Merger Arbitrage Mondays – December 26, 2016
Merger Activity increased last week with three 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 Lionbridge Technologies (LIOX) by an affiliate of H.I.G.Capital for $360 million or $5.75 per share in cash.
- The acquisition of Eastern Virginia Bankshares (EVBS) by Southern National Bancorp of Virginia (SONA) for $178.3 million in an all stock deal. Under the terms of the agreement, Eastern Virginia common and preferred shareholders will receive a fixed exchange ratio equal to 0.6313 shares of Southern National common stock for each share of Eastern Virginia common stock or preferred stock owned.
- The acquisition of Heritage Oaks Bancorp (HEOP) by Pacific Premier Bancorp (PPBI) for $405.6 million in an all stock deal. Under the terms of the definitive agreement, upon consummation of the transaction, holders of Heritage Oaks common stock will have the right to receive 0.3471 shares of Pacific Premier common stock for each share of Heritage Oaks common stock they own.
We missed adding the LIOX, EVBS, HEOP and KZ deals the week they were announced but our readers were kind enough to let us know about them and so we are including them in this week’s update.
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