Merger Arbitrage Mondays – June 9, 2014
Merger Activity increased last week with four new mergers announced and five 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 American Realty Capital Healthcare Trust (HCT) by Ventas (VTR) for $2.6 billion. Under the terms of the agreement, shareholders of American Realty Capital Healthcare Trust can choose to receive 0.1688 Ventas common shares or $11.33 in cash for each common share of ARC Healthcare they own. Since the cash portion of the deal is subject to a cap of 10 percent of ARC Healthcare’s outstanding shares, we are treating this deal as an all-stock deal.
- The acquisition of Protective Life Corporation (PL) by Dai-ichi Life Insurance Company for $5.7 billion or $70.00 per share in cash.
- The acquisition of TF Financial Corporation (THRD) by National Penn Bancshares (NPBC) for $138 million. Under the terms of the agreement, shareholders of TF Financial Corporation may elect to receive either $42.00 in cash or a fixed exchange ratio of 4.22 shares of National Penn stock for each share of TF Financial common stock. Since only 40% of TF Financial shareholders will receive cash and 60% of shareholders will National Penn shares, we are treating this as an all-stock deal.
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