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Merger Arbitrage Mondays – March 7, 2016

  • March 6, 2016

There was no change in merger activity last week with five new deals announced and ten 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 201640
Total Number of Deals Not Completed in 20161
Total Number of Pending Deals
Cash Deals46
Stock Deals15
Stock & Cash Deals20
Special Conditions11
Total Number of Pending Deals92
Total Deal Size$908.83 billion

New Deals:

  1. The acquisition of API Technologies (ATNY) by an affiliate of private equity firm J. F. Lehman & Company for $110 million or $2.00 per share in cash.
  2. The acquisition of Checkpoint Systems (CKP) by an affiliate of CCL Industries for $443 million or $10.15 per share in cash.
  3. The acquisition of JAVELIN Mortgage Investment (JMI) by ARMOUR Residential REIT (ARR) for $84.7 million or $7.14 per share in cash. The actual value of the deal will be 0.87 times book value 10 days before the tender offer minus $1 million for transaction costs. The $7.14 value in the release is just an estimate based on current book value.
  4. The acquisition of Tumi Holdings (TUMI) by Samsonite International for $1.8 billion or $26.75 per share in cash.
  5. The acquisition of Carmike Cinemas (CKEC) by AMC Entertainment Holdings (AMC) for $1.1 billion or $30.00 per share in cash.

Deal Updates:

  1. On March 4, 2016, ON Semiconductor Corporation (ON) announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International (FCS) to March 17, 2016.

Closed Deals:

  1. The acquisition of Sirona Dental Systems (SIRO) by DENTSPLY International (XRAY) on February 29, 2016. It took 167 days for this deal to be completed.
  2. The acquisition of Diamond Foods (DMND) by Snyder’s-Lance (LNCE) on February 29, 2016. It took 124 days for this deal to be completed.
  3. The acquisition of Furmanite Corporation (FRM) by Team (TISI) on March 1, 2016. It took 138 days for this deal to be completed.
  4. The acquisition of NewBridge Bancorp (NBBC) by Yadkin Financial Corporation (YDKN) on March 1, 2016. It took 140 days for this deal to be completed.
  5. The acquisition of River Valley Bancorp (RIVR) by German American Bancorp (GABC) on March 1, 2016. It took 127 days for this deal to be completed.
  6. The acquisition of American Residential Properties (ARPI) by American Homes 4 Rent (AMH) on March 1, 2016. It took 89 days for this deal to be completed.
  7. The acquisition of Campus Crest Communities (CCG) by affiliates of Harrison Street Real Estate Capital on March 2, 2016. It took 138 days for this deal to be completed.
  8. The acquisition of Keurig Green Mountain (GMCR) by JAB Holding Company on March 3, 2016. It took 87 days for this deal to be completed.
  9. The acquisition of Solera Holdings (SLH) by an affiliate of Vista Equity Partners on March 3, 2016. It took 172 days for this deal to be completed.
  10. The acquisition of Mindray Medical International Limited (MR) by Excelsior Union Limited and Solid Union Limited on March 3, 2016. It took 120 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

VSLR07/20/2015SunEdison, Inc. (SUNE)$15.25$4.9403/31/2016208.70%3174.05%
WMB09/28/2015Energy Transfer Equity, L.P. (ETE)$43.50$19.1506/30/2016127.15%403.58%
ODP02/04/2015Staples, Inc. (SPLS)$9.35$5.2605/16/201677.77%405.49%
BHI11/16/2014Halliburton Company (HAL)$58.07$46.2004/30/201625.68%173.60%
CI07/24/2015Anthem, Inc. (ANTM)$171.59$138.9412/31/201623.50%28.68%
CNL10/20/2014Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC) (N/A)$55.37$45.7203/31/201621.11%321.00%
NKA06/14/2015Brookfield Infrastructure (N/A)$4.23$3.5112/31/201620.51%25.04%
HUM07/03/2015Aetna Inc. (AET)$215.50$183.2512/31/201617.60%21.48%
AGN11/23/2015Pfizer Inc. (PFE)$335.72$287.8912/31/201616.62%20.28%
HTCH11/02/2015TDK Corporation (N/A)$4.00$3.4403/31/201616.28%247.58%

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

VSLR07/20/2015SunEdison, Inc. (SUNE)Special Conditions$2.2 billion$15.25$4.941,835,44903/31/2016208.70%3174.05%
Details of Vivint Solar, Inc.

Expected to close in the fourth quarter for a closing value of $2.2 billion in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. Under the merger agreement, Vivint Solar stockholders will receive $16.50 per share, consisting of $9.89 per share in cash, $3.31 per share in SunEdison stock, and $3.30 per share in SunEdison convertible notes.

The number of SunEdison shares to be received by Vivint Solar stockholders in the merger will be determined based upon the volume weighted average price per share of SunEdison common stock for the 30 consecutive trading days ending on (and including) the third trading day immediately prior to completion of the merger (the “Measurement Price”), subject to a collar. As a result of the collar, Vivint Solar stockholders will receive no more than 0.120 shares of SunEdison common stock and no less than 0.098 shares for each of their Vivint Solar shares. As part of the merger consideration, Vivint stockholders also will receive five-year notes convertible into SunEdison shares, which will be issued by SunEdison pursuant to an Indenture between SunEdison and a trustee. The convertible notes will be issuable only in registered form without coupons and will be direct, unsecured, senior obligations of SunEdison. The conversion price for these convertible notes will be 140 percent of the Measurement Price (but the Measurement Price may not exceed $33.62 or be lower than $27.51). The convertible notes will bear interest at a rate of 2.25% per year, payable semiannually in arrears in cash.

Update(s)

December 9, 2015: Vivint Solar (VSLR) announced an amendment to it’s previously announced merger with SunEdison (SUNE). According to the amendment, the cash portion of the deal will be reduced by $2 and the stock portion will be increased by $0.75. The total deal value will be $4.06 in stock, $3.30 in convertible notes and $7.89 in cash for a total value of $15.25. The closing of the merger is expected to occur in the first quarter of 2015.

WMB09/28/2015Energy Transfer Equity, L.P. (ETE)Special Conditions$37.7 billion$43.50$19.1516,712,02106/30/2016127.15%403.58%
Details of Williams Companies, Inc.

Expected to close in the first half of 2016 for a closing value of $37.7 billion. Under the terms of the transaction, Energy Transfer Corp LP (ETC), an affiliate of ETE, will acquire Williams at an implied current price of $43.50 per Williams share. Williams’ stockholders will have the right to elect to receive as merger consideration either ETC common shares, which would be publicly traded on the NYSE under the symbol ETC, and / or cash. Elections to receive ETC common shares and cash will be subject to proration. Williams stockholders electing to receive stock consideration will receive a fixed exchange ratio of 1.8716 ETC common shares for each share of WMB common stock, before giving effect to proration. If all Williams’ stockholders elect to receive all cash or all stock, then each share of Williams common stock would receive $8.00 in cash and 1.5274 ETC common shares. In addition, WMB stockholders will be entitled to a special one-time dividend of $0.10 per WMB share to be paid immediately prior to the closing of the transaction. The special one-time dividend is in addition to the regularly scheduled WMB dividends to be paid before closing.

Update(s)

December 14, 2015: Energy Transfer Equity (ETE) and Williams Companies (WMB) announced that they have entered into a Timing Agreement with the Federal Trade Commission. Under the terms of the Timing Agreement, ETE and WMB have agreed (1) not to consummate the proposed acquisition prior to 60 days after substantial compliance with the Second Requests, and (2) not to consummate the proposed acquisition before March 18, 2016. ETE and WMB continue to work cooperatively with the staff of the FTC as it conducts its review of the proposed acquisition.

ODP02/04/2015Staples, Inc. (SPLS)Cash Plus Stock$6.3 billion$9.35$5.265,910,57005/16/201677.77%405.49%
Details of Office Depot, Inc.

Expected to close by the end of the calendar year 2015 for a closing value of $6.3 billion in a cash plus stock deal. Under the terms of the agreement, Office Depot shareholders will receive, for each Office Depot share, $7.25 in cash and 0.2188 of a share in Staples stock at closing.

Update(s)

May 27, 2015: The American Postal Workers Union filed a formal report asking federal anti-trust regulators to strike down Staples’ (SPLS) $6.3 billion deal to purchase Office Depot (ODP).

January 20, 2016: Staples (SPLS) and Office Depot (ODP) announced that the Board of Directors of both companies intend to waive the merger agreement termination date of February 4, 2016, and extend it to May 16, 2016.

BHI11/16/2014Halliburton Company (HAL)Cash Plus StockN/A$58.07$46.203,414,52804/30/201625.68%173.60%
Details of Baker Hughes Incorporated

Expected to close in the second half of 2015 in a cash plus stock deal. Under the terms of the agreement, shareholders of Baker Hughes will receive 1.12 Haliburton shares plus $19.00 in cash for each share they own.

Update(s)

December 15, 2015: Baker Hughes (BHI) and Halliburton (HAL) extended the deadline for their merger to April 30, 2016.

CI07/24/2015Anthem, Inc. (ANTM)Cash Plus Stock$54.2 billion$171.59$138.941,247,19512/31/201623.50%28.68%
Details of Cigna Corp.

Expected to close in the second half of 2016 for a closing value of $54.2 billion in a cash plus stock deal. Under the terms of the agreement, Cigna shareholders will receive $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share.

CNL10/20/2014Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC) (N/A)All Cash$4.7 billion$55.37$45.72910,64703/31/201621.11%321.00%
Details of Cleco Corporation

Expected to close in the second half of 2015 for a closing value of $4.7 billion. Upon completion of the merger, shareholders of Cleco Corporation will receive $55.37 per share in cash.

Update(s)

October 2, 2015: Cleco and the investor group expect the transaction to close in the first quarter of 2016

NKA06/14/2015Brookfield Infrastructure (N/A)All Cash$911.9 million$4.23$3.5199,38212/31/201620.51%25.04%
Details of Niska Gas Storage Partners LLC

Expected to close in the second half of 2016 for a closing value of $911.9 million. Upon completion of the merger, shareholders of Niska Gas Storage Partners will receive $4.225 per share in cash.

HUM07/03/2015Aetna Inc. (AET)Cash Plus Stock$37 billion$215.50$183.25969,90512/31/201617.60%21.48%
Details of Humana Inc.

Expected to close in the second half of 2016 for a closing value of $37 billion in a cash plus stock deal. Under the terms of the agreement, Humana stockholders will receive $125.00 in cash and 0.8375 Aetna common shares for each Humana share.

AGN11/23/2015Pfizer Inc. (PFE)All Stock$160 billion$335.72$287.892,551,96912/31/201616.62%20.28%
Details of Allergan plc

Expected to close in the second half of 2016 for a closing value of $160 billion in an all stock deal. Immediately prior to the merger, Allergan will effect an 11.3-for-one-share-split so that each Allergan shareholder will receive 11.3 shares of the combined company for each of their Allergan shares, and the Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares.

HTCH11/02/2015TDK Corporation (N/A)Special Conditions$126 million$4.00$3.44908,83403/31/201616.28%247.58%
Details of Hutchinson Technology Inc.

Expected to close in the first quarter of 2016 for a closing value of $126 million. Under the terms of the agreement, TDK will acquire all of the outstanding shares of common stock of HTI for base consideration of US$3.62 per share, plus additional consideration of up to US$0.38 per share, depending on the level of cash (subject to certain adjustments) less any outstanding borrowings on HTI’s revolving line of credit (“net cash”) held by HTI as of the last day of the fiscal month immediately preceding the closing date.

SNDK10/21/2015Western Digital Corporation (WDC)Special Conditions$19 billion$86.50$75.843,638,79109/30/201614.06%24.78%
Details of SanDisk Corp.

Expected to close in the third quarter of 2016 for a closing value of $19 billion in a cash plus stock deal. Under the terms of the agreement, if the previously announced investment in Western Digital by Unisplendour Corporation Limited closes prior to this acquisition, Western Digital will pay $85.10 per share in cash and 0.0176 shares of Western Digital common stock per share of SanDisk common stock; and if the Unisplendour transaction has not closed or has been terminated, $67.50 in cash and 0.2387 shares of Western Digital common stock per share of SanDisk common stock.

HOT11/16/2015Marriott International, Inc. (MAR)Special Conditions$12.2 billion$79.88$70.551,660,82306/30/201613.22%41.97%
Details of Starwood Hotels & Resorts Worldwide Inc.

Expected to close by mid-2016 for a closing value of $12.2 billion in a cash plus stock deal. Under the terms of the agreement, Starwood shareholders will receive 0.92 shares of Marriott International common stock and $2.00 in cash for each share of Starwood common stock. Starwood shareholders will separately receive consideration from the spin-off of the Starwood timeshare business and subsequent merger with Interval Leisure Group, which has an estimated value of approximately $1.3 billion to Starwood shareholders or approximately $7.80 per Starwood share, based on the 20-day VWAP of Interval Leisure Group stock ending November 13, 2015.  The timeshare transaction should close prior to the Marriott-Starwood merger closing.

Since we are treating this deal as a ‘special conditions’ deal, the actual value is likely to fluctuate and hence will be different from what we have entered in the database.


RAD10/27/2015Walgreens Boots Alliance, Inc. (WBA)All Cash$17.2 billion$9.00$8.0313,806,35212/31/201612.08%14.75%
Details of Rite Aid Corporation

Expected to close in the second half of 2016 for a closing value of $17.2 billion. Upon completion of the merger, shareholders of Rite Aid Corporation will receive $9.00 per share in cash.

APOL02/08/2016A consortium of investors including The Vistria Group, LLC, funds affiliated with Apollo Global Management, LLC and and Najafi Companies (N/A)All Cash$1.1 billion$9.50$8.511,136,44912/31/201611.63%14.20%
Details of Apollo Education Group, Inc.

Expected to close by Apollo Education Group’s fiscal year-end, in August, 2016 for a closing value of $1.1 billion. Upon completion of the merger, shareholders of Apollo Education Group will receive $9.50 per share in cash.

POM04/30/2014Exelon Corporation (EXC)All Cash$7.2 billion$27.25$24.426,697,15803/31/201611.59%176.25%
Details of Pepco Holdings, Inc.

Expected to close in the second or third quarter of 2015 for a closing value of $7.2 billion. Upon completion of the merger, shareholders of Pepco Holdings will receive $27.25 per share in cash.

Update(s)

October 22, 2015: The Board of Directors of Pepco Holdings (POM) declared a quarterly dividend of $0.27 per share on Pepco Holdings’ common stock that is payable on Dec. 31, 2015, to shareholders of record on Dec. 10, 2015, provided that the company’s proposed merger with Exelon Corporation does not close on or prior to the close of business on Dec. 10, 2015. The board of directors also declared a contingent pro-rata dividend to be paid in lieu of the regular quarterly dividend described above in the event that the merger closes before the close of business on Dec. 10, 2015.

December 22, 2015: The merger has been approved in Maryland, Delaware, New Jersey and Virginia and by federal regulators. The D.C. PSC has set a schedule which would allow for completing the proceeding by the first quarter of 2016.

NPBC08/17/2015BB&T Corporation (BBT)Special Conditions$1.8 billion$13.00$11.74686,95704/01/201610.73%156.70%
Details of National Penn Bancshares Inc.

Expected to close by mid 2016 for a closing value of $1.8 billion. Under the terms of the agreement, National Penn stockholders can elect to receive 0.3206 of a share of BB&T common stock or $13.00 in cash for each share of National Penn common stock, subject to proration such that total consideration will consist of approximately $550 million in cash and approximately 31.6 million BB&T common shares.

January 21, 2016: BB&T (BBT) announced that it expects to close on its purchase of National Penn Bancshares (NPBC) by April 1, 2016.

HE12/03/2014NextEra Energy, Inc. (NEE)Special Conditions$4.3 billion$33.50$30.64289,13706/30/20169.33%29.63%
Details of Hawaiian Electric Industries Inc.

Expected to close by the end of the year 2015 for a closing value of $4.3 billion. Upon completion of the merger, shareholders of Hawaiian Electric Industries will receive a $0.50 special dividend, 0.2413 shares of NextEra Energy common stock, and a share in ASB Hawaii valued at $8.00, per share held. In connection with the agreement, HEI plans to spin off ASB Hawaii to HEI shareholders and establish it as an independent publicly traded company, immediately prior to and contingent upon the completion of the combination of HEI with NextEra Energy.

Update (s)

December 4, 2015: The closure of the deal involving NextEra Energy Inc.’s proposed $4.3 billion acquisition of Hawaiian Electric Co., which was expected to be finalized by Dec. 3, has been extended by six months to June 2016.

VBIV10/26/2015SciVac Therapeutics Inc. (SVACF)All StockN/A$2.39$2.2049,29203/31/20168.77%133.39%
Details of VBI Vaccines Inc

Expected to close in an all stock deal. Under the terms of the agreement, each share of VBI common stock will be converted into the right to receive 20.808356 common shares of SciVac.

RNF08/10/2015CVR Partners, LP (UAN)Cash Plus Stock$840 million$10.33$9.5181,10204/30/20168.61%58.17%
Details of Rentech Nitrogen Partners, L.P.

Expected to close by April 30, 2016 for a closing value of $840 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Rentech Nitrogen Partners will receive 1.04 units of CVR Partners and $2.57 cash for each unit held.

AMTG02/26/2016Apollo Commercial Real Estate Finance, Inc. (ARI)Cash Plus Stock$641 million$14.18$13.16697,20308/15/20167.76%17.59%
Details of Apollo Residential Mortgage, Inc.

Expected to close in the second or third quarter of 2016 for a closing value of $641 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Apollo Residential Mortgage will receive approximately 0.417 ARI shares of common stock per AMTG share of common stock and approximately $7.53 per share in cash.

The cash portion of the consideration, and thus the total purchase price, is subject to adjustment based upon fluctuations in AMTG’s book value.

FGL11/09/2015Anbang Insurance Group Co., Ltd. (N/A)All CashN/A$26.80$25.10109,26106/30/20166.77%21.50%
Details of Fidelity & Guaranty Life Common

Expected to close in the second quarter of 2016. Upon completion of the merger, shareholders of Fidelity and Guaranty Life will receive $26.80 per share in cash.

IM02/17/2016Tianjin Tianhai Investment Company, Ltd. (N/A)All Cash$6 billion$38.90$36.531,778,26212/31/20166.49%7.92%
Details of Ingram Micro Inc.

Expected to close in the second half of 2016 for a closing value of $6 billion. Upon completion of the merger, sharheolders of Ingram Micro will receive $38.90 per share in cash.

BXLT01/11/2016Shire plc (SHPG)Cash Plus Stock$32 billion$41.77$39.475,096,69806/30/20165.83%18.49%
Details of Baxalta Incorporated

Expected to close by mid-2016 for a closing value of $32 billion in a cash plus stock deal. Under the terms of the agreement, Baxalta shareholders will receive $18.00 in cash and 0.1482 Shire ADS per Baxalta share.

ITC02/09/2016Fortis Inc. (FTS.TO)Cash Plus Stock$11.3 billion$44.70$42.391,600,36512/31/20165.45%6.65%
Details of ITC Holdings Corp.

Expected to close in late 2016 for a closing value of $11.3 billion in a cash plus stock deal. Under the terms of the agreement, ITC shareholders will receive US$22.57 in cash and 0.7520 Fortis shares per ITC share.

MY02/03/2016A consortium of investors (the �Buyer Consortium�), including Mr. Chuanwei Zhang , the Chairman and Chief Executive Officer of the Company (N/A)All Cash$408 million$2.51$2.39672,72106/30/20165.02%15.94%
Details of China Ming Yang Wind Power Group Limited

Expected to close in the first half of 2016 for a closing value of $408 million. Upon completion of the merger, shareholders of China Ming Yang Power Group Limited will receive $2.51 per share in cash.

MTSN12/01/2015Beijing E-Town Dragon Semiconductor Industry Investment Center (N/A)All Cash$300 million$3.80$3.62253,86603/31/20164.97%75.62%
Details of Mattson Technology Inc.

Expected to close in the first calendar quarter of 2016 for a closing value of $300 million. Upon completion of the merger, shareholders of Mattson Technology will receive $3.80 per share in cash.

AF10/29/2015New York Community Bancorp Inc. (NYCB)Cash Plus Stock$2 billion$16.54$15.76675,99312/31/20164.95%6.04%
Details of Astoria Financial Corporation

Expected to close in the fourth quarter of 2016 for a closing value of $2 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Astoria Financial Corporation will receive one share of New York Community common stock and $0.50 in cash in exchange for each share of Astoria stock held at the merger date.

CVC09/17/2015Altice (N/A)All Cash$17.7 billion$34.90$33.282,136,10406/30/20164.87%15.45%
Details of Cablevision Systems Corporation

Expected to close in the first half of 2016 for a closing value of $17.7 billion Upon completion of the merger, shareholders of Cablevision Systems will receive $34.90 in cash for each Cablevision Class A and Class B share.

MCOX12/22/2015Minat Associated Co. Ltd. (N/A)All CashN/A$4.00$3.844,47206/30/20164.17%13.22%
Details of Mecox Lane Limited

Expected to close in the second quarter of 2016 in a going private transaction. Upon completion of the merger, shareholders of Mecox Lane Limited will receive $4.00 per American Depositary Share of the company.

TYC01/25/2016Johnson Controls Inc. (JCI)All Stock$16.5 billion$37.78$36.303,036,59209/30/20164.08%7.19%
Details of Tyco International plc

Expected to close by the end of fiscal year 2016 for a closing value of $16.5 billion. 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.

ALR02/01/2016Abbott Laboratories (ABT)All Cash$5.8 billion$56.00$53.84759,77106/30/20164.01%12.73%
Details of Alere Inc.

Expected to close after the approval of Alere shareholders and the satisfaction of customary closing conditions for a closing value of $5.8 billion. Upon completion of the merger, shareholders of Alere will receive $56.00 per share in cash.

DATE12/07/2015FutureWorld Inc. (N/A)All CashN/A$7.56$7.27156,01403/31/20163.99%60.67%
Details of Jiayuan.com International Ltd.

Expected to close in the first quarter of 2016. Upon completion of the merger, shareholders of Jiayuan.com International will receive $7.56 per share in cash.

BNK11/09/2015Bank of the Ozarks, Inc. (OZRK)Special Conditions$402.5 million$25.00$24.20212,04804/30/20163.31%22.34%
Details of C1 Financial, Inc.

Expected to close late in the first quarter of 2016 or early in the second quarter of 2016 for a closing value of $402.5 million in an all-stock transaction valued at approximately $25.00 per C1 share. Under the terms of the agreement, each holder of outstanding shares of common stock of C1 will receive shares of common stock of OZRK. The number of OZRK shares to be issued will be determined based on OZRK’s ten day average closing stock price as of the second business day prior to the closing date, subject to a minimum and maximum price of $39.79 to $66.31, respectively. The consideration payable to C1 shareholders is subject to downward adjustment if the net book value of C1 at the time of the merger is below a specified level and is subject to an upward adjustment if certain loans of C1 are sold at a price above a specified amount.

BLT12/10/2015American Securities LLC and P2 Capital Partners, LLC (N/A)All Cash$855 million$10.00$9.70563,93506/30/20163.09%9.82%
Details of Blount International Inc.

Expected to close in the first half of 2016 for a closing value of $855 million. Upon completion of the merger, shareholders of Blount International will receive $10.00 per share in cash.

ADT02/16/2016An Affiliate of Certain Funds Managed By Affiliates of Apollo Global Management, LLC (N/A)All Cash$6.94 billion$42.00$40.851,883,21206/30/20162.82%8.94%
Details of The ADT Corporation

Expected to close by June, 2016 for a closing value of $6.94 billion. Upon completion of the merger, shareholders of The ADT Corporation will receive $42.00 per share in cash.

MNRK12/17/2015Towne Bank (TOWN)All Stock$221 million$16.04$15.6323,99506/30/20162.65%8.41%
Details of Monarch Financial Holdings, Inc.

Expected to close in the second quarter of 2016 for a closing value of $221 million in an all stock deal. Under the terms of the agreement, shareholders of Monarch Financial Holdings will receive 0.8830 shares of TowneBank common stock for each share of Monarch.

AVNU01/29/2016Pinnacle Financial Partners Inc. (PNFP)Cash Plus Stock$201.4 million$19.31$18.8299,64909/15/20162.60%4.94%
Details of Avenue Financial Holdings, Inc.

Expected to close late in the second quarter or early in the third quarter of 2016 for a closing value of $201.4 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Avenue Financial Holdings will receive 0.36 shares of Pinnacle’s common stock and $2.00 in cash for every Avenue share.

CKEC03/03/2016AMC Entertainment Holdings, Inc. (AMC)All Cash$1.1 billion$30.00$29.2510,089,29112/31/20162.56%3.13%
Details of Carmike Cinemas Inc.

Expected to close by the end of 2016 for a closing value of $1.1 billion. Upon completion of the merger, shareholders of Carmike Cinemas will receive $30.00 per share in cash.

DSKY12/31/2015Dream Investment Holdings Limited (N/A)All CashN/A$14.00$13.65164,16006/30/20162.56%8.14%
Details of iDreamSky Technology Limited

Expected to close in the second quarter of 2016 in a going private transaction. Under the terms of the agreement, a consortium of management and investors will through Parent acquire the Company for a cash consideration equal to US$3.50 per Class A and Class B ordinary share of the Company or US$14.00 per American depositary share of the Company, on the basis that each American depositary share represents four Class A ordinary shares.

EDE02/09/2016Algonquin Power & Utilities Corp. (AQN.TO)All Cash$2.4 billion$34.00$33.21360,55903/31/20172.38%2.23%
Details of The Empire District Electric Company

Expected to close in the first quarter of 2016 for a closing value of $2.4 billion. Upon completion of the merger, shareholders of The Empire District Electric Company will receive $34.00 per share in cash.

TWC05/26/2015Charter Communications, Inc. (CHTR)Cash Plus Stock$78.7 billion$199.95$195.331,775,06006/30/20162.36%7.50%
Details of Time Warner Cable Inc.

Expected to close by the end of 2015 for a closing value of $78.7 billion in a cash plus stock deal. Under the terms of the agreement, Charter will provide $100.00 in cash and shares of a new public parent company (“New Charter”) equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding.

In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband Corporation or Liberty Interactive Corporation, who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own.

HMIN12/07/2015BTG Hotels Group (N/A)All CashN/A$35.80$34.981,177,63506/30/20162.34%7.44%
Details of Homeinns Hotel Group

Expected to close in the first half of 2016. Upon completion of the merger, shareholders of Homeinns Hotel Group will receive $35.80 per share in cash.

FMER01/26/2016Huntington Bancshares Incorporated (HBAN)Cash Plus Stock$3.4 billion$21.63$21.191,633,53709/30/20162.09%3.68%
Details of FirstMerit Corporation

Expected to close in the third quarter of 2016 for a closing value of $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.

ATNY02/29/2016an affiliate of private equity firm J. F. Lehman & Company (N/A)All Cash$110 million$2.00$1.96218,09806/30/20162.04%6.48%
Details of API Technologies Corp.

Expected to close in the second quarter of 2016. Upon completion of the merger, shareholders of API Technologies will receive $2.00 per share in cash.

MEG01/27/2016Nexstar Broadcasting Group, Inc. (NXST)Special Conditions$4.6 billion$17.14$16.803,638,36912/15/20162.02%2.61%
Details of Media General, Inc.

Expected to close late in the third quarter or early in the fourth quarter of 2016 for a closing value of 4.6 billion in a cash plus stock deal. Under the terms of agreement, shareholders of Media General will receive $10.55 per share in cash and 0.1249 of a share of Nexstar Class A common stock for each Media General share. The agreement includes potential additional consideration in the form of a contingent value right (“CVR”) entitling Media General shareholders to net cash proceeds as received from the sale of Media General’s spectrum in the Federal Communication Commission’s upcoming Incentive Auction.

WIBC12/07/2015BBCN Bancorp, Inc. (BBCN)All Stock$1 billion$10.61$10.41265,17406/30/20161.96%6.23%
Details of Wilshire Bancorp Inc.

Expected to close by mid-2016 for a closing value of $1 billion in an all stock deal. Under the terms of the agreement, Wilshire shareholders will receive a fixed exchange ratio of 0.7034 of a share of BBCN common stock in exchange for each share of Wilshire common stock they own.

CBNJ01/05/2016OceanFirst Financial Corp. (OCFC)Cash Plus Stock$208.1 million$13.20$12.9548,11109/30/20161.95%3.43%
Details of Cape Bancorp, Inc.

Expected to close in the summer of 2016 for a closing value of $208.1 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Cape Bancorp will receive $2.25 in cash and 0.6375 shares of OceanFirst common stock for each share of Cape common stock.

GAS08/24/2015Southern Company (SO)All Cash$12 billion$66.00$64.80871,56612/31/20161.85%2.26%
Details of AGL Resources Inc.

Expected to close in the second half of 2016 for a closing value of $12 billion. Upon completion of the merger, shareholders of AGL Resources will receive $66.00 per share in cash.

RRM02/26/2016SES (N/A)All Cash$242 million$13.29$13.0634,70308/15/20161.76%3.99%
Details of RR Media Ltd.

Expected to close in the second or third quarter of 2016 for a closing value of $242 million. Upon completion of the merger, shareholders of RR Media will receive $13.291 per share in cash.

CACQ12/22/2014Caesars Entertainment Corporation (CZR)All StockN/A$5.84$5.7527,99303/31/20151.62%0.00%
Details of Caesars Acquisition Company

Expectes to close in the first quarter of 2015 in an all stock deal. Under the terms of the agreement, each outstanding share of Caesars Acquisition class A common stock will be exchanged for 0.664 share of Caesars Entertainment common stock.

HNT07/02/2015Centene Corp. (CNC)Cash Plus Stock$6.8 billion$64.79$63.761,181,01903/31/20161.62%24.63%
Details of Health Net, Inc.

Expected to close early in 2016 for a closing value of $6.8 billion in a cash plus stock deal. Under the terms of the agreement, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock.

LF02/05/2016VTech Holdings Limited (N/A)All Cash$72 million$1.00$0.985720,74006/30/20161.52%4.83%
Details of LeapFrog Enterprises Inc.

Expected to close for a closing value of $75.4 million. Upon completion of the merger, shareholders of LeapFrog will receive $1.00 per share in cash.

JAH12/14/2015Newell Rubbermaid Inc. (NWL)Cash Plus Stock$13 billion$56.32$55.503,927,33806/30/20161.49%4.72%
Details of Jarden Corp.

Expected to close in the second quarter of 2016 for a closing value of $13 billion in a cash plus stock deal. Under the terms of the agreement, Jarden shareholders will receive $21 in cash and 0.862 shares of Newell Rubbermaid stock at closing.

FNFG10/30/2015KeyCorp. (KEY)Cash Plus Stock$4.1 billion$10.15$10.011,609,01309/30/20161.44%2.54%
Details of First Niagara Financial Group Inc.

Expected to close in the third quarter of 2016 for a closing value of $4.1 billion in a cash plus stock deal. Under the terms of the agreement, First Niagara shareholders will receive 0.68 KeyCorp shares and $2.30 in cash for each First Niagara common share.

PNX09/29/2015Nassau Reinsurance Group Holdings L.P. (N/A)All Cash$217.2 million$37.50$36.9957,63101/31/20161.38%0.00%
Details of The Phoenix Companies Inc.

Expected to close in early 2016 for a closing value of $217.2 million. Upon completion of the merger, shareholders of The Phoenix Companies will receive $37.50 per share in cash.

KLAC10/21/2015Lam Research Corporation (LRCX)Cash Plus Stock$10.6 billion$69.17$68.312,451,59106/30/20161.25%3.97%
Details of KLA-Tencor Corporation

Expected to close by mid-calendar year 2016 for a closing value of $10.6 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of KLA-Tencor will be entitled to elect to receive for the shares of KLA-Tencor stock they hold the economic equivalent of $32.00 in cash and 0.5 of a share of Lam Research common stock, in all-cash, all-stock, or mixed consideration.

ARG11/17/2015Air Liquide (N/A)All Cash$13.4 billion$143.00$141.501,238,03403/31/20161.06%16.12%
Details of Airgas, Inc.

The closing of the transaction is subject to Airgas shareholders’ approval, receipt of necessary antitrust and other regulatory approvals and other customary conditions and provisions. Upon completion of the merger, shareholders of Airgas will receive $143 per share in cash.

RLD11/09/2015Rizvi Traverse Management, LLC (N/A)All Cash$551 million$11.00$10.89684,77603/31/20161.01%15.36%
Details of RealD Inc.

Expected to close in the fourth quarter of fiscal 2016 for a closing value of $551 million. Upon completion of the merger, shareholders of RealD will receive $11.00 per share in cash.

LSG02/08/2016Tahoe Resources Inc. (TAHO)All Stock$677 million$1.39$1.38752,11404/15/20160.88%8.26%
Details of Lake Shore Gold Corp.

Expected to close by early 2016 for a closing value of approximately $677 million in an all stock deal. Under the terms of the agreement, all of the Lake Shore Gold issued and outstanding common shares will be exchanged on the basis of 0.1467 of a Tahoe common share per each Lake Shore Gold common share.

PNY10/26/2015Duke Energy Corporation (DUK)All Cash$6.7 billion$60.00$59.48410,52212/31/20160.87%1.07%
Details of Piedmont Natural Gas Co. Inc.

Expected to close by the end of 2016 for a closing value of $6.7 billion. Upon completion of the merger, shareholders of Piedmont Natural Gas will receive $60.00 per share in cash.

JMI03/02/2016ARMOUR Residential REIT, Inc. (ARR)Special Conditions$84.7 million$7.14$7.08207,67406/30/20160.85%2.69%
Details of JAVELIN Mortgage Investment Corp.

Expected to close in the second quarter of 2016 for a closing value of $84.7 million. Upon completion of the merger, shareholders of JAVELIN Mortgage Investment will receive $7.14 per share in cash.

The actual value of the deal will be 0.87 times book value 10 days before the tender offer minus $1 million for transaction costs. The $7.14 value in the release is just an estimate based on current book value.

PULB12/03/2015First Busey Corporation (BUSE)All Stock$210.7 million$15.59$15.4634,46606/30/20160.82%2.60%
Details of Pulaski Financial Corporation

Expected to close in the first half of 2016 for a closing value of $210.7 million in an all stock deal. Under the terms of the agreement, shareholders of Pulaski Financial Corporation will receive 0.79 shares of Busey common stock for each share of Pulaski common stock.

NTI12/21/2015Western Refining, Inc. (WNR)Cash Plus StockN/A$23.20$23.02406,46706/30/20160.79%2.52%
Details of Northern Tier Energy LP

Expected to close in the first half of 2016 in a cash plus stock deal. Under the terms of the agreement, shareholders of Northern Tier Energy will receive $15.00 in cash and 0.2986 of a share of WNR common stock.

TUMI03/03/2016Samsonite International S.A. (N/A)All Cash$1.8 billion$26.75$26.5518,134,88206/30/20160.75%2.39%
Details of Tumi Holdings, Inc.

Expected to close in the second quarter of 2016 for a closing value of $1.8 billion. Upon completion of the merger, shareholders of Tumi Holdings will receive $26.75 per share in cash.

ANAD01/19/2016II-VI Incorporated (IIVI)All Cash$61 million$0.85$0.844774,73803/31/20160.71%10.81%
Details of Anadigics, Inc.

Expected to close in 45 to 60 days for a closing value of $61 million. Upon completion of the merger, shareholders of Anadigics will receive $0.66 per share in cash.

Update(s)

February 23, 2016: Anadigics (ANAD) announced that it had received a further revised set of proposed amendments and agreements from II – VI Incorporated (IIVI), increasing its per share offer price to $0.81.

February 24, 2016: Anadigics (ANAD) announced that it had received from the competing bidder referred to as “Party B” a further amendment to its February 20, 2016 acquisition proposal that increases Party B’s per-share offer price from $0.81 to $0.85.  The $0.85 per-share offer price set forth in the February 24, 2016 Party B Proposed Merger Agreement is $0.04 higher than the $0.81 per-share offer price set forth in the further revised set of proposed amendments and agreements received by the Company from II-VI Incorporated (IIVI) on February 23, 2016. As provided in the II-VI Merger Agreement, and explained in the Company’s February 22, 2016 and February 23, 2016 announcements, II-VI has two business days by which to deliver to the Company an acquisition proposal that it believes would cause the February 24, 2016 Party B Proposed Merger Agreement to no longer constitute a Superior Offer.

February 26, 2016: Anadigics (ANAD) announced that it had entered into an amended merger agreement with II-VI Incorporated (IIVI) at a per share offer price of $0.85.

POWR02/24/2016Southern Company (SO)All Cash$431 million$18.75$18.63874,15106/30/20160.64%2.04%
Details of PowerSecure International, Inc.

Expected to close in the second quarter of 2016 for a closing value of $431 million. Upon completion of the merger, shareholders of PowerSecure International will receive $18.75 per share in cash.

YOKU11/06/2015Alibaba Group Holding Limited (BABA)All Cash$5.37 billion$27.60$27.441,037,71703/31/20160.58%8.87%
Details of Youku Tudou Inc.

Expected to close in the first quarter of 2016 for $5.37 billion. Upon completion of the merger, shareholders of Youku Tudou will receive US$27.60 per American Depositary Share.

NTLS08/10/2015Shenandoah Telecommunications Co. (SHEN)All Cash$640 million$9.25$9.20150,63203/31/20160.54%8.27%
Details of NTELOS Holdings Corp.

Expected to close in early 2016 for a closig value of $640 million. Upon completion of the merger, shareholders of NTELOS Holdings will receive $9.25 per share in cash.

CHEV11/24/2015MainSource Financial Group, Inc. (MSFG)All Stock$107.4 million$14.81$14.741,59209/30/20160.46%0.80%
Details of Cheviot Financial Corp.

Expected to close in the second or third quarter of 2016 for a closing value of $107.4 million in a cash or stock deal. Under the terms of the agreement, shareholders of Cheviot Financial may elect to receive either 0.6916 shares of MainSource common stock or $15.00 in cash for each share of Cheviot common stock owned, subject to proration provisions specified in the merger agreement that provide for a targeted aggregate split of 50% of Cheviot shares being exchanged for common stock and 50% for cash.

HPY12/15/2015Global Payments Inc. (GPN)Cash Plus Stock$4.3 billion$95.58$95.16269,31205/31/20160.44%1.90%
Details of Heartland Payment Systems, Inc.

Expected to close in the fourth quarter of Global Payment’s fiscal 2016 for a closing value of $4.3 billion in a cash plus stock deal. Under the terms of the agreement, Heartland shareholders will receive 0.6687 shares of Global Payments stock and $53.28 for each share of Heartland stock at closing.

BONA12/15/2015Mountain Tiger International Limited (N/A)All Cash$1 billion$13.70$13.64434,67206/30/20160.44%1.40%
Details of Bona Film Group Limited

Expected to close in the second quarter of 2016 for a closing value of $1 billion. Upon completion of the merger, shareholders of Bona Film Group Limited will receive $13.70 per share in cash.

ATML01/19/2016Microchip Technology Inc. (MCHP)Special Conditions$3.40 billion$8.15$8.1211,239,24106/30/20160.37%1.17%
Details of Atmel Corporation

Expected to close in the second quarter of 2016 for a closing value of $3.40 billion in a cash and stock deal. Under the terms of the agreement, stockholders of Atmel will receive $7.00 per share in cash and $1.15 per share in Microchip common stock, valued at the average closing price for a share of Microchip common stock for the ten most recent trading days ending on the last trading day prior to the closing, with the maximum number of Microchip shares to be issued in the transaction being 13.0 million. To the extent that the number of Microchip shares issuable would exceed 13.0 million, the cash consideration per Atmel share will be increased such that the value of the combined cash and stock consideration will remain at $8.15 per share.

CAM08/26/2015Schlumberger Limited (SLB)Cash Plus Stock$14.8 billion$68.02$67.792,545,55103/31/20160.34%5.12%
Details of Cameron International Corporation

Expected to close in the first quarter of 2016 for a closing value of $14.8 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Cameron International will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share.

LOJN02/01/2016CalAmp Corp. (CAMP)All Cash$134 million$6.45$6.43118,14105/31/20160.31%1.34%
Details of LoJack Corporation

Expected to close during CalAmp’s fiscal 2017 first quarter for a closing value of $134 million. Upon completion of the merger, shareholders of LoJack Corporation will receive $6.45 per share in cash.

BITI01/19/2016Acorda Therapeutics, Inc. (ACOR)All Cash$363 million$25.60$25.5458,48909/30/20160.23%0.41%
Details of Biotie Therapies Corp.

Expected to close in the third quarter of 2016 for a closing value of $363 million. Upon completion of the merger, shareholders of Biotie Therapies will receive $25.60 per share in cash.

STR02/01/2016Dominion Resources, Inc. (D)All Cash$4.4 billion$25.00$24.952,234,63212/15/20160.20%0.26%
Details of Questar Corporation

Expected to close by the end of 2016 for a closing value of $4.4 billion. Upon completion of the merger, shareholders of Questar Corporation will receive $25.00 per share in cash.

TE09/05/2015Emera (N/A)All Cash$10.4 billion$27.55$27.502,892,09006/30/20160.18%0.58%
Details of TECO Energy, Inc.

Expected to close by mid-2016 for a closing value of $10.4 billion. Upon completion of the merger, shareholders of TECO Energy will receive $27.55 per share in cash.

JMG10/07/2015Gannett Co., Inc. (GCI)All Cash$280 million$12.00$11.9868,10503/31/20160.17%2.54%
Details of Journal Media Group, Inc.

Expected to close in the first quarter of 2016 for a closing value of $280 million. Upon completion of the merger, shareholders of Journal Media Group will receive $12.00 per share in cash.

PRE08/03/2015EXOR S.p.A. (N/A)All Cash$6.9 billion$140.50$140.31465,31203/31/20160.14%2.06%
Details of PartnerRe Ltd.

Expected to close in the first quarter of 2016 for a closing value of $6.9 billion. Upon completion of the merger, shareholders of PartnerRe will receive $137.50 per share in cash. PartnerRe common shareholders will also receive a special pre-closing dividend of $3.00 per share in addition to ordinary quarterly dividends through closing.

AFFX01/26/2016Thermo Fisher Scientific, Inc. (TMO)All Cash$1.3 billion$14.00$13.99382,84506/30/20160.07%0.23%
Details of Affymetrix Inc.

Expected to close in the second quarter of 2016 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of Affymetrix will receive $14.00 per share in cash.

NEWP02/23/2016MKS Instruments, Inc. (MKSI)All Cash$980 million$23.00$22.99620,10106/30/20160.04%0.14%
Details of Newport Corp.

Expected to close in the second quarter of 2016 for a closing value of $980 million. Upon completion of the merger, shareholders of Newport will receive $23.00 per share in cash.

SFG07/23/2015Meiji Yasuda Life Insurance Company (N/A)All Cash$5 billion$115.00$114.98617,02903/31/20160.02%0.26%
Details of StanCorp Financial Group Inc.

Expected to close in the first quarter og 2015 for a closing value of $5 billion. Upon completion of the merger, shareholders of StanCorp Financial Group will receive $115.00 per share in cash.

IRC12/15/2015real estate funds managed by DRA Advisors LLC (N/A)All Cash$2.3 billion$10.60$10.60547,97306/30/20160.00%0.00%
Details of Inland Real Estate Corp.

Expected to close in the first half of 2016 for a closing value of $2.3 billion. Upon completion of the merger, shareholders of Inland Real Estate will receive $10.60 per share in cash.

RSE02/25/2016an affiliate of Brookfield Asset Management Inc. (N/A)All Cash$2.8 billion$18.25$18.251,252,67309/30/20160.00%0.00%
Details of Rouse Properties, Inc.

Expected to close in the third quarter of 2016 for a closing value of $2.8 billion. Upon completion of the merger, shareholders of Rouse Properties will receive $18.25 per share in cash.

HFFC11/30/2015Great Western Bancorp. Inc. (GWB)All Stock$139.5 million$17.08$17.1233,87406/30/2016-0.22%-0.70%
Details of HF Financial Corp.

Expected to close in the second quarter of 2016 for a closing value of $139.5 million in a cash plus stock deal. Under the terms of the agreement, HF Financial stockholders will have the option to elect to receive either 0.6500 shares of Great Western common stock or $19.50 in cash for each HF Financial common share, subject to proration to ensure that in the aggregate 75% of HF Financial shares will be converted into stock.

WCN01/19/2016Progressive Waste Solutions Ltd. (BIN)All StockN/A$63.16$63.40684,03206/30/2016-0.38%-1.22%
Details of Waste Connections Inc.

Expected to close in the second quarter of 2016. Under the terms of the definitive agreement, Waste Connections stockholders will receive 2.076843 Progressive Waste shares for each Waste Connections share they own. Subject to the approval of Progressive Waste’s shareholders, Progressive Waste then expects to implement immediately a share consolidation on the basis of 0.4815 (1 divided by the 2.076843 ratio above) of a share on a post-consolidation basis for each one share outstanding on a pre-consolidation basis.

FCS11/18/2015ON Semiconductor Corp. (ON)All Cash$2.4 billion$20.00$20.111,109,77803/17/2016-0.55%-19.97%
Details of Fairchild Semiconductor International Inc.

Expected to close on February 3, 2016 for a closing value of $2.4 billion. Upon completion of the merger, shareholders of Fairchild Semiconductor International will receive $20.00 per share in cash.

Update(s)

February 19, 2016: ON Semiconductor Corporation (ON) announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International (FCS) to March 3, 2016.

March 4, 2016: ON Semiconductor Corporation (ON) announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International (FCS) to March 17, 2016.

CKP03/02/2016an affiliate of CCL Industries Inc. (N/A)All Cash$443 million$10.15$10.251,534,40609/30/2016-0.98%-1.72%
Details of Checkpoint Systems Inc.

The transaction is subject to specified closing conditions. Expected to close for a closing value of $443 million. Upon completion of the merger, shareholders of Checkpoint Systems will receive $10.15 per share in cash.

COB11/23/2015Capital Bank Financial Corp. (CBF)All Stock$350 million$12.81$12.9715,66603/31/2016-1.20%-18.29%
Details of CommunityOne Bancorp

Expected to close in the first quarter of 2016 for a closing value of $350 million in cash or stock deal. Under the terms of the agreement, CommunityOne shareholders shall have the right to receive, at the election of each holder and subject to proration, $14.25 per share in cash or 0.43 of a share of Capital Bank Class A common stock, with the total consideration to consist of 85% stock and 15% cash.

FXCB12/08/2015Univest Corporation of Pennsylvania (UVSP)All Stock$244.3 million$19.21$19.478,64809/30/2016-1.34%-2.36%
Details of Fox Chase Bancorp, Inc.

Expected to close in the third quarter of 2016 for a closing value of $244.3 million in a cash or stock deal. Upon completion of the merger, Fox Chase shareholders will elect to receive either $21.00 in cash, or a fixed exchange ratio of 0.9731 shares of Univest, or a combination of the two, for outstanding shares of Fox Chase. The stock/cash election is subject to allocation provisions to assure that 40% of Fox Chase shares receive cash consideration and 60% of Fox Chase shares receive stock consideration.

ABCW01/12/2016Old National Bancorp. (ONB)All Stock461 million$42.64$43.41148,05006/30/2016-1.77%-5.62%
Details of Anchor BanCorp Wisconsin Inc.

Expected to close in the second quarter of 2016 for a closing value of $461 million in a cash or stock deal. Under the terms of the agreement, Anchor shareholders may elect to receive either 3.5505 shares of Old National common stock or $48.50 in cash for each share of Anchor they hold, subject to no more than 40% of the outstanding shares of Anchor may receive cash.

FSYS09/01/2015Westport Innovations Inc. (WPRT)All Stock$126.36 million$5.32$5.5138,24402/20/2016-3.40%77.63%
Details of Fuel Systems Solutions, Inc.

Expected to close in the fourth quarter of 2015 for a closing value of $126.36 million in an all stock deal. Under the terms of the agreement, shareholders of Fuel Systems Solutions will receive 2.129 Westport shares for each share of Fuel Systems common stock they own.

Disclaimer: Clients of Signal Partners, LLC  and I may have positions in any of these stocks at any time. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

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