Merger Arbitrage Mondays – June 29, 2015
Merger activity decreased last week with three new deals 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:
New Deals:
- The acquisition of Martha Stewart Living Omnimedia (MSO) by Sequential Brands Group (SQBG) for $353 million or $6.15 per share in cash. Under the terms of the merger agreement, each of Sequential and MSLO will merge with and into subsidiaries of a newly formed public holding company (“TopCo”). TopCo will continue as a publicly traded company and be renamed Sequential Brands Group, Inc. Pursuant to the terms of the merger agreement, each share of Sequential common stock will be converted into one share of TopCo common stock. MSLO stockholders will be entitled to elect to receive either (a) $6.15 in cash or (b) a number of shares of TopCo common stock equal to $6.15 divided by the volume weighted average price of Sequential common stock during the five-day period ending on the trading day immediately prior to closing, for each share of MSLO common stock held. The cash and stock elections by MSLO stockholders will be subject to proration in the event of oversubscription.
- The acquisition of Home Properties (HME) by an affiliate of Lone Star Funds for $7.6 billion or $75.23 per share in cash.
- The acquisition of Sutron Corporation (STRN) by an affiliate of Hach Company for $39 million or $8.50 per share in cash.
Only plus or premium subscribers can access this post. Subscribe today.
