Merger Arbitrage Mondays – February 1, 2016
Merger activity increased last week with five new deals announced and three 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 merger of Johnson Controls (JCI) and Tyco International (TYC). Immediately prior to the merger, Tyco will effect a reverse stock split so that Tyco shareholders will receive a fixed exchange ratio of 0.9550 shares for each of their existing Tyco shares. Johnson Controls shareholders may elect to receive either one share of the combined company for each of their Johnson Controls shares or cash equal to $34.88 per share. Elections by Johnson Controls shareholders are subject to proration such that an aggregate of approximately $3.9 billion cash is paid in the merger.
- The acquisition of Affymetrix (AFFX) by Thermo Fisher Scientific (TMO) for $1.3 billion or $14.00 per share in cash.
- The acquisition of FirstMerit Corporation (FMER) by Huntington Bancshares Incorporated (HBAN) for $3.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of FirstMerit Corporation will receive 1.72 shares of Huntington common stock, and $5.00 in cash, for each share of FirstMerit Corporation common stock.
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