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Merger Arbitrage Mondays – February 18, 2013

  • February 17, 2013

Merger activity decreased last week with two new deals announced and four 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 201319
Total Number of Pending Deals
Cash Deals46
Stock Deals16
Stock & Cash Deals5
Total Number of Pending Deals67
Total Deal Size$170.52 billion

New Deals:

  1. The acquisition of H.J. Heinz Company (HNZ) by an investment consortium comprised of Berkshire Hathaway and 3G Capital for $28 billion or $72.50 per share in cash
  2. The acquisition of Artio Global Investors (ART) by Aberdeen Asset Management for $2.75 per share in cash.

Closed Deals:

  1. The acquisition of Shaw Group (SHAW) by Chicago Bridge & Iron Company (CBI) on February 13, 2013.
  2. The acquisition of Warnaco Group (WRC) by PVH Corp (PVH) on February 14, 2013.
  3. The acquisition of White River Capital (RVR) by Parthenon Capital Partners on February 14, 2013.
  4. The acquisition of TNS Inc. (TNS) by an Affiliate of Siris Capital Group on February 15, 2013.

Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

WSB09/10/2012Old Line Bancshares, Inc. (OLBK)$6.82$6.2206/30/20139.64%26.64%
FMCN12/19/2012Giovanna Parent Limited (N/A)$27.50$25.4606/30/20138.01%22.16%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$40.38$37.5812/31/20137.46%8.61%
ECBE09/25/2012Crescent Financial Bancshares, Inc. (CRFN)$15.83$14.8103/31/20136.91%61.49%
HOGS11/26/2012Chairman and CEO Xianfu Zhu (N/A)$13.50$12.7703/31/20135.72%50.89%
VCBI01/30/2013United Bankshares Inc. (UBSI)$14.14$13.4609/30/20135.08%8.28%
WCBO09/26/2012Columbia Banking System, Inc. (COLB)$24.92$23.8203/31/20134.60%40.98%
SSRX02/08/2013Decade Sunshine Limited (N/A)$15.40$14.8006/30/20134.05%11.21%
WMS01/31/2013Scientific Games Corporation (SGMS)$26.00$25.0012/31/20134.00%4.62%
BXG11/14/2011BFC Financial Corporation (BFCF)$10.00$9.6303/31/20133.84%34.20%

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

+WSB09/10/2012Old Line Bancshares, Inc. (OLBK)All Stock$49 million$6.82$6.225,90006/30/20139.64%26.64%
+FMCN12/19/2012Giovanna Parent Limited (N/A)All Cash$3.7 billion$27.50$25.46341,93706/30/20138.01%22.16%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$40.38$37.582,262,69812/31/20137.46%8.61%
+ECBE09/25/2012Crescent Financial Bancshares, Inc. (CRFN)All Stock$51.6 million$15.83$14.811,50003/31/20136.91%61.49%
+HOGS11/26/2012Chairman and CEO Xianfu Zhu (N/A)All Cash$418 million$13.50$12.77183,16703/31/20135.72%50.89%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$14.14$13.46132,07609/30/20135.08%8.28%
+WCBO09/26/2012Columbia Banking System, Inc. (COLB)All Stock$506 million$24.92$23.8238,59503/31/20134.60%40.98%
+SSRX02/08/2013Decade Sunshine Limited (N/A)All Cash$340 million$15.40$14.80280,68906/30/20134.05%11.21%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.00561,79212/31/20134.00%4.62%
+BXG11/14/2011BFC Financial Corporation (BFCF)All Cash$150 million$10.00$9.6344,95803/31/20133.84%34.20%
+OUTD11/16/2012InterMedia Outdoors Holdings, LLC (N/A)All CashN/A$8.00$7.7131,47003/31/20133.76%33.49%
+JEF11/12/2012Leucadia National Corp. (LUK)All Stock$3.59 billion$21.92$21.151,028,82103/31/20133.63%32.35%
+CPNO01/29/2013Kinder Morgan Energy Partners, L.P. (KMP)All Stock$5 billion$39.96$38.60434,28309/30/20133.52%5.73%
+SHP12/21/2012ShangPharma Holdings Limited (N/A)All Cash$173 million$9.00$8.7217,50006/30/20133.20%8.85%
+CYMI10/17/2012ASML Holding NV (ASML)Cash Plus Stock$2.5 billion$103.55$100.66379,78106/30/20132.87%7.94%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.3189706/30/20132.60%7.19%
+FMFC02/07/2013Renasant Corp. (RNST)All Stock$118.8 million$14.08$13.7357,32409/30/20132.58%4.20%
+SOMH01/29/2013Lakeland Bancorp Inc. (LBAI)All Stock$64.4 million$11.29$11.0136,86009/30/20132.56%4.18%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$46.90456,40003/31/20132.35%20.88%
+ANNB10/23/2012F.N.B. Corporation (FNB)All Stock$51 million$13.76$13.49N/A04/30/20132.01%10.35%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.8228,20006/30/20131.83%5.07%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$15.69$15.4345,56506/30/20131.67%4.62%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.15$1.13N/A03/31/20131.59%14.18%
+CRBC09/13/2012FirstMerit Corporation (FMER)All Stock$912 million$21.14$20.83363,88506/30/20131.48%4.10%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$8.81$8.702,711,15803/31/20131.25%11.14%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.90352,56706/30/20131.01%2.79%
+GNOM09/17/2012BGI-Shenzhen (N/A)All Cash$117.6 million$3.15$3.12117,18701/25/20130.96%0.00%
+ALTE12/19/2012Markel Corp. (MKL)Cash Plus Stock$3.13 billion$31.23$30.97356,61206/30/20130.82%2.28%
+ALNC10/08/2012NBT Bancorp Inc. (NBTB)All Stock$233.4 million$45.56$45.197,77506/30/20130.82%2.27%
+RBN08/09/2012National Oilwell Varco, Inc. (NOV)All Cash$2.5 billion$60.00$59.53810,95102/18/20130.79%0.00%
+ORCC01/31/2013ACI Worldwide, Inc. (ACIW)All Cash$263 million$3.85$3.8282,05803/31/20130.79%6.99%
+PVSW01/28/2013an affiliate of Actian Corporation (N/A)All Cash$161.9 million$9.20$9.1339,28306/30/20130.77%2.12%
+CASC10/22/2012Toyota Industries Corporation (N/A)All Cash$759 million$65.00$64.52434,22102/28/20130.74%27.15%
+ART02/14/2013Aberdeen Asset Management PLC (N/A)All CashN/A$2.75$2.732,049,39908/15/20130.73%1.50%
+BCDS12/26/2012Diodes Incorporated (DIOD)All Cash$151 million$8.00$7.9534,91303/31/20130.63%5.60%
+PRWT10/30/2012AmericanWest Bank (N/A)All Cash$16.6 million$1.65$1.6438,01606/30/20130.61%1.69%
+PXP12/05/2012Freeport-McMoRan Copper & Gold Inc. (FCX)Cash Plus Stock$6.9 billion$47.88$47.64964,52306/30/20130.51%1.42%
+CVH08/20/2012Aetna Inc. (AET)Cash Plus Stock$7.3 billion$46.41$46.191,205,71706/30/20130.49%1.34%
+ZZ09/27/2012Tempur-Pedic International Inc. (TPX)All Cash$1.3 billion$2.20$2.19306,93806/30/20130.46%1.26%
+ASCA12/21/2012Pinnacle Entertainment Inc. (PNK)All Cash$2.8 billion$26.50$26.38258,42809/30/20130.45%0.74%
+KSWS01/17/2013E. Land (N/A)All Cash$170 million$4.75$4.73259,28806/30/20130.42%1.17%
+MAPP01/22/2013Allergan Inc. (AGN)All Cash$958 million$25.00$24.91332,82806/30/20130.36%1.00%
+HNZ02/14/2013Berkshire Hathaway and 3G Capital (N/A)All Cash$28 billion$72.50$72.2823,700,75609/30/20130.30%0.50%
+BIOC01/30/2013a holding company controlled by JLL Partners, Inc. (N/A)All Cash$123 million$7.25$7.2352,34703/31/20130.28%2.46%
+KCG12/19/2012GETCO Holding Company (N/A)All Cash$1.4 billion$3.75$3.744,293,04706/30/20130.27%0.74%
+NXY07/23/2012CNOOC Ltd. (CEO)All Cash$15.1 billion$27.50$27.436,953,27903/02/20130.26%7.76%
+SEH10/24/2012PolyOne Corporation (POL)Cash Plus Stock$393 million$9.98$9.96115,63703/31/20130.20%1.74%
+EPOC01/07/2013athenahealth, Inc. (ATHN)All Cash$293 million$11.75$11.7372,50204/30/20130.17%0.88%
+BOX01/22/2013Ontario Teachers’ Pension Plan (N/A)All Cash$467 million$23.00$22.97212,42706/30/20130.13%0.36%
+PSSI10/25/2012McKesson Corporation (MCK)All Cash$2.1 billion$29.00$28.97524,36703/31/20130.10%0.92%
+ZIP01/02/2013Avis Budget Group, Inc. (CAR)All Cash$500 million$12.25$12.24617,23604/30/20130.08%0.42%
+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$15.54140,92406/30/20130.06%0.18%
+EPHC12/06/2012TD Bank Group (N/A)All Cash$668 million$28.00$28.0041,16606/30/20130.00%0.00%
+BTFG05/29/2012Trustmark Corporation (TRMK)All Stock$55.4 million$2.98$2.981,90002/28/2013-0.04%-1.53%
+APKT02/04/2013Oracle Corporation (ORCL)All Cash$1.7 billion$29.25$29.311,897,44006/30/2013-0.20%-0.57%
+ES01/07/2013a subsidiary of Energy Capital Partners II, LLC (N/A)All Cash$1.1 billion$3.75$3.761,444,46606/30/2013-0.27%-0.74%
+MUSA02/06/2013Reliance Steel & Aluminum Co. (RS)All Cash$1.2 billion$20.65$20.71279,48506/30/2013-0.29%-0.80%
+CHG02/21/2012Fortis Inc. (N/A)All Cash$1.5 billion$65.00$65.2926,09306/30/2013-0.44%-1.23%
+KYAK11/08/2012priceline.com Incorporated (PCLN)All Cash$1.65 billion$40.00$40.2527,12103/31/2013-0.62%-5.53%
+DELL02/05/2013Michael Dell, Dell�s Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake (N/A)All Cash$24.4 billion$13.65$13.8120,486,66207/31/2013-1.16%-2.59%
+FCAL11/06/2012PacWest Bancorp (PACW)All Cash$231 million$8.00$8.1943,33903/31/2013-2.32%-20.65%
+CXS01/31/2013Annaly Capital Management, Inc. (NLY)All Cash$1 billion$13.00$13.32333,01504/30/2013-2.40%-12.35%
+KBW11/05/2012Stifel Financial Corp. (SF)All Cash$575 million$15.50$16.40N/A03/31/2013-5.49%-48.85%
+CLWR12/17/2012Sprint Nextel Corp. (S)All Cash$2.2 billion$2.97$3.162,907,83103/31/2013-6.01%-53.53%
+SOMX12/11/2012Pernix Therapeutics Holdings, Inc. (PTX)All Cash$25 million$2.78$3.0117,32306/30/2013-7.64%-21.13%
+MMR12/05/2012Freeport-McMoRan Copper & Gold Inc. (FCX)All Cash3.4 billion$14.75$16.051,614,39506/30/2013-8.10%-22.40%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.44N/A03/31/2013-30.56%-272.02%