Merger Arbitrage Mondays – May 5, 2014
Merger Activity increased last week with six new mergers announced, and eight 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 Susser Holdings Corporation (SUSS) by Energy Transfer Partners (ETP) for $1.8 billion in a cash or stock deal. Under the terms of the agreement, shareholders of Susser Holdings Corporation can elect to receive either $80.25 in cash or 1.4506 ETP common units, or a combination of both, for each share held. The shareholder election is subject to proration to ensure that aggregate cash paid and common units issued will each represent 50% of the aggregate merger consideration.
- The acquisition of Furiex Pharmaceuticals (FURX) by Forest Laboratories (FRX) for $1.1 billion or $95.00 per share in cash and up to $30 per share (approximately $360 million in aggregate) in a Contingent Value Right (CVR) that may be payable based on the status of eluxadoline, Furiex’s lead product, as a controlled drug following approval.
- The acquisition of Orbital Sciences (ORB) by Alliant Techsystems (ATK) for $5 billion in an all stock deal. Under the terms of the agrement, shareholders of Orbital Sciences will receive 0.449 shares of Alliant Techsystems common stock for each share of Orbital common stock held. Before the completion of the merger, there will be a spin-off from ATK of its Sporting Goods. We are not including this deal in our Merger Arbitrage tool.
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