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Merger Arbitrage Mondays – September 2, 2013

  • September 2, 2013

Merger activity increased last week with five 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 2013107
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals54
Stock Deals20
Stock & Cash Deals5
Total Number of Pending Deals79
Total Deal Size$325.09 billion

New Deals:

  1. The acquisition of Globecomm Systems (GCOM) by an affiliate of Wasserstein & Co. for $340 million or $14.15 per share in cash.
  2. The acquisition of TMS International (TMS) by The Pritzger Organization for $1 billion or $17.50 per share in cash.
  3. The acquisition of Hi-Tech Pharmacal (HITK) by Akorn (AKRX) for $640 million or $43.50 per share in cash.
  4. The acquisition of Analysts International (ANLY) by ACS Motion Control for $35 million or $6.45 per share in cash.
  5. The acquisition of Simcere Pharmaceutical Group (SCR) by Simcere Holding Limited for $495 million or $9.66 per share in cash.

Closed Deals:

  1. The acquisition of Met-Pro (MPR) by CECO Environmental (CECE) on August 28, 2013. It took 128 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$2.7412/31/201316.79%51.06%
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$5.0609/30/201315.61%203.52%
PBTH04/24/2013Opko Health, Inc. (OPK)$9.19$8.2312/31/201311.72%35.65%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$46.39$41.8012/31/201310.99%33.43%
CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)$24.50$22.0909/30/201310.91%142.22%
CTB06/12/2013Apollo Tyres Ltd (N/A)$35.00$31.9312/31/20139.61%29.24%
EVAC08/19/2013Atlas Copco Group (N/A)$10.50$9.7903/31/20147.25%12.61%
ASIA05/13/2013CITIC Capital Partners (N/A)$12.00$11.3509/30/20135.73%74.65%
HWG06/05/2013Hallwood Financial Limited (N/A)$10.00$9.5109/30/20135.15%67.17%
MFLR05/14/2013Independent Bank Corp. (INDB)$20.06$19.1512/31/20134.77%14.50%

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

+WH02/21/2013WSP OCTG GROUP Ltd. (N/A)All Cash$893.6 million$3.20$2.7417,90212/31/201316.79%51.06%
+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$5.06160,64009/30/201315.61%203.52%
+PBTH04/24/2013Opko Health, Inc. (OPK)All Stock$480 million$9.19$8.23N/A12/31/201311.72%35.65%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$46.39$41.801,044,66512/31/201310.99%33.43%
+CLP06/03/2013Mid-America Apartment Communities Inc. (MAA)All Cash$8.6 billion$24.50$22.09510,24009/30/201310.91%142.22%
+CTB06/12/2013Apollo Tyres Ltd (N/A)All Cash$2.5 billion$35.00$31.931,844,88612/31/20139.61%29.24%
+EVAC08/19/2013Atlas Copco Group (N/A)All Cash$1.6 billion$10.50$9.79469,89703/31/20147.25%12.61%
+ASIA05/13/2013CITIC Capital Partners (N/A)All Cash$890 million$12.00$11.35242,20609/30/20135.73%74.65%
+HWG06/05/2013Hallwood Financial Limited (N/A)All CashN/A$10.00$9.511,77609/30/20135.15%67.17%
+MFLR05/14/2013Independent Bank Corp. (INDB)All Stock$37.2 million$20.06$19.151,80012/31/20134.77%14.50%
+NLP12/27/2012J.D. Nichols & Brian F. Lavin (N/A)All CashN/A$7.50$7.173,00006/30/20134.60%0.00%
+BCSB06/14/2013F.N.B. Corporation (FNB)All Stock$79 million$25.11$24.062,39912/31/20134.35%13.22%
+LPS05/28/2013Fidelity National Financial, Inc. (FNF)All Cash$2.9 billion$33.25$31.90668,20312/31/20134.23%12.87%
+OMX02/20/2013Office Depot, Inc. (ODP)All Stock$1.17 billion$11.27$10.871,296,41512/31/20133.69%11.22%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$9.52$9.193,587,39801/31/20143.63%8.78%
+CSE07/22/2013PacWest Bancorp (PACW)Cash Plus Stock$2.3 billion$11.90$11.551,258,06403/31/20143.06%5.31%
+RUE05/23/2013Apax Partners (N/A)All Cash$1.1 billion$42.00$40.85424,92812/31/20132.82%8.56%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$15.11$14.7365,22009/30/20132.60%33.84%
+SPRD07/12/2013Tsinghua Unigroup Ltd. (N/A)All Cash$1.78 billion$31.00$30.26259,40409/30/20132.45%31.88%
+LIFE04/15/2013Thermo Fisher Scientific, Inc. (TMO)All Cash$13.6 billion$76.00$74.411,534,08301/31/20142.14%5.17%
+SHFL07/16/2013Bally Technologies, Inc. (BYI)All Cash$1.3 billion$23.25$22.77746,19106/15/20142.11%2.69%
+ARB12/18/2012Nielsen Holdings N.V. (NLSN)All CashN/A$48.00$47.06384,46109/30/20132.00%26.04%
+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$8.241,37506/30/20131.94%0.00%
+ELN07/29/2013Perrigo Company (PRGO)Cash Plus Stock$8.6 billion$15.53$15.244,066,08912/31/20131.91%5.82%
+GCOM08/26/2013an affiliate of Wasserstein & Co. (N/A)All Cash$340 million$14.15$13.90395,07212/31/20131.80%5.47%
+SCR08/28/2013Simcere Holding Limited (N/A)All Cash$495 million$9.66$9.4972,42612/31/20131.79%5.45%
+STEL06/10/2013Union First Market Bankshares Corporation (UBSH)All Stock$445.1 million$20.83$20.4877,96901/01/20141.72%5.18%
+SFD05/29/2013Shuanghui International (N/A)All Cash$7.1 billion$34.00$33.531,073,76312/31/20131.40%4.26%
+IN12/10/2012Honeywell International Inc. (HON)All Cash$600 million$10.00$9.872,078,28006/30/20131.32%0.00%
+STEI05/29/2013Service Corp. International (SCI)All Cash$1.4 billion$13.25$13.08292,27609/30/20131.30%16.94%
+CITZ05/13/2013First Merchants Corporation (FRME)All Stock114.7 million$11.10$10.968,50912/31/20131.30%3.94%
+MPG04/25/2013Affiliate of Brookfield Office Properties Inc. (N/A)All CashN/A$3.15$3.11235,25109/30/20131.29%16.77%
+NVE05/29/2013MidAmerican Energy Holdings Company (N/A)All Cash$10 billion$23.75$23.451,532,51703/31/20141.28%2.22%
+STL04/04/2013Provident New York Bancorp (PBNY)All Stock$344 million$12.85$12.69139,47012/31/20131.28%3.89%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.70292,53912/31/20131.17%3.55%
+ONXX08/25/2013Amgen Inc. (AMGN)All Cash$10.4 billion$125.00$123.581,804,95310/31/20131.15%7.11%
+NAFC07/22/2013Spartan Stores Inc. (SPTN)All Stock$1.3 billion$24.67$24.4324,17812/31/20130.99%3.01%
+PVFC02/19/2013F.N.B. Corporation (FNB)All Stock$106.4 million$4.11$4.071,53009/30/20130.98%12.76%
+TAYC07/15/2013MB Financial Inc. (MBFI)Cash Plus Stock$680 million$21.36$21.1644,38806/30/20140.94%1.14%
+ANLY08/28/2013ACS Motion Control, Ltd. (ACSEF)All Cash$35 million$6.45$6.39102,34712/31/20130.94%2.86%
+TGX08/05/2013Juniper Investment Company, LLC (N/A)All CashN/A$2.20$2.1843,95812/31/20130.92%2.79%
+HITK08/27/2013Akorn, Inc. (AKRX)All Cash$640 million$43.50$43.11344,77003/31/20140.90%1.57%
+WCRX05/20/2013Actavis, Inc. (ACT)All Stock$8.5 billion$21.63$21.451,324,02812/31/20130.83%2.54%
+CXPO04/30/2013Contango Oil & Gas Company (MCF)All Stock$390 million$2.97$2.9556,41509/30/20130.75%9.76%
+FIRE07/23/2013Cisco Systems, Inc. (CSCO)All Cash$2.7 billion$76.00$75.46608,13012/31/20130.72%2.18%
+MEMS04/23/2013IDG-Accel China Capital II, L.P. (N/A)All CashN$4.23$4.2053,37209/30/20130.71%9.31%
+NTSC08/16/2013Aurora Capital Group (N/A)All CashN/A$23.00$22.84105,46512/31/20130.70%2.13%
+STEC06/24/2013Western Digital Corporation (WDC)All Cash$340 million$6.85$6.81511,72612/31/20130.59%1.79%
+BMC05/06/2013Bain Capital and Golden Gate Capital (N/A)All Cash$6.9 billion$46.25$46.001,114,43812/31/20130.54%1.65%
+TMS08/26/2013The Pritzger Organization (N/A)All Cash$1 billion$17.50$17.41580,46712/31/20130.52%1.57%
+HTSI07/09/2013The Kroger Co. (KR)All Cash$2.5 billion$49.38$49.15824,90612/31/20130.47%1.42%
+SKS07/29/2013Hudson’s Bay Company (N/A)All Cash$2.9 billion$16.00$15.932,672,17312/31/20130.44%1.34%
+VLTR08/15/2013Maxim Integrated Products, Inc. (MXIM)All Cash$605 million$23.00$22.921,074,18410/31/20130.35%2.16%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$18.02$17.9625,93706/30/20130.31%0.00%
+MFB07/24/2013Hanesbrands Inc. (HBI)All Cash$575 million$23.50$23.44144,03212/31/20130.26%0.78%
+VHS06/24/2013Tenet Healthcare Corp. (THC)All Cash$4.3 billion$21.00$20.95343,88612/31/20130.24%0.73%
+BKR07/29/2013Integrated Mission Solutions LLC (N/A)All Cash$391.6 million$40.50$40.44111,03110/31/20130.15%0.92%
+FCFC12/21/2012Varde Partners Inc. (N/A)All Cash$225 million$10.00$9.99N/A06/30/20130.10%0.00%
+MBND05/22/2013Goodman Networks (N/A)All Cash$116 million$3.25$3.25455,46409/30/20130.00%0.00%
+FMFC02/07/2013Renasant Corp. (RNST)All Stock$118.8 million$16.17$16.1916,82709/30/2013-0.11%-1.47%
+LSE05/28/2013American Realty Capital Properties, Inc. (ARCP)All Cash$2.2 billion$8.50$8.51306,82409/30/2013-0.12%-1.53%
+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$13.75$13.776,182,27809/15/2013-0.15%-4.08%
+CMLP05/06/2013Inergy Midstream (NRGM)Cash Plus StockN/A$25.90$25.9430,77709/30/2013-0.17%-2.17%
+PSE08/12/2013Pioneer Natural Resources Company (PXD)All Stock$1.46 billion$40.68$40.90238,65912/31/2013-0.54%-1.63%
+NFSB03/05/2013SI Financial Group Inc. (SIFI)All Stock$61.3 million$16.90$17.10N/A09/30/2013-1.17%-15.32%
+TSRX07/30/2013Cubist Pharmaceuticals Inc. (CBST)All Cash$707 million$13.50$13.67803,16312/31/2013-1.24%-3.78%
+LEAP07/12/2013AT&T, Inc. (T)All Cash$1.19 billion$15.00$15.201,530,80503/31/2014-1.32%-2.29%
+DOLE08/12/2013David H. Murdock, Dole�s Chairman and Chief Executive Officer (N/A)All Cash$1.6 billion$13.50$13.72748,96812/31/2013-1.60%-4.88%
+BLC06/13/2013Gannett Co., Inc. (GCI)All Cash$2.2 billion$13.75$14.14713,02912/31/2013-2.76%-8.39%
+ASI06/03/2013Fairfax Financial Holdings Limited (N/A)All Cash$306 million$29.25$30.1383,56212/31/2013-2.92%-8.88%
+ALCS07/25/2013Argonne Capital Group LLC (N/A)All Cash$47 million$14.00$14.603,70012/31/2013-4.11%-12.50%
+FBMI08/15/2013Mercantile Bank Corp. (MBWM)Cash Plus Stock$151.5 million$18.00$18.825,61403/31/2014-4.36%-7.57%
+LEDR05/08/2013Trulia, Inc. (TRLA)All Cash$355 million$11.33$12.66N/A09/30/2013-10.51%-136.95%
+LVB07/01/2013Kohlberg & Company (N/A)All Cash$438 million$35.00$40.2632,73109/30/2013-13.07%-170.31%
+OPTR07/30/2013Cubist Pharmaceuticals Inc. (CBST)All Cash$535 million$10.75$12.51250,17312/31/2013-14.07%-42.79%
+BRY02/21/2013LinnCo, LLC (LNCO)All Stock$4.3 billion$34.59$41.15211,62709/30/2013-15.95%-207.89%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.38$1.78N/A03/31/2013-22.61%53.24%
+MEAD05/17/2013Jinghua Optics & Electronics Co., Ltd. (N/A)All Cash$4.5 million$3.45$4.501,09809/30/2013-23.33%-304.17%
+WAVE08/02/2012AT&T, Inc. (T)All Cash$600 million$1.00$1.44N/A03/31/2013-30.56%71.95%