×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

Merger Arbitrage Mondays – September 28, 2015

  • September 27, 2015

Merger activity declined sharply last week with one new deal announced and one closing.

You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.

Deal Statistics:

Total Number of Deals Closed in 2015146
Total Number of Deals Not Completed in 20154
Total Number of Pending Deals
Cash Deals51
Stock Deals17
Stock & Cash Deals16
Special Conditions7
Total Number of Pending Deals91
Total Deal Size$1149.26 billion

New Deals:

  1. The acquisition of Atmel Corporation (ATML) by Dialog Semiconductor (DLGNF) for $4.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Atmel Corporation will receive $4.65 in cash and 0.112 of a Dialog American Depository Share for each Atmel common share held.

Closed Deals:

  1. The acquisition of Tecumseh Products Company (TECU) by Mueller Industries, Inc. and Atlas Holdings LLC on September 21, 2015. It took 47 days for this deal to be completed.

Top 10 deals with largest spreads:

SymbolAnnounced

Date

Acquiring

Company

Closing

Price

Last

Price

Closing

Date

ProfitAnnualized

Profit

ODP02/04/2015Staples, Inc. (SPLS)$9.96$6.9612/31/201543.09%167.30%
VSLR07/20/2015SunEdison, Inc. (SUNE)$16.50$11.7312/31/201540.66%157.90%
WPZ05/13/2015Williams Companies, Inc. (WMB)$46.38$35.7409/30/201529.78%5435.17%
NKA06/14/2015Brookfield Infrastructure (N/A)$4.23$3.2612/31/201629.75%23.61%
CI07/24/2015Anthem, Inc. (ANTM)$176.53$137.4812/31/201628.41%22.54%
TLR09/15/2015Waterton Precious Metals Fund II Cayman, LP (N/A)$0.58$0.47512/31/201522.11%85.83%
HUM07/03/2015Aetna Inc. (AET)$218.82$181.1512/31/201620.79%16.50%
HE12/03/2014NextEra Energy, Inc. (NEE)$33.50$28.2512/31/201518.58%72.16%
YDLE08/10/2015Envestnet, Inc. (ENV)$18.88$16.1703/31/201616.76%33.07%
POM04/30/2014Exelon Corporation (EXC)$27.25$23.7009/30/201514.98%2733.65%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.

SymbolAnnounced

Date

Acquiring

Company

Deal

Type

Closing

Value

Closing

Price

Last

Price

VolumeClosing

Date

ProfitAnnu.

Profit

+ODP02/04/2015Staples, Inc. (SPLS)Cash Plus Stock$6.3 billion$9.96$6.968,089,32312/31/201543.09%167.30%
+VSLR07/20/2015SunEdison, Inc. (SUNE)Special Conditions$2.2 billion$16.50$11.73126,82712/31/201540.66%157.90%
+WPZ05/13/2015Williams Companies, Inc. (WMB)All Stock$13.8 billion$46.38$35.741,243,76009/30/201529.78%5435.17%
+NKA06/14/2015Brookfield Infrastructure (N/A)All Cash$911.9 million$4.23$3.2626,10612/31/201629.75%23.61%
+CI07/24/2015Anthem, Inc. (ANTM)Cash Plus Stock$54.2 billion$176.53$137.481,844,48112/31/201628.41%22.54%
+TLR09/15/2015Waterton Precious Metals Fund II Cayman, LP (N/A)All CashN/A$0.58$0.4754,56112/31/201522.11%85.83%
+HUM07/03/2015Aetna Inc. (AET)Cash Plus Stock$37 billion$218.82$181.151,303,63712/31/201620.79%16.50%
+HE12/03/2014NextEra Energy, Inc. (NEE)Special Conditions$4.3 billion$33.50$28.25287,37812/31/201518.58%72.16%
+YDLE08/10/2015Envestnet, Inc. (ENV)Special Conditions$590 million$18.88$16.17422,57903/31/201616.76%33.07%
+POM04/30/2014Exelon Corporation (EXC)All Cash$7.2 billion$27.25$23.702,574,24509/30/201514.98%2733.65%
+BHI11/16/2014Halliburton Company (HAL)Cash Plus StockN/A$60.10$52.502,626,39012/31/201514.48%56.24%
+OVTI04/30/2015Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd. (N/A)All Cash$1.9 billion$29.75$26.12412,52304/30/201613.90%23.59%
+FSYS09/01/2015Westport Innovations Inc. (WPRT)All Stock$126.36 million$5.75$5.06119,44812/31/201513.60%52.82%
+ATML09/20/2015Dialog Semiconductor Plc (DLGNF)Cash Plus Stock$4.4 billion$9.09$8.026,543,76003/31/201613.35%26.34%
+MDP09/08/2015Media General, Inc. (MEG)Special Conditions$3.1 billion$51.53$46.01255,95406/30/201612.00%15.87%
+EROC05/21/2015Vanguard Natural Resources, LLC (VNR)All Stock$614 million$1.59$1.43419,34609/30/201510.87%1983.89%
+PLNR08/12/2015Leyard Optoelectronic Co., Ltd. (N/A)All Cash$156.8 million$6.58$5.95219,97012/31/201510.59%41.11%
+NPBC08/17/2015BB&T Corporation (BBT)Special Conditions$1.8 billion$13.00$11.81982,29706/30/201610.08%13.33%
+GOMO06/08/2015Sunflower Parent Limited (N/A)All CashN/A$4.90$4.4940,21012/31/20159.13%35.46%
+VIMC09/15/2015Vimicro China (N/A)All CashN/A$13.50$12.40467,60112/31/20158.87%34.45%
+TWC05/26/2015Charter Communications, Inc. (CHTR)Cash Plus Stock$78.7 billion$199.27$183.791,288,35112/31/20158.42%32.71%
+GAS08/24/2015Southern Company (SO)All Cash$12 billion$66.00$60.88845,91912/31/20168.41%6.67%
+ALTR06/01/2015Intel Corporation (INTC)All Cash$16.7 billion$54.00$50.271,920,38503/31/20167.42%14.64%
+GAME04/03/2015Capitalhold Limited and Capitalcorp Limited (N/A)All Cash$1.9 billion$7.10$6.62414,28612/31/20157.25%28.15%
+ISSI06/11/2015Uphill Investment Co (N/A)All CashN/A$23.00$21.45538,34909/30/20157.23%1318.76%
+LRE04/20/2015Vanguard Natural Resources, LLC (VNR)All Stock$539 million$4.71$4.4059,65409/30/20157.13%1300.31%
+CVC09/17/2015Altice (N/A)All Cash$17.7 billion$34.90$33.107,583,04306/30/20165.44%7.19%
+RNF08/10/2015CVR Partners, LP (UAN)Cash Plus Stock$840 million$13.04$12.4230,86604/30/20165.01%8.51%
+CMLP05/06/2015Crestwood Equity Partners LP (CEQP)All Stock$7.5 billion$6.90$6.60778,93109/30/20154.58%836.46%
+HCBK08/27/2012M&T Bank Corporation (MTB)All Stock$3.7 billion$10.19$9.744,998,60510/31/20154.57%50.56%
+BRCM05/28/2015Avago Technologies Limited (AVGO)Special Conditions$37 billion$54.50$52.134,654,39403/31/20164.55%8.97%
+CNL10/20/2014Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC) (N/A)All Cash$4.7 billion$55.37$53.09442,62512/31/20154.29%16.68%
+MSO06/22/2015Sequential Brands Group, Inc. (SQBG)Special Conditions$353 million$6.15$5.91171,59312/31/20154.06%15.77%
+TE09/05/2015Emera (N/A)All Cash$10.4 billion$27.55$26.491,831,33606/30/20164.00%5.29%
+CAM08/26/2015Schlumberger Limited (SLB)Cash Plus Stock$14.8 billion$66.64$64.082,414,54403/31/20163.99%7.87%
+ALTV09/03/2015Momentum Telecom, Inc. (N/A)All Cash$28.7 million$4.70$4.5210,35712/31/20153.98%15.46%
+METR08/04/2015F.N.B. Corporation (FNB)All Stock$474 million$30.54$29.4157,50403/31/20163.84%7.58%
+SYA08/11/2015Sumitomo Life Insurance Company (N/A)All Cash$3.8 billion$32.50$31.461,077,85805/15/20163.31%5.25%
+PGI09/10/2015Siris Capital Group, LLC (N/A)All Cash$1 billion$14.00$13.571,015,05412/31/20153.17%12.30%
+ALU04/15/2015Nokia Corporation (NOK)All Stock$16.6 billion$3.61$3.513,591,12806/30/20162.95%3.90%
+BEE09/08/2015Blackstone Real Estate Partners VIII L.P. (N/A)All Cash$6 billion$14.25$13.874,212,51703/31/20162.74%5.41%
+HNT07/02/2015Centene Corp. (CNC)Cash Plus Stock$6.8 billion$64.71$62.98694,05103/31/20162.74%5.41%
+LMNS06/18/2015XIO Group (N/A)All Cash$510 million$14.00$13.64478,20809/30/20152.64%481.67%
+PCP08/10/2015Berkshire Hathaway Inc. (BRK-A)All Cash$37.2 billion$235.00$229.03712,67003/31/20162.61%5.14%
+CB07/01/2015ACE Limited (ACE)Cash Plus Stock$28.3 billion$125.19$122.261,134,08603/31/20162.40%4.73%
+STNR08/21/2015affiliate of Catterton (N/A)All Cash$834 million$65.00$63.57110,91403/31/20162.25%4.44%
+NTLS08/10/2015Shenandoah Telecommunications Co. (SHEN)All Cash$640 million$9.25$9.06325,39203/31/20162.10%4.14%
+CYT07/29/2015Solvay (N/A)All Cash$6.4 billion$75.25$73.741,163,73812/31/20152.05%7.95%
+AVOL09/03/2015Bohai Leasing Co., Ltd. (N/A)All Cash$7.6 billion$31.00$30.40284,09103/31/20161.97%3.89%
+PRE08/03/2015EXOR S.p.A. (N/A)All Cash$6.9 billion$140.50$137.82513,64003/31/20161.94%3.84%
+BAMM07/13/2015Anderson Family (N/A)All Cash$21 million$3.25$3.191,24712/31/20151.88%7.30%
+ASBI06/29/2015First Merchants Corporation (FRME)All Stock$68.8 million$23.52$23.1010,03012/31/20151.83%7.12%
+OMG06/01/2015Apollo Global Management, LLC (APO)All CashN/A$34.00$33.43544,95812/31/20151.71%6.62%
+ONFC02/24/2015Community Bank System Inc. (CBU)All Stock$142 million$20.82$20.4910,17810/31/20151.59%17.58%
+TRAK06/15/2015Cox Automotive, Inc. (N/A)All Cash$4 billion$63.25$62.343,323,48609/30/20151.46%266.40%
+IPCM08/04/2015Team Health Holdings, Inc. (TMH)All Cash$1.6 billion$80.25$79.20105,37612/31/20151.33%5.15%
+NVSL06/04/2015Liberty Bank (N/A)All Cash$78 million$11.00$10.8611,59512/31/20151.29%5.01%
+SLH09/13/2015an affiliate of Vista Equity Partners (N/A)All Cash$6.5 billion$55.85$55.291,403,92703/31/20161.01%2.00%
+CNW09/09/2015XPO Logistics, Inc. (XPO)All Cash$3 billion$47.60$47.133,586,50010/31/20151.00%11.03%
+HME06/22/2015an affiliate of Lone Star Funds (N/A)All Cash$7.6 billion$75.23$74.50991,48412/31/20150.98%3.80%
+FSL03/02/2015NXP Semiconductors NV (NXPI)Cash Plus Stock$16.7 billion$36.78$36.451,099,68612/31/20150.91%3.52%
+SFG07/23/2015Meiji Yasuda Life Insurance Company (N/A)All Cash$5 billion$115.00$114.01287,25003/31/20160.87%1.71%
+CYN01/22/2015Royal Bank of Canada (RY)Cash Plus Stock$5.4 billion$87.71$87.02168,13512/31/20150.79%3.06%
+ENVI09/10/2015Ericsson (N/A)All Cash$125 million$4.10$4.07113,16812/31/20150.74%2.86%
+REMY07/13/2015BorgWarner Inc. (BWA)All Cash$1.2 billion$29.50$29.29336,22212/31/20150.72%2.78%
+THOR07/22/2015St. Jude Medical Inc. (STJ)All Cash$3.4 billion$63.50$63.10694,47612/31/20150.63%2.46%
+MM09/03/2015AOL (N/A)All Cash$238 million$1.75$1.741,801,25910/31/20150.57%6.36%
+HCC06/10/2015Tokio Marine Holdings, Inc. (N/A)All Cash$7.5 billion$78.00$77.571,304,34512/31/20150.55%2.15%
+BTH08/31/2015The Carlyle Group LP (CG)All Cash$98 million$6.00$5.9722,18312/31/20150.50%1.95%
+XOOM07/01/2015PayPal, Inc. (N/A)All Cash$890 million$25.00$24.89247,65712/31/20150.44%1.72%
+SIBC12/30/2014First NBC Bank Holding Company (FNBC)All Cash$49 million$21.25$21.163212/31/20150.43%1.65%
+MRGE08/06/2015International Business Machines Corporation (IBM)All Cash$1 billion$7.13$7.10781,33912/31/20150.42%1.64%
+HILL08/18/2015Seagate Technology Public Limited Company (STX)All Cash$694 million$9.75$9.711,463,46212/31/20150.41%1.60%
+ADEP09/16/2015OMRON Corporation (N/A)All Cash$200 million$13.00$12.95131,46710/23/20150.39%5.64%
+IKAN08/05/2015Qualcomm Atheros, Inc. (N/A)All Cash$47 million$2.75$2.742,05112/31/20150.36%1.42%
+SIAL09/22/2014Merck KGaA (N/A)All Cash$17 billion$140.00$139.511,245,67409/30/20150.35%64.10%
+ZU08/17/2015Liberty Interactive Corporation (QVCA)Cash Plus Stock$2.4 billion$17.66$17.602,173,56412/31/20150.32%1.23%
+SQBK03/02/2015PacWest Bancorp (PACW)All Stock$849 million$25.94$25.88248,66012/31/20150.24%0.95%
+KYTH06/17/2015Allergan plc (AGN)All Cash$2.1 billion$75.00$74.931,332,92803/31/20160.09%0.18%
+RYL06/14/2015Standard Pacific Corp. (SPF)All Stock$3.36 billion$43.52$43.57822,59210/15/2015-0.12%-2.60%
+WMGI10/27/2014Tornier N.V. (TRNX)All Stock$1.72 billion$23.90$24.001,271,26209/30/2015-0.43%-78.88%
+SVLC07/27/2015First Majestic Silver Corp. (AG)Cash Plus Stock$118 million$0.89$0.90130,32109/30/2015-0.61%-111.79%
+MWE07/13/2015MPLX LP (MPLX)Cash Plus Stock$20 billion$47.62$48.002,247,15312/31/2015-0.78%-3.04%
+SURG09/02/2015Valeant Pharmaceuticals International, Inc. (VRX)All Cash$166 million$6.50$6.57166,84112/31/2015-1.07%-4.14%
+GPT07/01/2015Chambers Street Properties (CSG)All Stock$2.5 billion$21.56$21.83455,03212/31/2015-1.22%-4.75%
+PSEM09/03/2015Diodes Incorporated (DIOD)All Cash$400 million$17.00$17.28271,65012/31/2015-1.62%-6.29%
+SIRO09/15/2015DENTSPLY International Inc. (XRAY)All Stock$5.51 billion$94.19$97.93571,15103/31/2016-3.82%-7.53%
+TW06/30/2015Willis Group Holdings Public Limited Company (WSH)Cash Plus Stock$8.7 billion$113.93$119.90490,51412/31/2015-4.98%-19.34%
+FSGI03/25/2015Atlantic Capital Bancshares, Inc. (N/A)All Cash$160 million$2.35$2.5145,81010/31/2015-6.37%-70.51%
+CACQ12/22/2014Caesars Entertainment Corporation (CZR)All StockN/A$4.76$6.77119,80503/31/2015-29.68%59.85%
+ALLB03/03/2015WSFS Financial Corp. (WSFS)All Stock$92 million$8.18$23.863,93010/09/2015-65.73%-2181.03%

Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter@asifsuria