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Merger Arbitrage Mondays – March 14, 2016

  • March 13, 2016

Merger activity decreased last week with two new deals announced. None of the pending deals closed last week.

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:

  1. The acquisition of 1st Century Bancshares (FCTY) by Midland Financial for $11.22 per share in cash.
  2. The acquisition of Laporte Bancorp (LPSB) by Horizon Bancorp (HBNC) for $94.1 million in a cash or stock deal. Under the terms of the agreement, shareholders of Laporte Bancorp will have the option to receive $17.50 per share in cash or 0.629 shares of Horizon common stock, or a combination of both, for each share of LaPorte Bancorp’s common stock. LaPorte Bancorp shareholders will receive total consideration that consists of 65% stock and 35% cash. We are going to treat this as an all-stock deal in our Merger Arbitrage tool.

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