Merger Arbitrage Mondays – July 6, 2015
Merger activity increased last week with seven new deals announced and nine 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 Ameriana Bancorp (ASBI) by First Merchants Corporation (FRME) for $68.8 million in an all stock deal. Under the terms of the agreement, shareholders of Ameriana Bancorp will have the right to exchange each Ameriana Bancorp common share held for 0.9037 shares of First Merchants’ common stock.
- The acquisition of Towers Watson & Co. (TW) by Willis Group Holdings Public Limited Company (WSH) for $8.7 billion. Under the terms of the agreement, Towers Watson shareholders will receive 2.6490 Willis shares for each Towers Watson share. Towers Watson shareholders will also receive a one-time cash dividend of $4.87 per Towers Watson share pre-closing. Subject to Willis shareholder approval, Willis expects to implement a 2.6490 for one reverse stock split, so that each one Willis share will be converted into 0.3775 Willis Towers Watson shares. If the reverse stock split is approved, Towers Watson shareholders will receive one share of Willis Towers Watson for each Towers Watson share. The merger is not conditioned on Willis shareholder approval of the reverse stock split.
- The acquisition of The Chubb Corporation (CB) by ACE Limited (ACE) for $28.3 billion in a cash plus stock deal. Under the terms of the agreement, Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock.
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