Merger Arbitrage Mondays – August 5, 2013
Merger activity increased last week with five 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:
- The acquisition of Elan Corporation (ELN) by Perrigo Company (PRGO) for $8.6 billion in a cash plus stock deal. Upon completion of the merger, shareholders of Elan will receive $6.25 per share in cash and 0.07636 shares of New Perrigo for each Elan share.
- The acquisition of Saks Incorporated (SKS) by Hudson’s Bay Company for $2.9 billion. Upon completion of the merger, shareholders of Saks will receive $16.00 per share in cash.
- The acquisition of Trius Therapeutics (TSRX) by Cubist Pharmaceuticals (CBST) for $707 million or $13.50 per share in cash.
In addition to the upfront cash payment, each Trius stockholder will receive one Contingent Value Right (CVR), entitling the holder to receive an additional cash payment of up to $2.00 for each share they own if certain commercial sales milestones are
achieved.
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