Merger Arbitrage Mondays – February 13, 2017
Merger Activity decreased last week with two new deals announced and four 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 First Community Financial Partners (FCFP) by First Busey Corporation (BUSE) for $235.8 million in a cash plus stock deal. Under the terms of the merger agreement, First Community shareholders will receive 0.396 shares of BUSE common stock and $1.35 in cash for each share of FCFP common stock.
- The acquisition of Mead Johnson Nutrition Company (MJN) by Reckitt Benckiser Group for $17.9 billion or $90.00 per share in cash.
Deal Updates:
- On February 3, 2017, Headwaters Incorporated (HW) announced that its stockholders approved the acquisition of Headwaters by Boral Limited at its special meeting of stockholders.
- On February 6, 2017, Qualcomm (QCOM) announced that it is extending its cash tender offer for all of the outstanding shares of NXP Semiconductors (NXPI). Qualcomm said the tender offer is now slated to expire March 7. It is a little surprising that only 14.8% of the NXPI shares had been tendered by February 6th, the original expiration date for the tender offer.
- On February 7, 2017, Columbia Pipeline Partners (CPPL) announced that it adjourned the special meeting of unitholders that was supposed to take place on February 7, 2017 until February 16, 2017.
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