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Merger Arbitrage Mondays – July 8, 2013

  • July 8, 2013

Merger activity decreased last week with one new deal announced and five 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 201388
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals48
Stock Deals19
Stock & Cash Deals1
Total Number of Pending Deals68
Total Deal Size$279.22 billion

New Deals:

  1. The acquisition of Steinway Musical Instruments (LVB) by Kohlberg & Company for $438 million or $35.00 per share in cash.

Closed Deals:

  1. The acquisition of Lufkin Industries (LUFK) by General Electric Company (GE) on July 1, 2013. It took 84 days for this deal to be completed.
  2. The acquisition of Knight Capital Group (KCG) by GETCO Holding Company on July 1, 2013. It took 194 days for this deal to be completed.
  3. The acquisition of SoundBite Communications (SDBT) by Genesys on July 2, 2013. It took 43 days for this deal to be completed.
  4. The acquisition of National Financial Partners (NFP) by Madison Dearborn Partners on July 2, 2013. It took 78 days for this deal to be completed.
  5. The acquisition of Netspend Holdings (NTSP) by Total System Services (TSS) on July 2, 2013. It took 133 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$5.1509/30/201313.59%59.06%
PBTH04/24/2013Opko Health, Inc. (OPK)$7.21$6.3912/31/201312.90%26.76%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$45.69$41.2212/31/201310.85%22.50%
BCSB06/14/2013F.N.B. Corporation (FNB)$26.81$25.0012/31/20137.24%15.02%
MFLR05/14/2013Independent Bank Corp. (INDB)$20.27$18.9312/31/20137.09%14.70%
WH02/21/2013WSP OCTG GROUP Ltd. (N/A)$3.20$3.0506/30/20134.92%-224.39%
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$13.0307/31/20134.76%75.51%
CTB06/12/2013Apollo Tyres Ltd (N/A)$35.00$33.5212/31/20134.42%9.16%
SFD05/29/2013Shuanghui International (N/A)$34.00$32.6912/31/20134.01%8.31%
LEDR05/08/2013Trulia, Inc. (TRLA)$11.33$10.9209/30/20133.75%16.31%

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$5.15100,00009/30/201313.59%59.06%
+PBTH04/24/2013Opko Health, Inc. (OPK)All Stock$480 million$7.21$6.39111,75712/31/201312.90%26.76%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$45.69$41.221,025,47412/31/201310.85%22.50%
+BCSB06/14/2013F.N.B. Corporation (FNB)All Stock$79 million$26.81$25.0028,10512/31/20137.24%15.02%
+MFLR05/14/2013Independent Bank Corp. (INDB)All Stock$37.2 million$20.27$18.9311,23212/31/20137.09%14.70%
+WH02/21/2013WSP OCTG GROUP Ltd. (N/A)All Cash$893.6 million$3.20$3.053,36506/30/20134.92%0.00%
+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$13.0352,945,06407/31/20134.76%75.51%
+CTB06/12/2013Apollo Tyres Ltd (N/A)All Cash$2.5 billion$35.00$33.52500,02612/31/20134.42%9.16%
+SFD05/29/2013Shuanghui International (N/A)All Cash$7.1 billion$34.00$32.692,710,01412/31/20134.01%8.31%
+LEDR05/08/2013Trulia, Inc. (TRLA)All Cash$355 million$11.33$10.92261,56409/30/20133.75%16.31%
+HWG06/05/2013Hallwood Financial Limited (N/A)All CashN/A$10.00$9.65N/A09/30/20133.63%15.76%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$46.34237,54009/30/20133.58%15.57%
+CITZ05/13/2013First Merchants Corporation (FRME)All Stock114.7 million$11.95$11.5583,70612/31/20133.44%7.13%
+CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)All Cash$8.6 billion$24.50$23.70652,47409/30/20133.38%14.67%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$15.23$14.74121,19709/30/20133.30%14.35%
+PVFC02/19/2013F.N.B. Corporation (FNB)All Stock$106.4 million$4.39$4.2551,30009/30/20133.27%14.22%
+ASIA05/13/2013CITIC Capital Partners (N/A)All Cash$890 million$12.00$11.62113,10409/30/20133.27%14.21%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.282,21506/30/20133.02%0.00%
+ALC02/26/2013TPG (N/A)All Cash$278 million$12.00$11.69184,36106/30/20132.65%0.00%
+LPS05/28/2013Fidelity National Financial, Inc. (FNF)All Cash$2.9 billion$33.25$32.40684,17012/31/20132.62%5.44%
+LIFE04/15/2013Thermo Fisher Scientific, Inc. (TMO)All Cash$13.6 billion$76.00$74.221,360,76501/31/20142.40%4.23%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$9.78$9.572,476,95401/31/20142.21%3.89%
+MBND05/22/2013Goodman Networks (N/A)All Cash$116 million$3.25$3.1838,49409/30/20132.20%9.56%
+OMX02/20/2013Office Depot, Inc. (ODP)All Stock$1.17 billion$11.14$10.911,035,86112/31/20132.08%4.31%
+BMC05/06/2013Bain Capital and Golden Gate Capital (N/A)All Cash$6.9 billion$46.25$45.341,052,35712/31/20132.01%4.16%
+MEMS04/23/2013IDG-Accel China Capital II, L.P. (N/A)All CashN$4.23$4.1524,21509/30/20131.93%8.38%
+STEL06/10/2013Union First Market Bankshares Corporation (UBSH)All Stock$445.1 million$21.10$20.7268,95301/01/20141.86%3.83%
+MPR04/22/2013CECO Environmental Corp. (CECE)All Cash$210 million$13.75$13.53173,86609/30/20131.63%7.07%
+STEC06/24/2013Western Digital Corporation (WDC)All Cash$340 million$6.85$6.75992,97812/31/20131.48%3.07%
+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$8.28N/A06/30/20131.45%0.00%
+WCRX05/20/2013Actavis, Inc. (ACT)All Stock$8.5 billion$20.22$19.951,812,18912/31/20131.35%2.80%
+BKI04/24/2013Georgia-Pacific LLC (N/A)All Cash$1.5 billion$37.50$37.02298,13509/30/20131.30%5.63%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.88631,00706/30/20131.21%0.00%
+NVE05/29/2013MidAmerican Energy Holdings Company (N/A)All Cash$10 billion$23.75$23.492,907,25203/31/20141.11%1.52%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.72267,41712/31/20131.09%2.26%
+TRLG05/10/2013TowerBrook Capital Partners L.P. (N/A)All Cash$835 million$32.00$31.66380,23909/30/20131.07%4.67%
+VHS06/24/2013Tenet Healthcare Corp. (THC)All Cash$4.3 billion$21.00$20.78362,71612/31/20131.06%2.20%
+STL04/04/2013Provident New York Bancorp (PBNY)All Stock$344 million$12.79$12.6689,01612/31/20131.02%2.12%
+JADE03/22/2013Flora Bloom Holdings & Flora Fragrance Holdings (N/A)All CashN/A$2.00$1.9823,42012/31/20131.01%2.09%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$19.40$19.2326,76506/30/20130.88%0.00%
+RUE05/23/2013Apax Partners (N/A)All Cash$1.1 billion$42.00$41.64322,53112/31/20130.86%1.79%
+CXPO04/30/2013Contango Oil & Gas Company (MCF)All Stock$390 million$2.97$2.95653,51009/30/20130.83%3.62%
+KEYN06/24/2013Thoma Bravo (N/A)All Cash$369 million$20.00$19.9165,50309/30/20130.45%1.96%
+OFI05/15/2013Bellisio Foods, Inc. (N/A)All Cash$80.9 million$5.00$4.986,01212/31/20130.40%0.83%
+GDI03/08/2013Kohlberg Kravis Roberts & Co. L.P. (N/A)All Cash$3.9 billion$76.00$75.70533,50509/30/20130.40%1.72%
+ASCA12/21/2012Pinnacle Entertainment Inc. (PNK)All Cash$2.8 billion$26.50$26.40269,98109/30/20130.38%1.65%
+ASI06/03/2013Fairfax Financial Holdings Limited (N/A)All Cash$306 million$29.25$29.1422,53212/31/20130.38%0.78%
+AQ05/17/2013Accenture plc (ACN)All Cash$316 million$13.00$12.9632,69709/30/20130.31%1.34%
+STEI05/29/2013Service Corp. International (SCI)All Cash$1.4 billion$13.25$13.22462,98309/30/20130.23%0.99%
+PWER04/22/2013ABB Ltd. (ABB)All Cash$1 billion$6.35$6.343,046,68712/31/20130.16%0.33%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.99N/A06/30/20130.10%0.00%
+CMLP05/06/2013Inergy Midstream (NRGM)Cash Plus StockN/A$25.85$25.83233,32109/30/20130.09%0.40%
+ET06/04/2013salesforce.com, inc (CRM)All Cash$2.5 billion$33.75$33.72942,80707/31/20130.09%1.41%
+SVN02/28/2013Keystone Lodging Holdings Limited (N/A)All Cash$688 million$13.80$13.7955,78212/31/20130.07%0.15%
+CLWR12/17/2012Sprint Nextel Corp. (S)All Cash$2.2 billion$5.00$5.002,829,38407/31/20130.00%0.00%
+LSE05/28/2013American Realty Capital Properties, Inc. (ARCP)All Cash$2.2 billion$8.50$8.501,051,05109/30/20130.00%0.00%
+FMFC02/07/2013Renasant Corp. (RNST)All Stock$118.8 million$16.65$16.7016,18309/30/2013-0.28%-1.21%
+FFCH02/20/2013SCBT Financial Corporation (SCBT)All Stock$302.4 million$22.38$22.4614,55109/30/2013-0.34%-1.47%
+FSCI04/11/2013Sinclair Broadcast Group Inc. (SBGI)All Cash$373.3 milliom$41.00$41.3723,12909/30/2013-0.89%-3.89%
+LVB07/01/2013Kohlberg & Company (N/A)All Cash$438 million$35.00$35.43115,74009/30/2013-1.21%-5.27%
+NFSB03/05/2013SI Financial Group Inc. (SIFI)All Stock$61.3 million$16.58$17.05N/A09/30/2013-2.75%-11.94%
+BLC06/13/2013Gannett Co., Inc. (GCI)All Cash$2.2 billion$13.75$14.26973,64412/31/2013-3.58%-7.42%
+AM04/01/2013Weiss Family (N/A)All Cash$878 million$18.20$19.11145,26207/31/2013-4.76%-75.57%
+OMTH05/28/2013AstraZeneca PLC (AZN)All Cash$323 million$12.70$13.4238,21609/30/2013-5.37%-23.31%
+MEAD05/17/2013Jinghua Optics & Electronics Co., Ltd. (N/A)All Cash$4.5 million$3.45$3.796,71507/31/2013-8.97%-142.37%
+BRY02/21/2013LinnCo, LLC (LNCO)All Stock$4.3 billion$33.30$39.921,018,31409/30/2013-16.58%-72.06%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.28$1.591,32503/31/2013-19.55%72.07%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.44N/A03/31/2013-30.56%112.65%