Merger Arbitrage Mondays – December 5, 2016
Merger Activity decreased last week with two new deals announced and nine 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 CLARCOR (CLC) by Parker-Hannifin Corporation (PH) for $4.3 billion or $83.00 per share in cash.
- The acquisition of Vascular Solutions (VASC) by Teleflex Incorporated (TFX) for $1 billion or $56.00 per share in cash.
Deal Updates:
- November 29, 2016: On account of the 5 for 1 reverse stock split for (WGBS) that went into effect at 4:01 PM on November 28, 2016, we have adjusted our rough estimate for this deal to $4.75 from $0.95.
- On November 29, 2016, Trishield Capital Management announced that it had sent a letter to the Board of Directors of BBX Capital Corporation (BBX) explaining why the $20 per share cash consideration proposed to be paid in the pending merger between BBX Capital Corporation and BFC Financial Corporation (BFCF), its controlling shareholder, significantly undervalues BBX.
- December 1, 2016: Anthem (ANTM) could face a penalty of about $3 billion from the national Blue Cross Blue Shield Association if it fails to derive the bulk of its nationwide revenue from Blue-branded products after acquiring Cigna (CI), according to testimony from an Anthem executive during a U.S. antitrust trial in Washington.
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