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Merger Arbitrage Mondays – July 22, 2013

  • July 22, 2013

Merger activity increased last week with three new deals announced and one 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 201394
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals47
Stock Deals19
Stock & Cash Deals2
Total Number of Pending Deals68
Total Deal Size$286.71 billion

New Deals:

  1. The acquisition of Taylor Capital Group (TAYC) by MB Financial (MBFI) for $680 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Taylor Capital will receive 0.64318 shares of MB Financial common stock and $4.08 per share in cash.
  2. The acquisition of SHFL entertainment (SHFL) by Bally Technologies (BYI) for $1.3 billion or $23.25 per share in cash.
  3. The acquisition of Frozen Food Express Industries (FFEX) by Duff Brothers Capital Corporation for $38.2 million or $2.10 per share in cash.

Closed Deals:

  1. The acquisition of Omthera Pharmaceuticals (OMTH) by AstraZeneca (AZN) on July 19, 2013. It took 52 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

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$5.2409/30/201311.64%60.70%
PBTH04/24/2013Opko Health, Inc. (OPK)$7.68$6.9012/31/201311.34%25.54%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$46.20$41.5412/31/201311.21%25.26%
MFLR05/14/2013Independent Bank Corp. (INDB)$21.19$19.7712/31/20137.17%16.15%
BCSB06/14/2013F.N.B. Corporation (FNB)$27.02$25.4412/31/20136.21%13.99%
WH02/21/2013WSP OCTG GROUP Ltd. (N/A)$3.20$3.0306/30/20135.61%-93.08%
SPRD07/12/2013Tsinghua Unigroup Ltd. (N/A)$31.00$29.6009/30/20134.73%24.66%
NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)$7.50$7.2006/30/20134.17%-69.13%
HWG06/05/2013Hallwood Financial Limited (N/A)$10.00$9.6109/30/20134.06%21.16%
DELL02/05/2013Michael Dell, Dell�s Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake (N/A)$13.65$13.1407/31/20133.88%157.41%

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

+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$5.2429,99709/30/201311.64%60.70%
+PBTH04/24/2013Opko Health, Inc. (OPK)All Stock$480 million$7.68$6.90268,80612/31/201311.34%25.54%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$46.20$41.54814,65412/31/201311.21%25.26%
+MFLR05/14/2013Independent Bank Corp. (INDB)All Stock$37.2 million$21.19$19.775,93312/31/20137.17%16.15%
+BCSB06/14/2013F.N.B. Corporation (FNB)All Stock$79 million$27.02$25.442,40012/31/20136.21%13.99%
+WH02/21/2013WSP OCTG GROUP Ltd. (N/A)All Cash$893.6 million$3.20$3.035,70006/30/20135.61%0.00%
+SPRD07/12/2013Tsinghua Unigroup Ltd. (N/A)All Cash$1.78 billion$31.00$29.601,645,00609/30/20134.73%24.66%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.208,49506/30/20134.17%0.00%
+HWG06/05/2013Hallwood Financial Limited (N/A)All CashN/A$10.00$9.61N/A09/30/20134.06%21.16%
+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$13.1433,711,40407/31/20133.88%157.41%
+CTB06/12/2013Apollo Tyres Ltd (N/A)All Cash$2.5 billion$35.00$33.79945,89312/31/20133.58%8.07%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$46.3792,09709/30/20133.52%18.33%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$9.93$9.667,026,76401/31/20142.85%5.38%
+ASIA05/13/2013CITIC Capital Partners (N/A)All Cash$890 million$12.00$11.67128,50409/30/20132.83%14.74%
+SFD05/29/2013Shuanghui International (N/A)All Cash$7.1 billion$34.00$33.142,473,85112/31/20132.60%5.85%
+CITZ05/13/2013First Merchants Corporation (FRME)All Stock114.7 million$12.09$11.808,45612/31/20132.46%5.54%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$15.56$15.1947,88009/30/20132.43%12.66%
+PVFC02/19/2013F.N.B. Corporation (FNB)All Stock$106.4 million$4.42$4.3221,84809/30/20132.39%12.44%
+LPS05/28/2013Fidelity National Financial, Inc. (FNF)All Cash$2.9 billion$33.25$32.52362,44612/31/20132.24%5.06%
+MBND05/22/2013Goodman Networks (N/A)All Cash$116 million$3.25$3.1814,89309/30/20132.20%11.48%
+MEMS04/23/2013IDG-Accel China Capital II, L.P. (N/A)All CashN$4.23$4.146,67409/30/20132.17%11.34%
+LIFE04/15/2013Thermo Fisher Scientific, Inc. (TMO)All Cash$13.6 billion$76.00$74.501,948,53101/31/20142.01%3.81%
+STEL06/10/2013Union First Market Bankshares Corporation (UBSH)All Stock$445.1 million$22.01$21.6455,16401/01/20141.71%3.83%
+OMX02/20/2013Office Depot, Inc. (ODP)All Stock$1.17 billion$11.65$11.47721,68412/31/20131.55%3.49%
+SHFL07/16/2013Bally Technologies, Inc. (BYI)All Cash$1.3 billion$23.25$22.921,837,05306/15/20131.44%0.00%
+TAYC07/15/2013MB Financial Inc. (MBFI)Cash Plus Stock$680 million$22.70$22.39214,63306/30/20141.40%1.49%
+BMC05/06/2013Bain Capital and Golden Gate Capital (N/A)All Cash$6.9 billion$46.25$45.733,598,65612/31/20131.14%2.56%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.74122,19012/31/20131.01%2.28%
+JADE03/22/2013Flora Bloom Holdings & Flora Fragrance Holdings (N/A)All CashN/A$2.00$1.9821,44312/31/20131.01%2.28%
+WCRX05/20/2013Actavis, Inc. (ACT)All Stock$8.5 billion$20.07$19.872,265,22712/31/20130.99%2.24%
+FFEX07/15/2013Duff Brothers Capital Corporation (N/A)All Cash$38.2 million$2.10$2.0891,64709/15/20130.96%6.38%
+STEI05/29/2013Service Corp. International (SCI)All Cash$1.4 billion$13.25$13.13305,50809/30/20130.91%4.77%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.911,084,02806/30/20130.91%0.00%
+RUE05/23/2013Apax Partners (N/A)All Cash$1.1 billion$42.00$41.6455,61812/31/20130.86%1.95%
+STEC06/24/2013Western Digital Corporation (WDC)All Cash$340 million$6.85$6.80563,19012/31/20130.74%1.66%
+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$8.351,58006/30/20130.60%0.00%
+BKI04/24/2013Georgia-Pacific LLC (N/A)All Cash$1.5 billion$37.50$37.30202,79009/30/20130.54%2.80%
+LSE05/28/2013American Realty Capital Properties, Inc. (ARCP)All Cash$2.2 billion$8.50$8.461,039,98909/30/20130.47%2.47%
+KEYN06/24/2013Thoma Bravo (N/A)All Cash$369 million$20.00$19.91415,55309/30/20130.45%2.36%
+VHS06/24/2013Tenet Healthcare Corp. (THC)All Cash$4.3 billion$21.00$20.91475,11412/31/20130.43%0.97%
+OFI05/15/2013Bellisio Foods, Inc. (N/A)All Cash$80.9 million$5.00$4.9810,09212/31/20130.40%0.90%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$19.33$19.2623,50206/30/20130.37%0.00%
+FMFC02/07/2013Renasant Corp. (RNST)All Stock$118.8 million$17.29$17.2325,21809/30/20130.35%1.81%
+TRLG05/10/2013TowerBrook Capital Partners L.P. (N/A)All Cash$835 million$32.00$31.8997,52309/30/20130.34%1.80%
+NVE05/29/2013MidAmerican Energy Holdings Company (N/A)All Cash$10 billion$23.75$23.693,249,91003/31/20140.25%0.37%
+PWER04/22/2013ABB Ltd. (ABB)All Cash$1 billion$6.35$6.335424,67412/31/20130.24%0.53%
+ASCA12/21/2012Pinnacle Entertainment Inc. (PNK)All Cash$2.8 billion$26.50$26.44302,03009/30/20130.23%1.18%
+FFCH02/20/2013SCBT Financial Corporation (SCBT)All Stock$302.4 million$23.16$23.1133,48709/30/20130.20%1.02%
+ASI06/03/2013Fairfax Financial Holdings Limited (N/A)All Cash$306 million$29.25$29.2218,03612/31/20130.10%0.23%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.99N/A06/30/20130.10%0.00%
+GDI03/08/2013Kohlberg Kravis Roberts & Co. L.P. (N/A)All Cash$3.9 billion$76.00$75.94294,55109/30/20130.08%0.41%
+MPR04/22/2013CECO Environmental Corp. (CECE)All Cash$210 million$13.75$13.7437,77909/30/20130.07%0.38%
+CMLP05/06/2013Inergy Midstream (NRGM)Cash Plus StockN/A$27.83$27.8386,46109/30/20130.01%0.07%
+STL04/04/2013Provident New York Bancorp (PBNY)All Stock$344 million$13.21$13.2156,80712/31/2013-0.03%-0.07%
+HTSI07/09/2013The Kroger Co. (KR)All Cash$2.5 billion$49.38$49.41461,64412/31/2013-0.06%-0.14%
+FSCI04/11/2013Sinclair Broadcast Group Inc. (SBGI)All Cash$373.3 milliom$41.00$41.2319,65109/30/2013-0.56%-2.91%
+NFSB03/05/2013SI Financial Group Inc. (SIFI)All Stock$61.3 million$16.85$16.987,85009/30/2013-0.74%-3.88%
+CXPO04/30/2013Contango Oil & Gas Company (MCF)All Stock$390 million$3.25$3.3083,04909/30/2013-1.50%-7.81%
+CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)All Cash$8.6 billion$24.50$24.921,729,12309/30/2013-1.69%-8.79%
+BLC06/13/2013Gannett Co., Inc. (GCI)All Cash$2.2 billion$13.75$14.07495,66712/31/2013-2.27%-5.12%
+LEDR05/08/2013Trulia, Inc. (TRLA)All Cash$355 million$11.33$11.70150,87409/30/2013-3.16%-16.49%
+LVB07/01/2013Kohlberg & Company (N/A)All Cash$438 million$35.00$36.1644,42609/30/2013-3.21%-16.73%
+BRY02/21/2013LinnCo, LLC (LNCO)All Stock$4.3 billion$40.23$41.57378,45809/30/2013-3.24%-16.87%
+AM04/01/2013Weiss Family (N/A)All Cash$878 million$18.20$19.01314,22107/31/2013-4.26%-172.80%
+LEAP07/12/2013AT&T, Inc. (T)All Cash$1.19 billion$15.00$17.392,566,77604/30/2013-13.74%60.44%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.29$1.51N/A03/31/2013-14.74%47.62%
+MEAD05/17/2013Jinghua Optics & Electronics Co., Ltd. (N/A)All Cash$4.5 million$3.45$4.1515,01707/31/2013-16.87%-684.07%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.44N/A03/31/2013-30.56%98.70%