Merger Arbitrage Mondays – February 4, 2013
Merger activity increased last week with eight new deals announced and three 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 Pervasive Software (PVSW) by an affiliate of Actian Corporation for $161.9 million or $9.20 per share in cash.
- The acquisition of Somerset Hills Bancorp (SOMH) by Lakeland Bancorp (LBAI) for $64.4 million. Under the terms of the agreement, shareholders of Somerset Hills will receive either 1.1962 shares of Lakeland Bancorp common stock or $12.00 in cash, subject to proration as described in the Merger Agreement, so that 90% of the aggregate merger consideration will be shares of Lakeland Bancorp common stock and 10% will be cash. We are treating this as an all stock deal.
- The acquisition of Copano Energy (CPNO) by Kinder Morgan Energy Partners (KMP) for $5 billion. Under the terms of the agreement, unitholders of Copano Energy will receive 0.4563 KMP units per Copano unit.
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