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Merger Arbitrage Mondays – January 5, 2015

  • January 4, 2015

Merger activity decreased last week with two 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:

Total Number of Deals Closed in 20153
Total Number of Pending Deals
Cash Deals32
Stock Deals21
Stock & Cash Deals17
Special Conditions10
Total Number of Pending Deals80
Total Deal Size$402.08 billion

New Deals:

  1. The acquisition of Meadowbrook Insurance Group (MIG) by Fosun International Limited for $433 million or $8.65 per share in cash.
  2. The acquisition of State Investors Bancorp (SIBC) by First NBC Bank Holding Company (NBCB) for $49 million or $21.25 per share in cash.

Closed Deals:

  1. The acquisition of First Financial Service (FFKY) by Community Bank Shares of Indiana (CBIN) on January 2, 2015. It took 255 days for this deal to be completed.
  2. The acquisition of TriQuint Semiconductor (TQNT) by RF Micro Devices (RFMD) on January 2, 2015. It took 312 days for this deal to be completed.
  3. The acquisition of SWS Group (SWS) by Hilltop Holdings (HTH) on January 2, 2015. It took 276 days for this deal to be completed.

Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

UPI12/22/2014Vision-Sciences Inc. (VSCI)$2.54$2.1006/30/201521.10%43.77%
EDS12/02/2013Pan Long Company Limited (N/A)$1.78$1.5012/31/201418.67%-1362.67%
BHI11/16/2014Halliburton Company (HAL)$63.23$56.1712/31/201512.57%12.74%
LO07/15/2014Reynolds American Inc. (RAI)$69.07$62.6406/30/201510.26%21.27%
DTV05/18/2014AT&T, Inc. (T)$95.00$86.6705/31/20159.61%24.03%
TWC02/13/2014Comcast Corporation (CMCSA)$164.88$150.6612/31/20149.44%-689.07%
APL10/13/2014Targa Resources Partners LP (NGLS)$30.02$28.0403/31/20157.07%30.36%
BTUI10/22/2014Amtech Systems Inc. (ASYS)$3.38$3.2003/31/20155.62%24.14%
AGN11/16/2014Actavis plc (ACT)$224.66$212.7506/30/20155.60%11.61%
IGT07/16/2014GTECH S.p.A. (GTKYY)$18.25$17.2906/30/20155.55%11.51%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.


SymbolAnnounced

Date

Acquiring

Company

Deal

Type

Closing

Value

Closing

Price

Last

Price

VolumeClosing

Date

ProfitAnnu.

Profit

+UPI12/22/2014Vision-Sciences Inc. (VSCI)All StockN/A$2.54$2.1046,43606/30/201521.10%43.77%
+EDS12/02/2013Pan Long Company Limited (N/A)All Cash$60.1 million$1.78$1.5050,39712/31/201418.67%0.00%
+BHI11/16/2014Halliburton Company (HAL)Cash Plus StockN/A$63.23$56.172,787,59412/31/201512.57%12.74%
+LO07/15/2014Reynolds American Inc. (RAI)Cash Plus Stock$27.4 billion$69.07$62.641,340,39506/30/201510.26%21.27%
+DTV05/18/2014AT&T, Inc. (T)Special Conditions$48.5 billion$95.00$86.671,424,43705/31/20159.61%24.03%
+TWC02/13/2014Comcast Corporation (CMCSA)All Stock$45.2 billion$164.88$150.66825,25912/31/20149.44%0.00%
+APL10/13/2014Targa Resources Partners LP (NGLS)Cash Plus Stock$5.8 billion$30.02$28.04323,73703/31/20157.07%30.36%
+BTUI10/22/2014Amtech Systems Inc. (ASYS)All StockN/A$3.38$3.2020,50103/31/20155.62%24.14%
+AGN11/16/2014Actavis plc (ACT)Cash Plus StockN/A$224.66$212.752,106,52206/30/20155.60%11.61%
+IGT07/16/2014GTECH S.p.A. (GTKYY)Special Conditions$6.4 billion$18.25$17.291,770,73906/30/20155.55%11.51%
+PEOP08/05/2014Independent Bank Corp. (INDB)All Stock$130.6 million$23.22$22.1280003/31/20154.99%21.44%
+WPZ10/27/2014Access Midstream Partners, L.P. (ACMP)All Stock$50 billion$48.41$46.19937,01001/31/20154.82%67.62%
+PZG12/17/2014Coeur Mining, Inc. (CDE)All Stock$146 million$1.07$1.02515,59406/30/20154.75%9.86%
+DRIV10/23/2014Siris Capital Group, LLC (N/A)All Cash$840 million$26.00$24.86212,18103/31/20154.59%19.69%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$10.54$10.131,705,09304/30/20154.01%12.74%
+APAGF10/03/2014Pluspetrol Resources Corporation (N/A)All Cash$427 million$14.50$13.9716,02512/31/20143.79%0.00%
+LNBB12/15/2014Northwest Bancshares, Inc. (NWBI)Special Conditions$183.3 million$18.70$18.0613,33306/30/20153.54%7.35%
+VYFC11/17/2014BNC Bancorp (BNCN)Special Conditions$101.3 million$20.50$19.807,83906/30/20153.54%7.33%
+PTP11/24/2014RenaissanceRe Holdings Ltd. (RNR)Special Conditions$1.9 billion$76.00$73.41181,54206/30/20153.53%7.32%
+MIG12/30/2014Fosun International Limited (N/A)All Cash$433 million$8.65$8.383,102,39512/31/20153.22%3.27%
+HBOS12/10/2014Renasant Corp. (RNST)All Stock$258 million$26.41$25.5922,14609/30/20153.20%4.35%
+SIBC12/30/2014First NBC Bank Holding Company (NBCB)All Cash$49 million$21.25$20.6012,90006/30/20153.16%6.54%
+RVBD12/15/2014Thoma Bravo, LLC and Teachers� Private Capital (N/A)All Cash$3.6 billion$21.00$20.391,822,01006/30/20152.99%6.20%
+SWY03/06/2014AB Acquisition LLC (N/A)Special ConditionsN/A$36.15$35.131,154,00712/31/20142.90%0.00%
+CMSB09/25/2014Putnam County Savings Bank (N/A)All Cash$25.4 million$13.25$12.8852806/30/20152.87%5.96%
+HCT06/02/2014Ventas, Inc. (VTR)All Stock$2.6 billion$12.37$12.052,161,17912/31/20142.69%0.00%
+SUSQ11/12/2014BB&T Corporation (BBT)Cash Plus Stock$2.5 billion$13.83$13.471,572,72806/30/20152.66%5.52%
+TRW09/15/2014ZF Friedrichshafen AG (“ZF”) (N/A)All Cash$13.5 billion$105.60$102.93511,59406/30/20152.59%5.38%
+CODE12/01/2014Cypress Semiconductor Corporation (CY)All Stock$4 billion$35.53$34.671,127,98406/30/20152.48%5.13%
+TLM12/15/2014Repsol S.A. (N/A)All Cash$13 billion$8.00$7.8119,431,58406/30/20152.43%5.05%
+TRLA07/28/2014Zillow, Inc. (Z)All Stock$3.5 billion$46.03$44.97269,57103/31/20152.37%10.16%
+NBTF08/04/2014Peoples Bancorp Inc. (PEBO)Cash Plus Stock$109 million$31.46$30.7430303/31/20152.33%10.02%
+PRLS12/22/2014Mobius Acquisition, LLC (N/A)All CashN/A$7.00$6.8525,79203/31/20152.19%9.40%
+CACQ12/22/2014Caesars Entertainment Corporation (CZR)All StockN/A$10.25$10.0499,71603/31/20152.11%9.07%
+HVB11/05/2014Sterling Bancorp. (STL)All Stock$539 million$27.03$26.5051,16906/30/20152.01%4.18%
+PETM12/14/2014a consortium led by BC Partners (N/A)All Cash$8.7 billion$83.00$81.38735,87006/30/20151.99%4.13%
+CIMT11/24/20143D Systems Corporation (DDD)All Cash$97 million$8.97$8.81216,45803/31/20151.82%7.80%
+COV06/15/2014Medtronic, Inc. (MDT)Cash Plus Stock$42.9 billion$103.91$102.072,997,64301/31/20151.80%25.27%
+AVIV10/31/2014Omega Healthcare Investors Inc. (OHI)All Stock$3 billion$36.39$35.77148,79903/31/20151.72%7.41%
+SMPL09/29/2014HomeStreet, Inc. (HMST)All StockN/A$17.29$17.023,47903/31/20151.59%6.81%
+ESBF10/29/2014WesBanco Inc. (WSBC)Cash Plus Stock$324.4 million$18.94$18.6711,61806/30/20151.44%2.98%
+BKYF09/08/2014BB&T Corporation (BBT)Cash Plus Stock$363 million$48.54$47.8532,18203/31/20151.44%6.17%
+DRC09/21/2014Siemens (N/A)All Cash$7.6 billion$83.00$81.88561,43906/30/20151.37%2.84%
+PENX10/15/2014Ingredion Incorporated (INGR)All Cash$340 million$19.00$18.7526,04512/31/20141.33%0.00%
+CBST12/08/2014Merck & Co. Inc. (MRK)All Cash$9.5 billion$102.00$100.761,990,16103/31/20151.23%5.28%
+VIAS09/22/2014TTM Technologies Inc. (TTMI)Cash Plus Stock$927 million$16.54$16.3411,62006/30/20151.23%2.54%
+HBNK11/04/2014Berkshire Hills Bancorp Inc. (BHLB)All Stock$109 million$21.23$21.001,44105/15/20151.10%3.08%
+CNL10/20/2014Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC) (N/A)All Cash$4.7 billion$55.37$54.79255,07512/31/20151.06%1.07%
+ESYS11/04/2014Lindsay Corporation (LNN)All Cash$70.5 million$17.50$17.357,62201/31/20150.86%12.14%
+ROC07/15/2014Albemarle Corporation (ALB)Cash Plus Stock$6.2 billion$79.62$78.94420,09003/31/20150.86%3.68%
+CVD11/03/2014Laboratory Corp. of America Holdings (LH)Cash Plus Stock$5.6 billion$105.69$104.83668,54303/31/20150.82%3.51%
+VOLC12/17/2014Koninklijke Philips N.V (PHG)All Cash$1.2 billion$18.00$17.862,189,67303/31/20150.78%3.37%
+CFN10/05/2014Becton, Dickinson and Company (BDX)Cash Plus Stock$12.2 billion$59.87$59.431,603,60206/30/20150.74%1.53%
+XWES11/04/2014EnerNOC, Inc. (ENOC)All CashN/A$5.50$5.4639,04801/15/20150.73%26.74%
+CHYR11/17/2014Vector Capital (N/A)All CashN/A$2.82$2.80338,12103/31/20150.71%3.07%
+SAPE11/03/2014Publicis Groupe (N/A)All Cash$3.7 billion$25.00$24.85584,00903/31/20150.60%2.59%
+TEG06/23/2014Wisconsin Energy Corp. (WEC)Cash Plus Stock$9.1 billion$78.58$78.16379,28506/30/20150.54%1.11%
+PL06/03/2014Dai-ichi Life Insurance Company (N/A)All Cash$5.7 billion$70.00$69.68541,97001/31/20150.46%6.45%
+GTIV10/09/2014Kindred Healthcare Inc. (KND)Cash Plus Stock$1.8 billion$19.07$18.98173,13903/31/20150.46%1.97%
+OILT11/12/2014Enterprise Products Partners L.P. (EPD)All StockN/A$47.88$47.6783,95103/31/20150.44%1.88%
+PTRY12/18/2014Alimentation Couche-Tard Inc. (N/A)All Cash$1.7 billion$36.75$36.60617,61806/30/20150.41%0.85%
+POM04/30/2014Exelon Corporation (EXC)All Cash$7.2 billion$27.25$27.141,323,48009/30/20150.41%0.55%
+GRT09/16/2014Washington Prime Group Inc. (WPG)Cash Plus Stock$4.3 billion$13.86$13.81527,99001/15/20150.40%14.49%
+AVNR12/02/2014Otsuka Pharmaceutical Co., Ltd. (N/A)All Cash$3.5 billion$17.00$16.948,785,81203/31/20150.35%1.52%
+GFIG07/30/2014BGC Partners (BGCP)All CashN/A$5.45$5.44267,90601/06/20150.18%67.10%
+IRF08/20/2014Infineon Technologies AG (IFNNY)All Cash$2.4 billion$40.00$39.94826,80501/31/20150.15%2.11%
+CQB10/27/2014Cutrale-Safra group (N/A)All Cash$1.3 billion$14.50$14.48569,31501/31/20150.14%1.94%
+BIRT12/05/2014OpenText (N/A)All Cash$330 million$6.60$6.60161,37203/31/20150.00%0.00%
+MFI12/15/2014an affiliate of funds managed by affiliates of Fortress Investment Group LLC (FIG)All CashN/A$10.20$10.20645,06903/31/20150.00%0.00%
+AMRE10/31/2014Edens Investment Trust (N/A)All CashN/A$26.55$26.58385,59203/31/2015-0.11%-0.48%
+HE12/03/2014NextEra Energy, Inc. (NEE)Special Conditions$4.3 billion$33.50$33.61939,65212/31/2015-0.33%-0.33%
+FRNK07/15/2014Towne Bank (TOWN)All Stock$275 million$21.49$21.71138,05612/31/2014-1.01%73.98%
+COBK09/10/2014Cape Bancorp, Inc. (CBNJ)All Stock$55 million$13.19$13.381,84103/31/2015-1.43%-6.16%
+WMGI10/27/2014Tornier N.V. (TRNX)All Stock$1.72 billion$25.89$26.67727,17306/30/2015-2.94%-6.10%
+AUXL10/09/2014Endo International plc (ENDP)Special Conditions$2.6 billion$33.25$34.47344,00306/30/2015-3.54%-7.34%
+DWSN10/09/2014TGC Industries Inc. (TGE)All StockN/A$11.99$12.4519,31503/31/2015-3.73%-16.02%
+FDO07/28/2014Dollar Tree, Inc. (DLTR)Special Conditions$9.2 billion$74.50$78.89625,74901/31/2015-5.56%-78.12%
+RNA11/24/2014BioMarin Pharmaceutical Inc. (BMRN)All Cash$680 million$17.75$18.83117,16703/31/2015-5.74%-24.63%
+GECR06/23/2014State Bank Financial Corporation (STBZ)Special Conditions$82 million$22.35$24.29N/A03/31/2015-7.99%-34.30%
+ATLS10/13/2014Targa Resources Corp. (TRGP)Cash Plus Stock$1.9 billion$28.49$31.58486,82103/31/2015-9.79%-42.06%

Voluntary Disclosure: I hold a long position in Safeway (SWY).

Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria