Merger Arbitrage Mondays – May 2, 2016
Merger activity increased last week with eight new deals announced and two 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 First Clover Leaf Financial (FCLF) by First Mid-Illinois Bancshares (FMBH) for $90 million in a cash or stock deal. Under the terms of the agreement, shareholders of First Clover Leaf’s stockholders may elect to exchange each share of First Clover Leaf common stock for either $12.87 in cash or .495 of a share of First Mid common stock, subject to certain potential adjustments. Overall elections are subject to proration such that 25 percent of the First Clover Leaf shares will be exchanged for cash and 75 percent for First Mid stock. We are treating this as an all stock deal.
- The acquisition of ExamWorks Group (EXAM) by an affiliate of Leonard Green & Partners for $2.2 billion or $35.05 per share in cash.
- The acquisition of St. Jude Medical (STJ) by Abbott Laboratories (ABT) for $25 billion in a cash plus stock deal. Under the terms of the agreement, St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock.
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