Merger Arbitrage Mondays – October 21, 2013

  • October 20, 2013

There was no change in the merger activity last week with two new deals announced and three deals 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 2013138
Total Number of Deals Not Completed in 20132
Total Number of Pending Deals
Cash Deals48
Stock Deals17
Stock & Cash Deals8
Total Number of Pending Deals73
Total Deal Size$356.51 billion

New Deals:

  1. The acquisition of Mac-Gray (TUC) by CSC ServiceWorks for $524 million or $21.25 per share in cash.
  2. The acquisition of Pactera Technology International (PACT) by Blackstone for $625 million or $7.30 per share in cash.

Closed Deals:

  1. The acquisition of Berry Petroleum (BRY) by LinnCo (LNCO) on October 15, 2013. It took 236 days for this deal to be completed.
  2. The acquisition of TMS International (TMS) by The Pritzger Organization on October 16, 2013. It took 51 days for this deal to be completed.
  3. The acquisition of Kaydon Corporation (KDN) by AB SKF on October 16, 2013. It took 41 days for this deal to be competed.

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$2.0812/31/201353.85%276.81%
CTB06/12/2013Apollo Tyres Ltd (N/A)$35.00$24.6412/31/201342.05%216.15%
NYX12/20/2012IntercontinentalExchange, Inc. (ICE)$51.16$45.0011/04/201313.69%356.92%
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$5.2709/30/201311.01%-191.29%
HOME09/24/2013Banner Corporation (BANR)$13.71$12.7503/31/20147.56%17.14%
BBRY09/23/2013Fairfax Financial Holdings Limited (N/A)$9.00$8.3812/31/20137.40%38.03%
MFLR05/14/2013Independent Bank Corp. (INDB)$20.94$19.8512/31/20135.49%28.20%
YONG09/23/2013Full Alliance International Limited (N/A)$6.69$6.3503/31/20145.35%12.14%
EVAC08/19/2013Atlas Copco Group (N/A)$10.50$10.0903/31/20144.06%9.21%
CIS09/18/2013Camelot Employee Scheme Inc. (N/A)$2.05$1.9701/15/20144.06%17.24%

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$2.0822,35912/31/201353.85%276.81%
+CTB06/12/2013Apollo Tyres Ltd (N/A)All Cash$2.5 billion$35.00$24.643,741,44312/31/201342.05%216.15%
+NYX12/20/2012IntercontinentalExchange, Inc. (ICE)All Stock$8.2 billion$51.16$45.001,410,20811/04/201313.69%356.92%
+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$5.27321,58409/30/201311.01%0.00%
+HOME09/24/2013Banner Corporation (BANR)Cash Plus Stock$197 million$13.71$12.7539,31703/31/20147.56%17.14%
+BBRY09/23/2013Fairfax Financial Holdings Limited (N/A)All Cash$4.7 billion$9.00$8.3815,691,37112/31/20137.40%38.03%
+MFLR05/14/2013Independent Bank Corp. (INDB)All Stock$37.2 million$20.94$19.855,43712/31/20135.49%28.20%
+YONG09/23/2013Full Alliance International Limited (N/A)All Cash$339 million$6.69$6.35490,15503/31/20145.35%12.14%
+EVAC08/19/2013Atlas Copco Group (N/A)All Cash$1.6 billion$10.50$10.0930,15503/31/20144.06%9.21%
+CIS09/18/2013Camelot Employee Scheme Inc. (N/A)All CashN/A$2.05$1.97289,37401/15/20144.06%17.24%
+CAFI10/10/2013Huntington Bancshares Incorporated (HBAN)All Stock$97 million$6.46$6.22104,12606/30/20143.94%5.70%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$9.65$9.308,149,84701/31/20143.73%13.34%
+BCSB06/14/2013F.N.B. Corporation (FNB)All Stock$79 million$26.21$25.4033,42312/31/20133.18%16.35%
+FBMI08/15/2013Mercantile Bank Corp. (MBWM)Cash Plus Stock$151.5 million$20.49$19.8823,61603/31/20143.07%6.96%
+ASIA05/13/2013CITIC Capital Partners (N/A)All Cash$890 million$12.00$11.67372,28009/30/20132.83%0.00%
+PACT10/17/2013Blackstone (N/A)All Cash$625 million$7.30$7.102,320,27603/31/20142.82%6.39%
+PVFC02/19/2013F.N.B. Corporation (FNB)All Stock$106.4 million$4.29$4.18N/A10/12/20132.64%0.00%
+WCRX05/20/2013Actavis, Inc. (ACT)All Stock$8.5 billion$23.51$22.93N/A12/31/20132.52%12.94%
+STSA09/11/2013Umpqua Holdings Corporation (UMPQ)Cash Plus Stock$2.0 billion$29.90$29.20519,32206/30/20142.40%3.48%
+PVR10/10/2013Regency Energy Partners LP (RGP)Cash Plus Stock$5.6 billion$26.93$26.32787,80603/31/20142.33%5.27%
+TOFC09/10/2013Old National Bancorp. (ONB)Cash Plus Stock$107.7 million$24.59$24.111,98503/31/20142.01%4.55%
+SCR08/28/2013Simcere Holding Limited (N/A)All Cash$495 million$9.66$9.471,60012/31/20132.01%10.31%
+CSE07/22/2013PacWest Bancorp (PACW)Cash Plus Stock$2.3 billion$13.00$12.751,869,51003/31/20141.92%4.36%
+SPRD07/12/2013Tsinghua Unigroup Ltd. (N/A)All Cash$1.78 billion$31.00$30.54501,68109/30/20131.51%0.00%
+FLOW09/25/2013American Industrial Partners (N/A)All Cash$200 million$4.05$3.99773,28601/31/20141.50%5.38%
+ROMA12/19/2012Investors Bancorp Inc. (ISBC)All Stock$113.5 million$19.73$19.4420,15111/30/20131.49%13.56%
+LIFE04/15/2013Thermo Fisher Scientific, Inc. (TMO)All Cash$13.6 billion$76.00$75.151,115,13401/31/20141.13%4.05%
+TPGI09/05/2013Parkway Properties Inc. (PKY)All Stock$1.2 billion$7.04$6.97104,34312/31/20131.06%5.45%
+CITZ05/13/2013First Merchants Corporation (FRME)All Stock114.7 million$12.45$12.3361,81112/31/20131.01%5.17%
+STEL06/10/2013Union First Market Bankshares Corporation (UBSH)All Stock$445.1 million$25.04$24.8071,87401/01/20140.96%4.88%
+ELN07/29/2013Perrigo Company (PRGO)Cash Plus Stock$8.6 billion$16.38$16.246,668,97212/31/20130.86%4.40%
+ACTV09/30/2013Vista Equity Partners (N/A)All Cash$1.05 billion$14.50$14.381,495,94612/31/20130.83%4.29%
+MAKO09/25/2013Stryker Corporation (SYK)All Cash$1.65 billion$30.00$29.761,545,53812/31/20130.81%4.15%
+TUC10/15/2013CSC ServiceWorks, Inc. (N/A)All Cash$524 million$21.25$21.09135,66206/30/20140.76%1.10%
+HITK08/27/2013Akorn, Inc. (AKRX)All Cash$640 million$43.50$43.2451,26503/31/20140.60%1.36%
+STEI05/29/2013Service Corp. International (SCI)All Cash$1.4 billion$13.25$13.18497,20410/16/20130.53%0.00%
+HWG06/05/2013Hallwood Financial Limited (N/A)All CashN/A$10.00$9.95N/A09/30/20130.50%0.00%
+VRNM09/20/2013BASF Corporation (N/A)All CashN/A$4.00$3.9852,80712/31/20130.50%2.58%
+NTSC08/16/2013Aurora Capital Group (N/A)All CashN/A$23.00$22.9043,11012/31/20130.44%2.24%
+STL04/04/2013Provident New York Bancorp (PBNY)All Stock$344 million$14.05$14.00150,70012/31/20130.37%1.90%
+MPG04/25/2013Affiliate of Brookfield Office Properties Inc. (N/A)All CashN/A$3.15$3.14N/A10/15/20130.32%0.00%
+SHFL07/16/2013Bally Technologies, Inc. (BYI)All Cash$1.3 billion$23.25$23.18870,80306/15/20140.30%0.47%
+ZOLT09/26/2013Toray Industries, Inc. (N/A)All Cash$584 million$16.75$16.70815,58601/31/20140.30%1.07%
+BLC06/13/2013Gannett Co., Inc. (GCI)All Cash$2.2 billion$13.75$13.71525,54512/31/20130.29%1.50%
+OMX02/20/2013Office Depot, Inc. (ODP)All Stock$1.17 billion$14.69$14.651,286,06012/31/20130.26%1.31%
+OPAY09/23/2013ACI Worldwide, Inc. (ACIW)All Cash$109 million$8.35$8.3388,32412/31/20130.24%1.23%
+LSE05/28/2013American Realty Capital Properties, Inc. (ARCP)All Cash$2.2 billion$8.50$8.48363,55912/02/20130.24%2.05%
+ALCS07/25/2013Argonne Capital Group LLC (N/A)All Cash$47 million$14.00$13.974,04012/31/20130.21%1.10%
+GCOM08/26/2013an affiliate of Wasserstein & Co. (N/A)All Cash$340 million$14.15$14.1260,07512/31/20130.21%1.09%
+NVE05/29/2013MidAmerican Energy Holdings Company (N/A)All Cash$10 billion$23.75$23.701,375,14703/31/20140.21%0.48%
+CRTX09/16/2013Chiesi Farmaceutici (N/A)All CashN/A$9.50$9.4867,10603/31/20140.21%0.48%
+HTSI07/09/2013The Kroger Co. (KR)All Cash$2.5 billion$49.38$49.28433,67412/31/20130.20%1.04%
+VCBI01/30/2013United Bankshares Inc. (UBSI)All Stock$490.6 million$16.26$16.2359,15309/30/20130.16%0.00%
+ANLY08/28/2013ACS Motion Control, Ltd. (ACSEF)All Cash$35 million$6.45$6.44N/A12/31/20130.16%0.80%
+NAFC07/22/2013Spartan Stores Inc. (SPTN)All Stock$1.3 billion$27.77$27.7332,92712/31/20130.14%0.70%
+WMS01/31/2013Scientific Games Corporation (SGMS)All Cash1.5 billion$26.00$25.98N/A12/31/20130.08%0.40%
+ROCM09/04/2013C. R. Bard (N/A)All Cash$262 million$20.00$19.9946,49712/31/20130.05%0.26%
+TGX08/05/2013Juniper Investment Company, LLC (N/A)All CashN/A$2.20$2.2028,68012/31/20130.00%0.00%
+TAYC07/15/2013MB Financial Inc. (MBFI)Cash Plus Stock$680 million$23.06$23.07102,65506/30/2014-0.03%-0.04%
+EDG10/01/2013Sumitomo Corporation of America, Inc. (N/A)All CashN/A$12.00$12.01185,02812/31/2013-0.08%-0.43%
+EIHI09/24/2013ProAssurance Corporation (PRA)All Cash$205 million$24.50$24.5322,51001/01/2014-0.12%-0.62%
+BZ09/16/2013Packaging Corporation of America (PKG)All Cash$1.995 billion$12.55$12.581,520,63512/31/2013-0.24%-1.23%
+SKS07/29/2013Hudson’s Bay Company (N/A)All Cash$2.9 billion$16.00$16.051,428,37912/31/2013-0.31%-1.60%
+MOLX09/09/2013Koch Industries, Inc. (N/A)All Cash$7.2 billion$38.50$38.64661,90112/31/2013-0.36%-1.86%
+GWAY09/23/2013Vitera Healthcare Solutions (N/A)All Cash$644 million$20.35$20.4393,23812/31/2013-0.39%-2.01%
+LPS05/28/2013Fidelity National Financial, Inc. (FNF)All Cash$2.9 billion$33.25$33.42576,72912/31/2013-0.51%-2.62%
+PSE08/12/2013Pioneer Natural Resources Company (PXD)All Stock$1.46 billion$52.30$52.5897,66312/31/2013-0.53%-2.73%
+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$13.8310,756,69411/01/2013-0.58%-19.19%
+TSRX07/30/2013Cubist Pharmaceuticals Inc. (CBST)All Cash$707 million$13.50$13.63N/A12/31/2013-0.95%-4.90%
+DOLE08/12/2013David H. Murdock, Dole�s Chairman and Chief Executive Officer (N/A)All Cash$1.6 billion$13.50$13.731,702,29412/31/2013-1.68%-8.61%
+LEAP07/12/2013AT&T, Inc. (T)All Cash$1.19 billion$15.00$15.961,722,88403/31/2014-6.02%-13.64%
+OPTR07/30/2013Cubist Pharmaceuticals Inc. (CBST)All Cash$535 million$10.75$12.85820,11012/31/2013-16.34%-84.01%
+VRTA05/31/2012Vestin Realty Mortgage II, Inc. (VRTB)All StockN/A$1.32$1.5810003/31/2013-16.44%29.42%