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Merger Arbitrage Mondays – August 26, 2013

  • August 26, 2013

Merger activity decreased last week with only two 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 2013103
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals52
Stock Deals20
Stock & Cash Deals5
Total Number of Pending Deals77
Total Deal Size$322.58 billion

New Deals:

  1. The acquisition of Edwards Group Limited (EVAC) by Atlas Copco Group for $1.6 billion or $10.50 per share in cash. The $10.50 payment includes a fixed cash payment of $9.25 at closing and an additional payment of up to $1.25 per share post-closing, depending on Edwards’ achievement of 2013 revenue within the range of £587.5 million to £650 million and achievement of a related Adjusted EBITDA target within the range of £113.9 million to £145 million.
  2. The acquisition of Onyx Pharmaceuticals (ONXX) by Amgen (AMGN) for $10.4 billion or $125 per share in cash.

Closed Deals:

  1. The acquisition of Frozen Food Express Industries (FFEX) by Duff Brothers Capital Corporation on August 19, 2013. It took 35 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

WH02/21/2013WSP OCTG GROUP Ltd. (N/A)$3.20$2.7012/31/201318.52%53.22%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$47.83$42.6612/31/201312.13%34.86%
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$5.2609/30/201311.22%116.97%
CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)$24.50$22.6009/30/20138.41%87.67%
CTB06/12/2013Apollo Tyres Ltd (N/A)$35.00$32.5612/31/20137.49%21.54%
MFLR05/14/2013Independent Bank Corp. (INDB)$20.89$19.5312/31/20136.98%20.07%
ONXX08/25/2013Amgen Inc. (AMGN)$125.00$116.9610/31/20136.87%38.02%
PBTH04/24/2013Opko Health, Inc. (OPK)$8.46$7.9812/31/20135.99%17.23%
BCSB06/14/2013F.N.B. Corporation (FNB)$26.46$24.9912/31/20135.87%16.88%
EVAC08/19/2013Atlas Copco Group (N/A)$10.50$9.9803/31/20145.21%8.76%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.