Merger Arbitrage Mondays – December 19, 2016
Merger Activity decreased last week with two 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 NeuStar (NSR) by a private investment group led by Golden Gate Capital for $2.9 billion or $33.50 per share in cash.
- The acquisition of Southwest Bancorp (OKSB) by Simmons First National Corporation (SFNC) for $564.4 million in a cash plus stock deal. Under the terms of the Agreement, each outstanding share of common stock and equivalents of SBI will be converted into the right to receive 0.3903 shares of the Company’s common stock and $5.11 in cash.
Deal Updates:
- On December 13, 2016, InterOil Corporation (IOC) provided an update on the transaction with Exxon Mobil Corporation (XOM). Following the previously announced decision by the Court of Appeal of Yukon to allow an appeal lodged by Phil Mulacek, InterOil’s Independent Transaction Committee, consisting of four independent and experienced directors of InterOil, are undertaking a detailed and thorough review process relating to the proposed transaction, with the support of independent legal counsel and BMO Capital Markets, an independent financial advisor. To accommodate the new review process, ExxonMobil and InterOil have agreed to extend the outside date of the current Arrangement Agreement to the close of business on Wednesday, December 21, 2016.
- On December 13, 2016, The U.S. Justice Department sought to knock down arguments by Aetna (AET)’s chief executive that Medicare Advantage competes with government insurance programs, making Aetna’s proposed merger with Humana (HUM) legal under antitrust law.
- On December 15, 2016, Eldorado Resorts (ERI) announced that it received approval from the West Virginia Lottery Commission for its pending acquisition of Isle of Capri Casinos (ISLE).
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