Merger Arbitrage Mondays – June 6, 2016
Merger activity increased significantly last week with twelve new deals announced and three deals closing. Out of the twelve new deals announced, seven of them were worth over $1 billion and all of the deals together were worth nearly $30 billion.
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 Westar Energy (WR) by Great Plains Energy Incorporated (GXP) for $12.2 billion in a cash plus stock deal. Under the terms of the agreement, Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock, subject to a 7.5 percent collar based upon the Great Plains Energy common stock price at the time of the closing of the transaction, with the exchange ratio for the stock consideration ranging between 0.2709 to 0.3148 shares of Great Plains Energy common stock for each Westar share of common stock, representing a consideration mix of 85 percent cash and 15 percent stock.
- The acquisition of SciQuest (SQI) by affiliates of Accel-KKR for $509 million or $17.75 per share in cash.
- The acquisition of Celator Pharmaceuticals (CPXX) by Jazz Pharmaceuticals Public Limited Company (JAZZ) for approximately $1.5 billion or $30.25 per share in cash.
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