Merger Arbitrage Mondays – March 25, 2013

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

1. The acquisition of Edac Technologies (EDAC) by GB Aero Engine LLC, an affiliate of  Greenbriar Equity Group LLC for $104.1 million or $17.75 per share in cash.
2. The acquisition of Palomar Medical Technologies (PMTI) by Cynosure (CYNO) for $294 million. Upon completion of the merger, shareholders of Palomar Medial Technologies will receive $6.825 per share in cash and $6.825 per share in Cynosure common stock, subject to the following collar provisions: if the number determined by dividing the Target Stock Value by the Average Buyer Stock Price is less than or equal to 0.229, the Exchange Ratio shall be 0.229 and if the number determined by dividing the Target Stock Value by the Average Buyer Stock Price is greater than or equal to 0.283, the Exchange Ratio shall be 0.283. We are treating this as an all cash deal worth $13.65.
3. The acquisition of Obagi Medical Products (OMPI) by Valeant Pharmaceuticals (VRX)  for $360 million or $19.75 per share in cash.

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