Merger Arbitrage Mondays – October 17, 2016
Merger activity decreased last week with one new deal announced and one deal 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 Gas Natural (EGAS) by First Reserve Energy Infrastructure for $196 million or $13.10 per share in cash.
Deal Updates:
- On October 10, 2016, InterOil Corporation (IOC) announced that, after the close of business on October 7, 2016, the Supreme Court of Yukon approved the pending transaction with Exxon Mobil Corporation (XOM), including finding that the transaction is fair and reasonable. The decision of the Supreme Court of Yukon followed a contested hearing held on September 27, 2016.
- On October 12, 2016, Capital Bank Financial (CBF) and CommunityOne Bancorp (COB) finally received regulatory approval to merge. The companies announced that the deal received approval from the Federal Reserve, the FDIC and the North Carolina Office of the Commissioner of Banks to complete the previously announced merger. The deal is expected to close on or about Oct. 26.
- On October 14, 2016, Alaska Air Group (ALK) said that it was making “good progress” in talks with the Justice Department on a planned merger with Virgin America (VA). The Seattle-based company had said previously that it would not close its deal with Virgin before Oct. 17, and spokeswoman Bobbie Egan declined to spell out what would happen after that date.
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