Merger Arbitrage Mondays – January 13, 2014
Merger Activity increased last week with with three new mergers 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:
New Deals:
- The acquisition of Tower Group International (TWGP) by ACP Re Ltd. for $172.1 million or $3.00 per share in cash.
- The acquisition of Pacer International (PACR) by XPO Logistics (XPO) for an enterprise value of $296 million. Shareholders of Pacer International will receive $6.00 in cash and $3.00 of XPO Logistics common stock for each share of Pacer common stock, subject to a price collar. If the average price of XPO Logistics stock during the 10 trading days prior to closing is above $32.94 per share, the stock portion will be fixed at 0.0911 shares of XPO Logistics and if it is below $23.12 per share, the stock portion will be fixed at 0.1298 shares of XPO Logistics for each share of Pacer.
- The acquisition of Material Sciences Corporation (MASC) by Zink Acquisition Holdings for $139 million or $12.75 per share in cash.
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