Merger Arbitrage Mondays – May 4, 2015
Merger activity increased last week with five new deals announced and five 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 iGATE Corporation (IGTE) by Capgemini for $4 billion or $48.00 per share in cash.
- The acquisition of MCG Capital Corporation (MCGC) by PennantPark Floating Rate Capital (PFLT) for $175 million. Under the terms of the transaction, MCGC stockholders will receive $4.521 in PFLT shares for each MCGC share, resulting in approximately 11.8 million PFLT shares expected to be issued in exchange for the approximately 36.9 million MCGC shares expected to be outstanding at closing. Additionally, each MCGC shareholder will receive $0.226 per share in cash from PennantPark Investment Advisers, LLC. To the extent PFLT’s 10-day volume-weighted average price is less than PFLT’s NAV, the Adviser will pay up to an additional $0.25 per PFLT share issued in this transaction.
- The acquisition of OmniVision Technologies (OVTI) by Hua Capital Management , CITIC Capital Holdings Limited , and GoldStone Investment (collectively, the “Consortium”) for $1.9 billion or $29.75 per share in cash.
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