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Merger Arbitrage Mondays – September 16, 2013

  • September 16, 2013

Merger activity decreased 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:

New Deals:

  1. The acquisition of Molex Incorporated (MOLX) by Koch Industries for $7.2 billion or $38.50 per share in cash.
  2. The acquisition of Tower Financial Corporation (TOFC) by Old National Bancorp (ONB) for $107.7 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Tower Financial Corporation will receive 1.20 shares of Old National Bancorp common stock and $6.75 in cash for each share of Tower Financial common stock. The exchange ratio is subject to adjustment (calculated prior to closing) in the event shareholders’ equity of Tower Financial Corporation is below a specified amount.
  3. The acquisition of Sterling Financial Corporation (STSA) by Umpqua Holdings Corporation (UMPQ) for $2 billion in a cash plus stock deal. Under the terms of the agreeement, shareholders of Sterling Financial Corporation will receive 1.671 shares of Umpqua common stock and $2.18 cash for each share of Sterling common stock.

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