Merger Arbitrage Mondays – March 27, 2017
Merger activity was muted last week as there were no new deals announced. Three pending deals closed and we have a bunch of updates related to active deals. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were no new deals announced in the Deals in the Works section.
Deal Statistics:
Deal Updates:
- On March 20, 2017, KongZhong Corporation (KZ) announced that, at an extraordinary general meeting, the Company’s shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger.
- On March 20, 2017, MoneyGram (MGI) announced that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis could reasonably be expected to result in a “Company Superior Proposal” as defined in MoneyGram’s merger agreement with Ant Financial Services Group.
- On March 21, 2017, The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) announced that they have extended the termination date of the definitive agreement under which Sherwin-Williams will acquire Valspar for $113 per share in an all-cash transaction, from March 21, 2017 to June 21, 2017.
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