Merger Arbitrage Mondays – December 23, 2013
Christmas came early to investment bankers with thirteen new mergers announced last week and six 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:
New Deals:
- The acquisition of NuPathe (PATH) by Endo Health Solutions (ENDP) for $105 million or $2.85 per share in cash. In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe’s migraine treatment ZECUITY are achieved over time.
- The acquisition of KKR Financial Holdings (KFN) by Kohlberg Kravis Roberts & Co. (KKR) for $2.6 billion in an all stock deal. Under the terms of the agreement, shareholders of KKR Financial Holdings will receive 0.51 common units of KKR for each common share of KFN.
- The acquisition of Brigus Gold Corp (BRD) by Primero Mining (PPP) in an all stock transaction. Under the terms of the agreement, shareholders of Brigus Gold Corp will be entitled to receive 0.175 of a Primero common share. In addition, Brigus shareholders will receive 0.1 of a common share in a newly incorporated company (“SpinCo”) for each Brigus common share. SpinCo will hold Brigus’ interests in the Goldfields project in Saskatchewan and the Ixhuatán and Huizopa projects in Mexico and will be capitalized with approximately C$10 million in cash.
Only plus or premium subscribers can access this post. Subscribe today.
