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Merger Arbitrage Mondays – December 8, 2014

  • December 8, 2014

There was no change in merger activity last week with three new mergers announced and four 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:

  1. The acquisition of Spansion (CODE) by Cypress Semiconductor Corporation (CY) for $4 billion in an all stock deal. Under the terms of the agreement, shareholders of Spansion will receive 2.457 Cypress shares for each Spansion share they own.
  2. The acquisition of Avanir Pharmaceuticals (AVNR) by Otsuka Pharmaceutical for $3.5 billion or $17.00 per share in cash.
  3. The acquisition of Hawaiian Electric Industries (HE) by NextEra Energy (NEE) for $4.3 billion. Upon completion of the merger, shareholders of Hawaiian Electric Industries will receive a $0.50 special dividend, 0.2413 shares of NextEra Energy common stock, and a share in ASB Hawaii valued at $8.00, per share held. In connection with the agreement, HEI plans to spin off ASB Hawaii to HEI shareholders and establish it as an independent publicly traded company, immediately prior to and contingent upon the completion of the combination of HEI with NextEra Energy.

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