Merger Arbitrage Mondays – August 11, 2014
Merger Activity decreased last week with three new mergers announced and two 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 NB&T Financial Group (NBTF) by Peoples Bancorp (PEBO) for $109 million in a cash plus stock deal. Under the terms of the agreement, shareholders of NB&T Financial Group will receive 0.9319 shares of Peoples common stock and $7.75 in cash for each share of NBTF common stock.
- The acquisition of Pike Corporation (PIKE) by Court Square Capital Partners & J. Eric Pike, the Company’s Chairman and Chief Executive Officer for $12.00 per share in cash.
- The acquisition of Peoples Federal Bancshares (PEOP) by Independent Bank (INDB) for $130.6 million in an all stock deal. Under the terms of the agreement, 60% of outstanding Peoples Federal Bancshares shares will be exchanged for Independent shares at a fixed exchange ratio of .5523 and the remaining 40% of outstanding Peoples Federal shares will be exchanged for $21.00 per share in cash. Peoples Federal shareholders will be able to elect between receiving cash or Independent shares, subject to proration and allocation so that 60% of outstanding Peoples Federal shares are exchanged for Independent stock and 40% exchanged for cash. We are treating this as an all stock deal.
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