Merger Arbitrage Mondays – March 30, 2015
Merger activity increased last week with three new deals announced and one deal 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 Kofax Limited (KFX) by Lexmark International (LXK) for approximately $1 billion or $11.00 per share in cash.
- The acquisition of First Security Group (FSGI) by Atlantic Capital Bancshares for approximately $160 million or $2.35 per share in cash. FSG shareholders may elect cash equal to $2.35 per share, stock based on a fixed exchange ratio of 0.188 shares of Atlantic Capital common stock for each FSG share or any combination thereof. The total consideration will consist of 40% cash and 60% stock. We are treating this as an all-cash deal.
- On March 25, 2015, H.J. Heinz Company and Kraft Foods Group (KRFT) announced that they have entered into a definitive merger agreement to create The Kraft Heinz Company. Under the terms of the agreement, Kraft shareholders will own a 49% stake in the combined company, and current Heinz shareholders will own 51% on a fully diluted basis. Kraft shareholders will receive stock in the combined company and a special cash dividend of $16.50 per share.
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