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Merger Arbitrage Mondays – July 15, 2013

  • July 15, 2013

Merger activity increases last week with two new deals announced and three 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 201392
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals46
Stock Deals19
Stock & Cash Deals1
Total Number of Pending Deals66
Total Deal Size$282.9 billion

New Deals:

  1. The acquisition of Harris Teeter Supermarkets (HTSI) by The Kroger Co, (KR) for $2.5 billion or $49.38 per share in cash.
  2. The acquisition of Leap Wireless International (LEAP) by AT&T (T) for $1.19 billion or $15.00 per share in cash.

Closed Deals:

  1. The acquisition of Acquity Group Limited (AQ) by Accenture plc (ACN) on July 8, 2013. It took 52 days for this deal to be completed.
  2. The acquisition of Assisted Living Concepts (ALC) by  TPG on July 11, 2013. It took 135 days for this deal to be completed.
  3. The acquisition of Clearwire Corporation (CLWR) by Sprint Nextel (S) on July 12, 2013. It took 207 days for this deal to be completed.

Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

LEAP07/12/2013AT&T, Inc. (T)$15.00$7.9804/30/201387.97%-422.49%
PBTH04/24/2013Opko Health, Inc. (OPK)$7.42$6.5512/31/201313.34%28.80%
ISS06/06/2013Mr. Tianwen Liu, the Company’s CEO and the chairman of its Board of Directors, and ChinaAMC Capital Management Limited (N/A)$5.85$5.2009/30/201312.50%59.25%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$46.63$41.7712/31/201311.64%25.13%
BCSB06/14/2013F.N.B. Corporation (FNB)$26.52$25.0312/31/20135.95%12.86%
MFLR05/14/2013Independent Bank Corp. (INDB)$20.41$19.2912/31/20135.82%12.58%
CTB06/12/2013Apollo Tyres Ltd (N/A)$35.00$33.6112/31/20134.14%8.93%
WH02/21/2013WSP OCTG GROUP Ltd. (N/A)$3.20$3.0906/30/20133.56%-86.62%
LPS05/28/2013Fidelity National Financial, Inc. (FNF)$33.25$32.1112/31/20133.55%7.67%
ARB12/18/2012Nielsen Holdings N.V. (NLSN)$48.00$46.3809/30/20133.49%16.56%

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

+LEAP07/12/2013AT&T, Inc. (T)All Cash$1.19 billion$15.00$7.984,60004/30/201387.97%0.00%
+PBTH04/24/2013Opko Health, Inc. (OPK)All Stock$480 million$7.42$6.55156,42812/31/201313.34%28.80%
+ISS06/06/2013Mr. Tianwen Liu, the Company’s CEO and the chairman of its Board of Directors, and ChinaAMC Capital Management Limited (N/A)All CashN/A$5.85$5.20472,81209/30/201312.50%59.25%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$46.63$41.771,864,91012/31/201311.64%25.13%
+BCSB06/14/2013F.N.B. Corporation (FNB)All Stock$79 million$26.52$25.037,49912/31/20135.95%12.86%
+MFLR05/14/2013Independent Bank Corp. (INDB)All Stock$37.2 million$20.41$19.2932,31312/31/20135.82%12.58%
+CTB06/12/2013Apollo Tyres Ltd (N/A)All Cash$2.5 billion$35.00$33.61748,26312/31/20134.14%8.93%
+WH02/21/2013WSP OCTG GROUP Ltd. (N/A)All Cash$893.6 million$3.20$3.093,62806/30/20133.56%0.00%
+LPS05/28/2013Fidelity National Financial, Inc. (FNF)All Cash$2.9 billion$33.25$32.111,676,75212/31/20133.55%7.67%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$46.3874,45509/30/20133.49%16.56%
+SFD05/29/2013Shuanghui International (N/A)All Cash$7.1 billion$34.00$32.914,139,21112/31/20133.31%7.15%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.2730006/30/20133.16%0.00%
+PVFC02/19/2013F.N.B. Corporation (FNB)All Stock$106.4 million$4.34$4.2117,87709/30/20133.12%14.79%
+HWG06/05/2013Hallwood Financial Limited (N/A)All CashN/A$10.00$9.7010009/30/20133.09%14.66%
+CITZ05/13/2013First Merchants Corporation (FRME)All Stock114.7 million$11.93$11.573,51812/31/20133.09%6.67%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$15.01$14.5666,18209/30/20133.08%14.62%
+ASIA05/13/2013CITIC Capital Partners (N/A)All Cash$890 million$12.00$11.65135,00109/30/20133.00%14.24%
+CMLP05/06/2013Inergy Midstream (NRGM)Cash Plus StockN/A$27.84$27.14287,68609/30/20132.59%12.30%
+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$13.3219,986,54007/31/20132.48%56.52%
+MEMS04/23/2013IDG-Accel China Capital II, L.P. (N/A)All CashN$4.23$4.133,09609/30/20132.42%11.48%
+OMX02/20/2013Office Depot, Inc. (ODP)All Stock$1.17 billion$11.57$11.30931,82012/31/20132.36%5.10%
+MBND05/22/2013Goodman Networks (N/A)All Cash$116 million$3.25$3.1821,11009/30/20132.20%10.43%
+LIFE04/15/2013Thermo Fisher Scientific, Inc. (TMO)All Cash$13.6 billion$76.00$74.602,006,59201/31/20141.88%3.42%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$9.90$9.732,390,40601/31/20141.72%3.13%
+CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)All Cash$8.6 billion$24.50$24.14802,85509/30/20131.49%7.07%
+WCRX05/20/2013Actavis, Inc. (ACT)All Stock$8.5 billion$20.19$19.931,486,16712/31/20131.30%2.80%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.68129,79612/31/20131.25%2.69%
+STEL06/10/2013Union First Market Bankshares Corporation (UBSH)All Stock$445.1 million$21.17$20.9250,88501/01/20141.21%2.59%
+STEC06/24/2013Western Digital Corporation (WDC)All Cash$340 million$6.85$6.77307,15912/31/20131.18%2.55%
+CXPO04/30/2013Contango Oil & Gas Company (MCF)All Stock$390 million$3.20$3.1797,69309/30/20131.10%5.23%
+JADE03/22/2013Flora Bloom Holdings & Flora Fragrance Holdings (N/A)All CashN/A$2.00$1.9899,45012/31/20131.01%2.18%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.901,057,52206/30/20131.01%0.00%
+VHS06/24/2013Tenet Healthcare Corp. (THC)All Cash$4.3 billion$21.00$20.81680,33612/31/20130.91%1.97%
+BMC05/06/2013Bain Capital and Golden Gate Capital (N/A)All Cash$6.9 billion$46.25$45.863,467,52112/31/20130.85%1.84%
+OFI05/15/2013Bellisio Foods, Inc. (N/A)All Cash$80.9 million$5.00$4.964,68812/31/20130.81%1.74%
+BKI04/24/2013Georgia-Pacific LLC (N/A)All Cash$1.5 billion$37.50$37.20336,91109/30/20130.81%3.82%
+RUE05/23/2013Apax Partners (N/A)All Cash$1.1 billion$42.00$41.7062,00512/31/20130.72%1.55%
+STEI05/29/2013Service Corp. International (SCI)All Cash$1.4 billion$13.25$13.17355,41409/30/20130.61%2.88%
+TRLG05/10/2013TowerBrook Capital Partners L.P. (N/A)All Cash$835 million$32.00$31.81417,01809/30/20130.60%2.83%
+ASI06/03/2013Fairfax Financial Holdings Limited (N/A)All Cash$306 million$29.25$29.0926,79312/31/20130.55%1.19%
+NVE05/29/2013MidAmerican Energy Holdings Company (N/A)All Cash$10 billion$23.75$23.633,358,73903/31/20140.51%0.72%
+STL04/04/2013Provident New York Bancorp (PBNY)All Stock$344 million$12.81$12.7576,05712/31/20130.50%1.09%
+LSE05/28/2013American Realty Capital Properties, Inc. (ARCP)All Cash$2.2 billion$8.50$8.462,042,73609/30/20130.47%2.24%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$19.17$19.0824,26506/30/20130.45%0.00%
+MPR04/22/2013CECO Environmental Corp. (CECE)All Cash$210 million$13.75$13.69308,11309/30/20130.44%2.08%
+KEYN06/24/2013Thoma Bravo (N/A)All Cash$369 million$20.00$19.93158,03609/30/20130.35%1.66%
+PWER04/22/2013ABB Ltd. (ABB)All Cash$1 billion$6.35$6.33309,72812/31/20130.32%0.68%
+ASCA12/21/2012Pinnacle Entertainment Inc. (PNK)All Cash$2.8 billion$26.50$26.43217,20709/30/20130.26%1.26%
+FFCH02/20/2013SCBT Financial Corporation (SCBT)All Stock$302.4 million$23.20$23.1654,16209/30/20130.16%0.77%
+FMFC02/07/2013Renasant Corp. (RNST)All Stock$118.8 million$16.85$16.8210,56209/30/20130.16%0.74%
+GDI03/08/2013Kohlberg Kravis Roberts & Co. L.P. (N/A)All Cash$3.9 billion$76.00$75.90425,49309/30/20130.13%0.62%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.99N/A06/30/20130.10%0.00%
+LEDR05/08/2013Trulia, Inc. (TRLA)All Cash$355 million$11.33$11.32139,57009/30/20130.09%0.42%
+HTSI07/09/2013The Kroger Co. (KR)All Cash$2.5 billion$49.38$49.34893,92312/31/20130.08%0.18%
+MPAC04/11/2013Kevin T. Keane, Chairman of the Company, and Daniel G. Keane, President and Chief Executive Officer of the Company (N/A)All CashN/A$8.40$8.4030006/30/20130.00%0.00%
+ET06/04/2013salesforce.com, inc (CRM)All Cash$2.5 billion$33.75$33.75N/A07/31/20130.00%0.00%
+NFSB03/05/2013SI Financial Group Inc. (SIFI)All Stock$61.3 million$16.79$16.90N/A09/30/2013-0.63%-3.00%
+FSCI04/11/2013Sinclair Broadcast Group Inc. (SBGI)All Cash$373.3 milliom$41.00$41.3935,80909/30/2013-0.94%-4.47%
+BLC06/13/2013Gannett Co., Inc. (GCI)All Cash$2.2 billion$13.75$14.131,690,71712/31/2013-2.69%-5.81%
+LVB07/01/2013Kohlberg & Company (N/A)All Cash$438 million$35.00$36.1859,60709/30/2013-3.26%-15.46%
+OMTH05/28/2013AstraZeneca PLC (AZN)All Cash$323 million$12.70$13.2561,28909/30/2013-4.15%-19.68%
+AM04/01/2013Weiss Family (N/A)All Cash$878 million$18.20$19.0595,64407/31/2013-4.46%-101.79%
+MEAD05/17/2013Jinghua Optics & Electronics Co., Ltd. (N/A)All Cash$4.5 million$3.45$3.725650007/31/2013-7.40%-168.75%
+BRY02/21/2013LinnCo, LLC (LNCO)All Stock$4.3 billion$36.45$41.02520,40309/30/2013-11.14%-52.81%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.24$1.552,66703/31/2013-20.12%69.27%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.44N/A03/31/2013-30.56%105.21%