Merger Arbitrage Mondays – June 1, 2015
Merger activity decreased last week with six new deals 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 Time Warner Cable (TWC) by Charter Communications (CHTR) for $78.7 billion in a cash plus stock deal. Under the terms of the agreement, Charter will provide $100.00 in cash and shares of a new public parent company (“New Charter”) equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband Corporation or Liberty Interactive Corporation, who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own.
- The acquisition of Geeknet (GKNT) by Hot Topic for $122 million or $17.50 per share in cash. Geeknet showed up on my radar as a result of several insider transactions by Kenneth Langone over a period of several years.
- The acquisition of SFX Entertainment (SFXE) by an affiliate of Robert F.X. Sillerman, the Company’s Chairman and Chief Executive Officer for $774 million or $5.25 per share in cash.
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