number of Pending Deals71
Total Deal Size$559.51 billion

New Deals:

  1. The acquisition of BCD Semiconductor Manufacturing Limited (BCDS) by Diodes Incorporated (DIOD) for $151 million or $8.00 per American Depositary Share (ADS)  in cash.
  2. The acquisition of NTS Realty Holdings (NLP) by Founder Chairman J.D. Nichols and President and CEO Brian F. Lavin for $7.50 per unit in cash.
  3. The acquisition of Duff & Phelps Corporation (DUF) by a consortium (“the Consortium”) comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group for $665.5 million or $15.55 per share in cash.

Closed Deals:

  1. The acquisition of AMERIGROUP Corporation (AGP) by WellPoint (WLP) on December 27, 2012.
  2. The acquisition of Fushi Copperweld (FSIN) by Chairman and Co-Chief Executive Officer, Mr. Li Fu, and Abax Global Capital (Hong Kong) Limited on December 28, 2012.

Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

DUF12/30/2012a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group (N/A)$15.55$13.0506/30/201319.16%38.63%
ECBE09/25/2012Crescent Financial Bancshares, Inc. (CRFN)$16.33$14.1603/31/201315.32%62.15%
SOMX12/11/2012Pernix Therapeutics Holdings, Inc. (PTX)$3.48$3.0906/30/201312.62%25.45%
WSB09/10/2012Old Line Bancshares, Inc. (OLBK)$6.32$5.7806/30/20139.35%18.85%
VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)$1.19$1.0912/31/20129.08%0.00%
FMCN12/19/2012Giovanna Parent Limited (N/A)$27.50$25.5906/30/20137.46%15.05%
KCG12/19/2012GETCO Holding Company (N/A)$3.75$3.4906/30/20137.45%15.02%
OUTD11/16/2012InterMedia Outdoors Holdings, LLC (N/A)$8.00$7.5303/31/20136.24%25.31%
BXG11/14/2011BFC Financial Corporation (BFCF)$10.00$9.4412/31/20125.93%0.00%
BCDS12/26/2012Diodes Incorporated (DIOD)$8.00$7.6003/31/20135.26%21.35%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.


SymbolAnnounced

Date

Acquiring

Company

Deal

Type

Closing

Value

Closing

Price

Last

Price

VolumeClosing

Date

ProfitAnnu.

Profit

+DUF12/30/2012a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group (N/A)All Cash$665.5 million$15.55$13.05N/A06/30/201319.16%38.63%
+ECBE09/25/2012Crescent Financial Bancshares, Inc. (CRFN)All Stock$51.6 million$16.33$14.1660003/31/201315.32%62.15%
+SOMX12/11/2012Pernix Therapeutics Holdings, Inc. (PTX)All Cash$25 million$3.48$3.0990,90006/30/201312.62%25.45%
+WSB09/10/2012Old Line Bancshares, Inc. (OLBK)All Stock$49 million$6.32$5.7850006/30/20139.35%18.85%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.19$1.09N/A12/31/20129.08%0.00%
+FMCN12/19/2012Giovanna Parent Limited (N/A)All Cash$3.7 billion$27.50$25.591,022,20406/30/20137.46%15.05%
+KCG12/19/2012GETCO Holding Company (N/A)All Cash$1.4 billion$3.75$3.492,486,81606/30/20137.45%15.02%
+OUTD11/16/2012InterMedia Outdoors Holdings, LLC (N/A)All CashN/A$8.00$7.5335,57803/31/20136.24%25.31%
+BXG11/14/2011BFC Financial Corporation (BFCF)All Cash$150 million$10.00$9.4470,06912/31/20125.93%0.00%
+BCDS12/26/2012Diodes Incorporated (DIOD)All Cash$151 million$8.00$7.60604,66803/31/20135.26%21.35%
+SHP12/21/2012ShangPharma Holdings Limited (N/A)All Cash$173 million$9.00$8.5561,21806/30/20135.26%10.61%
+HOGS11/26/2012Chairman and CEO Xianfu Zhu (N/A)All Cash$418 million$13.50$12.85282,29403/31/20135.06%20.51%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.1594,78206/30/20134.90%9.87%
+CYMI10/17/2012ASML Holding NV (ASML)Cash Plus Stock$2.5 billion$92.61$88.52195,04206/30/20134.62%9.32%
+FCAL11/06/2012PacWest Bancorp (PACW)All Cash$231 million$8.00$7.7042,14803/31/20133.90%15.80%
+RVR11/15/2012Parthenon Capital Partners (N/A)All Cash$79.5 million$21.93$21.156,52203/31/20133.69%14.96%
+GEOY07/23/2012DigitalGlobe, Inc. (DGI)Cash Plus Stock$900 million$32.22$31.2185,79403/31/20133.23%13.10%
+JEF11/12/2012Leucadia National Corp. (LUK)All Stock$3.59 billion$19.01$18.421,309,46503/31/20133.21%13.01%
+CLWR12/17/2012Sprint Nextel Corp. (S)All Cash$2.2 billion$2.97$2.884,007,86003/31/20133.13%12.67%
+ANNB10/23/2012F.N.B. Corporation (FNB)All Stock$51 million$12.05$11.702,30004/30/20132.97%9.03%
+CRBC09/13/2012FirstMerit Corporation (FMER)All Stock$912 million$19.34$18.8096,68706/30/20132.90%5.84%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$46.65680,42203/31/20132.89%11.74%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.72239,54506/30/20132.88%5.81%
+CYBI10/17/2012UM Holdings, Ltd. (N/A)All CashN/A$2.55$2.4864,54503/31/20132.82%11.45%
+YMI12/12/2012Gilead Sciences Inc. (GILD)All Cash$510 million$2.95$2.871,899,09003/31/20132.79%11.30%
+PRWT10/30/2012AmericanWest Bank (N/A)All Cash$16.6 million$1.65$1.6112,77306/30/20132.48%5.01%
+NXY07/23/2012CNOOC Ltd. (CEO)All Cash$15.1 billion$27.50$26.8512,567,38212/31/20122.42%0.00%
+ZZ09/27/2012Tempur-Pedic International Inc. (TPX)All Cash$1.3 billion$2.20$2.15554,65506/30/20132.33%4.69%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$15.23$14.9060,81606/30/20132.21%4.46%
+BTFG05/29/2012Trustmark Corporation (TRMK)All Stock$55.4 million$2.78$2.7219,11512/31/20122.16%0.00%
+CFFC08/02/2012City Holding Company (CHCO)All Stock$26.1 million$5.99$5.87N/A03/31/20132.01%8.17%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$8.20$8.043,701,47403/31/20131.95%7.93%
+ALTE12/19/2012Markel Corp. (MKL)Cash Plus Stock$3.13 billion$28.48$27.941,207,56406/30/20131.94%3.91%
+ALNC10/08/2012NBT Bancorp Inc. (NBTB)All Stock$233.4 million$43.43$42.742,55406/30/20131.61%3.24%
+KYAK11/08/2012priceline.com Incorporated (PCLN)All Cash$1.65 billion$40.00$39.4066,72403/31/20131.52%6.18%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.85304,37606/30/20131.52%3.07%
+CASC10/22/2012Toyota Industries Corporation (N/A)All Cash$759 million$65.00$64.06352,22312/31/20121.47%0.00%
+SEH10/24/2012PolyOne Corporation (POL)Cash Plus Stock$393 million$8.99$8.87154,61203/31/20131.33%5.40%
+CVH08/20/2012Aetna Inc. (AET)Cash Plus Stock$7.3 billion$45.00$44.44630,34906/30/20131.26%2.54%
+PXP12/05/2012Freeport-McMoRan Copper & Gold Inc. (FCX)Cash Plus Stock$6.9 billion$46.64$46.072,139,25006/30/20131.25%2.51%
+SHAW07/30/2012Chicago Bridge & Iron Company (CBI)Cash Plus Stock$3 billion$46.76$46.193,054,76503/31/20131.23%4.99%
+RTLX11/28/2012NCR Corp. (NCR)All Cash$660 million$30.00$29.65188,36303/31/20131.18%4.79%
+RBN08/09/2012National Oilwell Varco, Inc. (NOV)All Cash$2.5 billion$60.00$59.33443,24612/31/20121.13%0.00%
+KBW11/05/2012Stifel Financial Corp. (SF)All Cash$575 million$15.50$15.35162,96403/31/20130.98%3.96%
+TNS12/11/2012an Affiliate of Siris Capital Group (N/A)All Cash$862 million$21.00$20.80413,58903/31/20130.96%3.90%
+GNOM09/17/2012BGI-Shenzhen (N/A)All Cash$117.6 million$3.15$3.12427,35312/31/20120.96%0.00%
+ASCA12/21/2012Pinnacle Entertainment Inc. (PNK)All Cash$2.8 billion$26.50$26.251,385,78709/30/20130.95%1.27%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$31.92$31.632,509,58712/31/20130.91%0.91%
+WWAY12/20/2012EQT Infrastructure II (N/A)All Cash$419 million$6.70$6.6481,63003/31/20130.90%3.66%
+HLYS12/10/2012Sequential Brands Group, Inc. (N/A)All Cash$63.2 million$2.25$2.23237,23503/31/20130.90%3.64%
+WRC10/31/2012PVH Corp. (PVH)Cash Plus Stock$2.9 billion$71.47$70.92427,41103/31/20130.77%3.13%
+SRZ08/22/2012Health Care REIT, Inc. (HCN)All Cash$845 million$14.50$14.391,163,62906/30/20130.76%1.54%
+RAH11/27/2012ConAgra Foods, Inc. (CAG)All Cash$6.8 billion$90.00$89.331,125,27603/31/20130.75%3.04%
+EPHC12/06/2012TD Bank Group (N/A)All Cash$668 million$28.00$27.8368,39206/30/20130.61%1.23%
+LMLP09/24/2012Digital River, Inc. (DRIV)All Cash$102.8 million$3.45$3.4391,71003/31/20130.58%2.36%
+SBX08/28/2012Enstar Group Limited (ESGR)All Cash$249 million$11.11$11.05216,20903/31/20130.54%2.20%
+YTEC08/13/2012New Sihitech Limited (N/A)All Cash$79.5 million$3.90$3.889,00012/31/20120.52%0.00%
+PSSI10/25/2012McKesson Corporation (MCK)All Cash$2.1 billion$29.00$28.87746,49003/31/20130.45%1.83%
+YDNT12/04/2012affiliate of Linden Capital Partners (N/A)All Cash$314 million$39.50$39.3742,28303/31/20130.33%1.34%
+ARCT09/06/2012Realty Income Corp. (O)All Stock$2.95 billion$11.54$11.511,373,54803/31/20130.23%0.92%
+PLFE07/13/2012Athene Annuity (N/A)All Cash$415 million$14.00$13.98102,20412/31/20120.14%0.00%
+TEA11/14/2012Starbucks Corporation (SBUX)All Cash$620 million$15.50$15.49170,65812/31/20120.06%0.00%
+TIE11/09/2012Precision Castparts Corp. (PCP)All Cash$2.9 billion$16.50$16.491,044,05912/31/20120.06%0.00%
+ACOM10/22/2012Permira Advisers LLP (N/A)All Cash$1.6 billion$32.00$32.052,437,68503/31/2013-0.16%-0.63%
+CHG02/21/2012Fortis Inc. (N/A)All Cash$1.5 billion$65.00$65.1151,85603/31/2013-0.17%-0.69%
+ELOQ12/20/2012Oracle Corporation (ORCL)All Cash$871 million$23.50$23.6092,37706/30/2013-0.42%-0.85%
+CBOU12/17/2012Joh. A. Benckiser Group (N/A)All Cash$340 millon$16.00$16.13245,18803/31/2013-0.81%-3.27%
+WCBO09/26/2012Columbia Banking System, Inc. (COLB)All Stock$506 million$21.79$22.0841,62903/31/2013-1.30%-5.28%
+MMR12/05/2012Freeport-McMoRan Copper & Gold Inc. (FCX)All Cash3.4 billion$14.75$15.752,077,96006/30/2013-6.35%-12.80%
+TARO08/13/2012Sun Pharmaceutical (N/A)All Cash$1.45 billion$39.50$48.1517,69512/31/2012-17.96%0.00%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.2338,78312/31/2012-18.70%0.00%