Expected to close in the middle of 2017 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Genworth Financial will receive $5.43 per share in cash.

Update(s)

December 21, 2016: Genworth Financial (GNW) announced that under the HSR Act, the merger with China Oceanwide Holdings Group may not be completed until certain information and materials have been provided by Asia Pacific and Genworth to the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission, and the applicable waiting period under the HSR Act has expired or been terminated. The parties filed the required notifications with the Antitrust Division and the FTC on December 7, 2016 and early termination of the applicable waiting period was granted on December 16, 2016.

January 25, 2017: Genworth Financial (GNW) announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will commence mailing to stockholders of record the definitive proxy materials in connection with the previously announced transaction with China Oceanwide Holdings Group. The special meeting of Genworth stockholders will be held on Tuesday, March 7, 2017.

March 7, 2017: Genworth Financial (GNW) announced that at its stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group.

April 29, 2017: China Oceanwide Holdings Group said that it had refiled its application for U.S. approval of its $2.7 billion acquisition of life insurance company Genworth Financial (GNW), in a bid to add more time to the regulatory review.

July 13, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group reported that they have withdrawn and re-filed their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS) a second time to provide CFIUS more time to review and discuss the proposed transaction between Genworth and Oceanwide.

August 2, 2017: Genworth (GNW) and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.

September 19, 2017: China’s Oceanwide Holdings is aiming to close its $2.7 billion acquisition of U.S. insurer Genworth Financial (GNW) by end of this year after securing approval from a U.S. government panel, said an executive of the Chinese firm.

October 2, 2017: A.M. Best commented that the Long-Term Issuer Credit Ratings of “bb-” of Genworth Financial (GNW) and Genworth Holdings as well as their existing Long-Term Issue Credit Ratings will remain under review with negative implications following the announcement that Genworth and China Oceanwide Holdings Group  have withdrawn their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS).

October 4, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the North Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth’s North Carolina-domiciled insurance companies, including Genworth Mortgage Insurance Corporation, as contemplated under the merger agreement entered into by Genworth and Oceanwide.

October 9, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the South Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth’s South Carolina-domiciled special purpose financial captive insurance subsidiary, Rivermont Life Insurance Company I, as contemplated under the merger agreement.

November 29, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to a second waiver and agreement of each party’s right to terminate the previously announced merger agreement. The second waiver and agreement extends the previous deadline of Nov. 30, 2017, to April 1, 2018, and allows additional time for regulatory reviews of the transaction.

January 4, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group issued an update on the status of their efforts to obtain clearance of their proposed transaction from CFIUS. There can be no assurances that CFIUS will ultimately agree to clear a transaction between Genworth and Oceanwide on terms acceptable to the parties or at all. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of state-level regulatory approvals that are pending in Delaware and New York, as well as regulatory reviews in China and other international jurisdictions and other closing conditions.

Expected to close in 2018 for a closing value of $1.62 billion. Upon completion of the merger, shareholders of Nxstage Medical will receive $30.00 per share in cash.

Update(s)

October 27, 2017: NxStage Medical (NXTM) announced that at a special meeting of stockholders, the Company’s stockholders voted to adopt the previously announced Agreement and Plan of Merger with Fresenius Medical Care Holdings.

Expected to close in the second quarter of 2018 for a closing value of $815 million in an all stock deal. Under the terms of the agreement, public unitholders of SXE will receive 0.160 AMID common units for each SXE common unit in a unit-for-unit merger.

Expected to close before year-end 2017 for a closing value of $108.7 billion in a cash plus stock deal. Under the terms of the agreement, Time Warner shareholders will receive $107.50 per share under the terms of the merger, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock. The stock portion will be subject to a collar such that Time Warner shareholders will receive 1.437 AT&T shares if AT&T’s average stock price is below $37.411 at closing and 1.3 AT&T shares if AT&T’s average stock price is above $41.349 at closing.

Update(s)

December 1, 2016: AT&T (T) executives reportedly met with members of Donald Trump’s transition team, which told the telecom company its proposed merger would be scrutinized without prejudice. Executives are apparently confident the deal can pass regulatory review.

December 22, 2016: AT&T (T) announced that it has found a leader for its integration with Time Warner (TWX). The Dallas telecom has chosen Lori Lee, who currently serves as senior executive vice president and global marketing officer.

December 23, 2016: Brean Capital’s Alan Gould mentioned in a note that the arbitrage discount to the AT&T (T) to acquire Time Warner (TWX) has shrunk from the high teens to 12 percent. Gould downgraded the rating on Time Warner from Buy to Hold.

January 6, 2017: Dallas-based AT&T (T) said in a securities filing that it anticipates Time Warner (TWX) will not need to transfer any of its FCC licenses to AT&T, which would likely mean the deal will only need the approval of the U.S. Justice Department.

January 9, 2017: Time Warner (TWX) invited its stockholders to attend a special meeting of the shareholders of Time Warner that will be held on February 15. The deal could hit a roadblock unless Time Warner shareholders holding at least a majority of the shares outstanding as of the close of January 3, 2017 — the record for the special meeting — vote in favor of the transaction.

February 15, 2017: Time Warner (TWX) shareholders voted in unanimous favor of the company’s proposed $85-billion merger with AT&T (T).

February 23, 2017: Time Warner (TWX) said it plans to sell a broadcast station in Atlanta to Meredith (MDP) for $70 million, which could help speed the company’s planned merger with AT&T Inc (T).

February 27, 2017: The new chairman of the Federal Communications Commission said he didn’t expect the agency to have a role in reviewing AT&T (T)’s $85 billion takeover of Time Warner (TWX).

March 15, 2017: The European Union approved AT&T’s (T) proposed $85 billion purchase of Time Warner (TWX), saying that it raises no competition concerns in Europe.

April 18, 2017: The U.S. Federal Communications Commission said that it approved Time Warner’s (TWX) sale of a broadcast station in Atlanta to Meredith Corp (MDP), a transaction that could help speed Time Warner’s planned merger with AT&T (T).

August 22, 2017: The Instituto Federal de Telecomunicaciones and the Comisión Federal de Competencia Económica approved AT&T’s (T) pending acquisition of Time Warner (TWX).

September 4, 2017: The Chilean Fiscalía Nacional Económica (FNE) approved AT&T’s (T) pending acquisition of Time Warner (TWX).

October 23, 2017: Brazil’s antitrust authority, the Conselho Administrativo de Defesa Econômica (CADE) approved AT&T’s (T) pending acquisition of Time Warner (TWX). With CADE’s approval, AT&T and Time Warner have received all required merger approvals outside of the United States.  In the United States, the transaction remains under review by the U.S. Department of Justice.  AT&T expects the transaction to close by the end of 2017.

October 26, 2017: Seven groups from across the political spectrum joined together to urge the Justice Department to reject AT&T’s (T) $85B bid for Time Warner (TWX), objecting to the power over television that the combined company would have.

November 4, 2017: AT&T’s (T) late-stage talks with U.S. officials over the company’s $85.4 billion takeover of Time Warner (TWX) are dragging on as the Justice Department’s new antitrust chief takes a hands-on role in the review.

November 8, 2017: U.S. antitrust regulators pressed for major changes to AT&T’s (T) proposed takeover of Time Warner (TWX), with demands that threaten one of the biggest media deals ever.

November 16, 2017: According to Reuters, the U.S. Justice Department has approached 18 state attorneys general to try to win their support for an antitrust lawsuit to block AT&T Inc’s (T) $85.4 billion deal to buy  Time (TWX).

November 20, 2017: The Justice Department sued to block AT&T (T) from taking over Time Warner (TWX), a sweeping challenge to a deal it says would give one company too much control in a rapidly evolving media landscape.

November 28, 2017: AT&T (T) and Time Warner (TWX) argued that their proposed $85.4 billion  merger was “pro-competitive” and “pro-consumer”, as they sought to refute U.S. Justice Department allegations that the deal breaks antitrust law. The two companies have reportedly extended the deadline of their proposed merger to Apr 22, 2018. The duration of the deal was extended in order to gain the remaining regulatory approvals required to close the merger.

December 5, 2017: According to Reuters, the U.S. government on Tuesday urged a federal judge to reject the February court date sought by AT&T (T) and Time Warner (TWX) in a dispute over the firms’ proposed merger, arguing the companies are rushing to meet an April 22 closing deadline for their $85.4 billion deal.

December 8, 2017: The judge who will oversee the U.S. Justice Department’s bid to stop wireless and pay TV company AT&T Corp (T) from buying media company Time Warner (TWX) set March 19 as the trial date.

December 15, 2017: According to Reuters, The U.S. Department of Justice and AT&T (T) have held unsuccessful settlement talks over the wireless and pay-TV company’s bid to buy movie and TV show maker Time Warner (TWX).

December 21, 2017: According to Reuters, the judge overseeing the Justice Department’s bid to stop AT&T (T) from buying Time Warner (TWX) said that he would deny a request to tighten protections on confidential data.

December 21, 2017: AT&T (T), Time Warner (TWX), Corporate Sub and Merger LLC entered into a limited waiver and agreement, pursuant to which AT&T and Time Warner each waived, until June 21, 2018, its right to terminate the Merger Agreement due to a failure to complete their merger contemplated thereunder by April 22, 2018.

Expected to close in 2018 for a closing value of $14.6 billion in an all stock deal. Under the terms of the agreement, SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock.

Expected to close in the second half of 2018 for a closing value of $77 billion in a cash plus stock deal. Under the terms of the merger agreement, each outstanding share of Aetna common stock will be exchanged for $145.00 in cash and 0.8378 shares of CVS Health common stock.

Update(s)

December 8, 2017: CVS Health (CVS) expects the U.S. Justice Department to do the antitrust review of its planned acquisition of health insurer Aetna (AET).

Expected to close by the end of 2017 for a closing value of $66 billion. Upon completion of the merger, shareholders of Monsanto will receive $128 per share in cash.

Update(s)

March 9, 2017: According to Reuters, Bayer (BAYRY) and Monsanto (MON) are launching asset sales worth roughly $2.5 billion as they seek regulatory clearance for their $66 billion merger, people close to the matter said.

June 12, 2017: BASF SE (BASFY) and Syngenta AG (SYT) are among companies that have submitted preliminary bids for assets that Bayer AG (BAYRY) plans to sell in order to get regulatory approval for its $66 billion takeover of Monsanto (MON).

September 19, 2017: Bayer said it would likely take until early next year to complete the planned $66 billion takeover of Monsanto (MON), which it had previously expected to be under wraps by the end of 2017. Bayer also said that it was unable to propose the sale of any digital farming assets to allay EU concerns about its planned $66 billion takeover of Monsanto.

October 13, 2017: Bayer AG reached a 5.9 billion euro ($7 billion) deal to sell parts of its Crop Science unit to German chemical company BASF to alleviate regulatory concerns over its planned takeover of Monsanto (MON).

October 26, 2017: Bayer cut the value of its takeover of Monsanto (MON) by $2.5 billion (£1.89 billion), which combined with windfalls from asset sales means it may have to raise less than expected from shareholders. The Monsanto deal is now valued at $63.5 billion including debt, down from an initial $66 billion, because the U.S. seeds giant had lowered its financial liabilities.

November 6, 2017: The European Commission has resumed its antitrust review of Bayer’s planned takeover of Monsanto (MON) after the companies were given time to provide more information. The new deadline for the Commission to decide over the deal is now March 5, 2018. Bayer reiterated it was aiming to wrap up the deal in early 2018.

November 22, 2017: According to Reuters, Brazil’s antitrust agency Cade could extend by as up to 90 days its analysis of the takeover of seeds company Monsanto (MON) by Bayer AG.

December 1, 2017: Bayer and Monsanto (MON) announced that the Committee on Foreign Investment in the United States (“CFIUS”) has completed its review of the proposed merger, and has concluded that there are no unresolved national security concerns with respect to the transaction.

December 8, 2017: According to Bloomberg, Bayer AG is set to get a so-called statement of objections cataloging potential reasons for the European Union’s antitrust regulator to block its proposed $66 billion takeover of Monsanto (MON) as soon as next week.

Expected to close by early 2018 for a closing value of $4.75 billion. Upon completion of the merger, shareholders of Akorn will receive $34.00 per share in cash.

Update(s)

July 19, 2017: Akorn (AKRX) announced that its shareholders, at a special meeting, have overwhelmingly voted to approve the previously announced merger agreement providing for the acquisition of Akorn by Fresenius Kabi.

Expected to close in the first calendar quarter of 2017 for a closing value of $10 million. Upon completion of the merger, shareholders of Rosetta Genomics will receive $0.6 per share in cash.

Expected to close early in 2018 for a closing value of $14.6 billion in a cash plus stock deal. Upon completion of the merger, Scripps shareholders will receive $90 per share under the terms of the agreement, comprised of $63.00 per share in cash and $27.00 per share in Class C Common shares of Discovery stock. The stock portion will be subject to a collar based on the volume weighted average price of Discovery Class C Common Shares over the 15 trading days ending on the third trading day prior to closing. Scripps shareholders will receive 1.2096 Discovery Class C Common shares if the Average Discovery Price is at or below $22.32, and 0.9408 Discovery Class C Common shares if the Average Discovery Price is at or above $28.70. If the Average Discovery Price is greater than $22.32 but less than $28.70, Scripps shareholders will receive a number of shares between 1.2096 and 0.9408 equal to $27.00 in value. If the Average Discovery Price is between $22.32 and $25.51, Discovery has the option to pay additional cash instead of issuing more shares. Scripps shareholders will have the option to elect to receive their consideration in cash, stock or the mixture described above, subject to pro rata cut backs to the extent cash or stock is oversubscribed. Because of the complex structure of this deal, we are treating it as a Special Conditions deal with a deal price of $90.

Expected to close in the second half of 2018 for a closing value of $650 million in a cash plus stock deal. Under the agreement, Hawaiian Telcom stockholders will have the option to elect either $30.75 in cash, 1.6305 shares of Cincinnati Bell common stock, or a mix of $18.45 in cash and 0.6522 shares of Cincinnati Bell common stock for each share of Hawaiian Telcom, subject to proration such that the aggregate consideration to be paid to Hawaiian Telcom stockholders will be 60 percent cash and 40 percent Cincinnati Bell common stock.

Update(s):

November 7, 2017: Hawaiian Telcom Holdco (HCOM) announced that its stockholders voted overwhelmingly to approve the merger agreement with Cincinnati Bell (CBB).

December 8, 2017: The Hawai’i Department of Commerce and Consumer Affairs’ (DCCA) Cable Television Division (CATV) announced the conditional approval of the transfer of control of Hawaiian Telcom’s cable franchise to Cincinnati Bell (CBB). This development is an important step in the process of satisfying the closing conditions of Cincinnati Bell’s combination with Hawaiian Telcom Holdco (HCOM).

Expected to close in the third calendar quarter of 2017 for a closing value of $63.9 million. Under the terms of the merger agreement, each outstanding share of Anchor common stock will be exchanged for shares of Washington Federal, Inc. common stock upon the closing of the transaction. Each share of Anchor common stock was valued at $25.75, which is approximately equal to Anchor’s tangible book value as of December 31, 2016. The exact number of shares to be issued and the exchange ratio will be determined based upon the average of the volume-weighted price of Washington Federal common stock for the twenty trading days ending on the fifth trading day immediately preceding the closing date, subject to a negotiated collar.

Update(s)

September 15, 2017: Anchor Bancorp (ANCB) stated in their 10K filed on September 15, 2017 that the merger with Washington Federal (WAFD) is expected to be completed in the fourth calendar quarter of 2017.

September 27, 2017: Washington Federal (WAFD) and Anchor Bancorp (ANCB) announced that they have mutually agreed to amend their merger agreement. The amendment extends from December 31, 2017 to June 30, 2018 the date after which either party can elect to terminate the agreement if the transaction contemplated by the agreement has not yet been completed.

Expected to close in the first half of 2018 for a closing value of $142 milion. Upon completion of the merger, shareholders of magicJack will receive $8.71 per share in cash.

Expected to close in mid-calendar 2018 for a closing value of $6 billion in a cash plus stock deal. Under the terms of the definitive agreement, Marvell will pay Cavium shareholders $40.00 in cash and 2.1757 Marvell common shares for each share of Cavium common stock.

Expected to close in the fourth quarter of 2017 for a closing value of $6.6 billion in a cash plus stock deal. Under the terms of the agreement, Tribune stockholders will receive $35.00 in cash and 0.23 shares of Sinclair Class A common stock for each share of Tribune Class A common stock and Class B common stock they own.

Update(s)

June 15, 2017: Tribune (TRCO) shares were up sharply following a federal court ruling that greatly improves chances that the broadcast chain’s suitor, Sinclair Broadcast Group (SBGI), would be allowed to go through with their planned merger.

October 19, 2017: Tribune Media Company (TRCO) announced that at a special meeting, the stockholders of the Company voted overwhelmingly to approve the previously announced acquisition of the Company by Sinclair Broadcast Group (SBGI).

November 3, 2017: Four state attorneys general urged the Federal Communications Commission to reject Sinclair Broadcast Group’s (SBGI) proposed $3.9 billion acquisition of Tribune Media (TRCO), marking the latest hurdle for the controversial tie-up.

December 14, 2017: According to Wall Street Journal, the Justice Department has signaled it is willing to grant approval to Sinclair Broadcast Group (SBGI) planned takeover of Tribune Media (TRCO).

Expected to close in the second quarter of 2018 for a closing value of $145 million. Under the terms of the definitive merger agreement, each share of Atlantic Coast common stock will be converted into the right to receive 0.17 shares of Ameris common stock and $1.39 in cash.

Expected to close in the second quarter of 2018 for a closing value of $6.4 billion. Upon completion of the merger, sharheolders of WGL Holdings will receive $88.25 per share in cash.

Expected to close before the end of the year for a closing value of $439.97 million. Upon completion of the merger, shareholders of Xcerra Corporation will receive $10.25 per share in cash.

Update(s)

October 13, 2017: Xcerra Stockholders (XCRA) approved merger with an affiliate of Sino IC Capital and Unic Capital Management. The transaction is expected to close as soon as all regulatory approvals are received.

December 8, 2017: In the quarterly report filed on December 8, 2017, the company said that “assuming timely satisfaction of the necessary closing conditions, the Company anticipates that the Merger will be completed in our fiscal year ending July 31, 2018.”

December 21, 2017: Xcerra (XCRA) said that it would resubmit its deal to be acquired by a Chinese state-backed semiconductor investment fund to give U.S. regulators more time to review the transaction for national security concerns.

Expected to be completed by June 2018 for a closing value of $2.08 billion in an all stock deal. Under the terms of the agreement Gener8 shareholders will receive 0.7272 shares of Euronav shares for each share of Gener8.

Expected to close in the third quarter of 2018 for a closing value of $30 billion in a cash and stock deal. Under the terms of the agreement, each Rockwell Collins shareowner will receive $93.33 per share in cash and $46.67 in shares of UTC common stock, subject to a 7.5 percent collar centered on UTC’s August 22, 2017 closing share price of $115.69. We are treating this as a special conditions deal.

Expected to close in the second half of 2018 for a closing value of $5.3 billion. Upon completion of the merger, shareholders of Avista will receive $53 per share in cash.

Update(s)

September 14, 2017: Hydro One Limited and Avista Corporation (AVA) filed applications requesting regulatory approval of the proposed merger of the two companies. The applications have been filed with state utility commissions in Washington, Idaho, Oregon, Montana, and Alaska, as well as with the Federal Energy Regulatory Commission (FERC), requesting approval of the transaction on or before August 14, 2018.

November 21, 2017: Avista (AVA) shareholders approved the acquisition by Hydro One Limited.

Expected to close for a closing value of $315.3 million in an all stock deal. Under the terms of the merger agreement, FNB shareholders will receive 0.980 shares of TriCo common stock in exchange for each share of FNB common stock they hold. The merger agreement includes a trading collar that allows TriCo to terminate the merger agreement if the weighted average price of TriCo common stock, determined in accordance with the merger agreement, exceeds $49.78 and outperforms the KBW Regional Banking Index by more than 20%, unless FNB agrees to reduce the exchange ratio. Conversely, FNB has the right to terminate the merger agreement if the weighted average price of TriCo common stock is less than $33.18 and underperforms the KBW Regional Banking Index by more than 20%, unless TriCo agrees to increase the exchange ratio.

Expected to close in the first half of 2018 for a closing value of $9.2 billion. Upon completion of the merger, shareholders of Orbital ATK will receive $134.50 per share in cash.

Update(s)

November 29, 2017: Orbital ATK (OA) announced that its stockholders overwhelmingly approved the merger agreement providing for the proposed acquisition of Orbital ATK by Northrop Grumman Corporation (NOC).

December 7, 2017: Orbital ATK (OA) announced that, as expected, it has received a request for additional information (“second request”) from the Federal Trade Commission (FTC). This second request is part of the regulatory process in connection with the FTC’s review of Northrop Grumman’s (NOC) proposed acquisition of Orbital ATK. The company continues to expect the acquisition to close in the first half of 2018, after receiving regulatory approvals.

Expected to close in the first calendar quarter of 2018 for a closing value of $185.98 million. Upon completion of the merger, shareholders of Sigma Designs will receive $7.05 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $677.43 in a going-private transaction. Under the terms of the agreement, each ordinary share of the Company issued and outstanding immediately prior to the Effective Time will be cancelled and cease to exist in exchange for the right to receive $1.51 in cash without interest, and each American depositary share of the Company, representing 5 Shares, will be cancelled in exchange for the right to receive $7.55 in cash without interest.

Expected to close in the second quarter of 2017 for a closing value of $12.3 billion in an all stock deal. Under the terms of the agreement, Dynegy shareholders will receive 0.652 shares of Vistra Energy common stock for each share of Dynegy common stock they own.

Expected to close in the second half of 2018 for a closing value of $5.85 in a cash plus stock deal. Under the terms of the agreement, Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share.

Expected to close in the third quarter of 2018 for a closing value of $3 billion. Upon completion of the merger, shareholders of General Cable Corporation will receive $30.00 per share in cash.

Expected to close no later than January 1, 2018 for a closing value of $308.13 million. Upon completion of the merger, shareholders of Sparton Corporation will receive $23.50 per share in cash.

Update(s)

October 5, 2017: Sparton Corporation (SPA) announced that at a special meeting of Sparton shareholders, the shareholders approved the adoption of the previously announced Agreement and Plan of Merger by and among Sparton, Ultra Electronics Holdings plc and Ultra Electronics Aneira.

November 20, 2017: Sparton Corporation (SPA) announced that the Committee on Foreign Investment in the United States (CFIUS) completed its review process and stated that there are no unresolved national security concerns with respect to the previously announced proposed acquisition of Sparton by Ultra Electronics Holdings plc.

Expected to close in the first quarter of 2018 for a closing value of $17.3 billion. Upon completion of the merger, shareholders of Calpine Corporation will receive $15.25 per share in cash.

Update(s)

October 3, 2017: Calpine Corporation (CPN) announced the expiration of the 45-day “go-shop” period pursuant to the terms of the previously announced definitive agreement under which Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board will acquire Calpine. The acquisition is expected to be completed during the first quarter of calendar year 2018.

December 15, 2017: Calpine Corporation (CPN) announced that its stockholders approved the acquisition of Calpine by Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board for $15.25 per share in cash. The acquisition is expected to be completed during the first quarter of calendar year 2018, subject to satisfaction of the remaining customary closing conditions, including receipt of certain regulatory approvals.

Expected to close within nine months for a closing value of $3.1 billion. Under the terms of the agreement, shareholders of Straigh Path Communications will receive $184.00 per share in cash.

This is an all stock deal but the consideration is fixed at $184/share. The number of Verizon shares that shareholders will receive will vary to get to the $184/share fixed consideration. We are treating this as a special conditions deal.

Update(s)

August 2, 2017: Straight Path Communications (STRP) stockholders voted in favour of the proposal, to adopt the merger agreement between Straight Path Communications, Verizon Communications (VZ) and Waves Merger Sub.

Expected to close in the third quarter of 2017 for a closing value of $820.96 million in an all stock deal. Under the terms of the agreement, Capella shareholders will receive 0.875 Strayer shares for each Capella share.

Expected to close in the second quarter of 2018 for a closing value of $3.73 billion. Under the terms of the agreement, CB&I shareholders will be entitled to receive 2.47221 shares of McDermott common stock for each share of CB&I common stock owned (or 0.82407 shares if McDermott effects a planned three-to-one reverse stock split prior to closing), subject to any withholding taxes.

Expected to close in the first quarter of 2018 for a closing value of $13.26 million. Upon completion of the merger, shareholders of Repros Therapeutics will receive $0.67 per share in cash.

Expected to close late in the first calendar quarter of 2018, or early in the second calendar quarter of 2018 for a closing value of $408 million in an all stock deal. Under the terms of the agreement, each outstanding share of CSBK common stock will be exchanged for 1.191 shares of KRNY common stock.

Expected to close in the first half of 2018 for a closing value of $1.18 billion in an all stock deal. Under the terms of the agreement, Deltic stockholders will receive 1.80 common shares of Potlatch stock for each common share of Deltic that they own.

Expected to be completed by the end of December, 2017 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of Calgon Carbon will receive $21.50 per share in cash.

Update(s)

December 28, 2017: At a special meeting of Stockholders, the shareholders of Calgon Carbon Corporation (CCC) approved the merger of the Company with Kuraray. The parties continue to target the first quarter of 2018 for the closing of the merger.

Expected to close in the third quarter of 2017 for a closing value of $1 billion in an all stock deal. Under the terms of the merger agreement, shareholders of MainSource will receive 1.3875 common shares of First Financial common stock for each share of MainSource common stock.

Update(s)

December 4, 2017: First Financial Bancorp (FFBC) and MainSource Financial Group (MSFG)  announced that each company has received the requisite shareholder approval for the merger of MainSource with and into First Financial.

Expected to close early in the first quarter of 2018 for a closing value of $640.73 million in a cash plus stock deal. Under the terms of the agreement, Sun shareholders will receive 0.7884 shares of OceanFirst common stock and $3.78 in cash per share of Sun common stock. Sun shareholders will have the right to elect to receive stock or cash consideration for their shares, subject to proration, and the merger agreement will include a mechanic whereby the per share cash consideration and the implied value of the stock consideration will be equivalent based on the average OceanFirst share price over the five trading day period ending on the trading day immediately prior to the closing date.

Expected to close in the fourth quarter of 2017 for a closing value of $323.7 million in an all stcok deal. Under the terms of the agreement, shareholders of Paragon Commercial will receive 1.7250 shares of TowneBank common stock for each outstanding share of Paragon common stock.

Update(s)

December 1, 2017: The board of directors of Paragon Commercial Corporation (PBNC) unanimously approved a business combination in which Paragon will merge with and into TB Acquisition, a wholly owned subsidiary of TowneBank (TOWN). The merger is expected to be completed by March 31, 2018.

Expected to close in the first calendar quarter of 2018 for a closing value of $1.9 billion. Upon completion of the merger, shareholders of BroadSoft will receive $55.00 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $156.88 million. Upon completion of the merger, shareholders of Enzymotec will receive $11.90 per share in cash.

Update(s)

December 11, 2017: Enzymotec (ENZY) announced that at Enzymotec’s annual and extraordinary general meeting of shareholders, Enzymotec shareholders voted to approve the previously announced acquisition by Frutarom. Subject to fulfillment of certain customary closing conditions, the Company expects the acquisition to be completed by mid-January 2018.

Expected to close before Barracuda’s fiscal year end of Feb. 28, 2018 for a closing value of $1.29 billion. Upon completion of the merger, shareholders of Barracuda Networks will receive $27.55 per share in cash.

Expected to close in the fourth quarter of 2017 or the first quarter of 2018 for a closing value of $391 million. Upon completion of the merger, shareholders of Bear State Financial will receive $10.28 per share in cash.

Expected to close for a closing value of $3.9 billion. Upon completion of the merger, shareholders of Advanced Accelerator Applications will receive $82.00 per ADS (each representing 2 ordinary shares).

Update(s)

December 5, 2017: Advanced Accelerator Applications (AAAP) announced that its Board of Directors, following the completion of the information and consultation of the Company’s works council, has approved and adopted the transactions contemplated by the Memorandum of Understanding and determined to recommend that the Company’s stockholders support the offer, accept the offer and tender their shares in the offer.

Expected to close in the first quarter of 2018 for a closing value of $2.9 billion. Upon completion of the merger, shareholders of Buffalo Wild Wings will receive $157 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $5.9 billion. Upon completion of the merger, shareholders of Regal Entertainment Group will receive $23.00 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $482 million in an all stock deal. Under the terms of the agreement, Bank Mutual shareholders will receive 0.422 shares of Associated common stock for each share of Bank Mutual common stock.

Update(s)

October 24, 2017: Bank Mutual Corporation (BKMU) announced that its shareholders voted to approve the previously announced merger agreement providing for the merger of Bank Mutual with Associated Banc-Corp (ASB). The merger transaction remains subject to regulatory approvals and customary closing conditions; the companies expect the transaction will close in early 2018.

Expected to close by the second quarter of 2018 for a closing value of $2.28 billion in an all stock deal. Under the merger agreement, each outstanding common unit of Archrock Partners that Archrock does not already own will be converted into 1.400 shares of Archrock common stock. AROC is paying $607 million for the portion of APLP it doesn’t already own.

Expected to close in the first half of 2018 for a closing value of $1.06 billion in an all stock deal. Under terms of the transaction, Almost Family shareholders will receive 0.9150 shares of LHC Group for each existing Almost Family share.

Expected to close in the first quarter of 2018 for a closing value of $398.69 million. Upon completion of the merger, shareholders of Bazaarvoice will receive $5.50 per share in cash.

Expected to close in the first half of 2018 for a cloising value of $1.7 billion. Upon completion of the merger, shareholders of Ignyta will receive $27.00 per share in cash.

Expected to close by early second quarter of calendar 2018 for a closing value of $5.8 billion. Upon completion of the merger, shareholders of Snyder’s-Lance will receive $50.00 per share in cash.

Expected to be completed in the first quarter of 2018 for a closing value of $1.53 billion. Upon completion of the merger, shareholders of Bob Evans Farms will receive $77 per share in cash.

Update(s)

December 5, 2017: Post Holdings (POST) and Bob Evans Farms (BOBE) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Post’s previously announced proposed acquisition of Bob Evans has expired. The expiration of the waiting period satisfies one of the closing conditions of the transaction. The transaction is now expected to be completed in January 2018, subject to customary closing conditions and approval of Bob Evans’s stockholders.

Expected to close in the first quarter of 2017 for a closing value of $625 million. Upon completion of the merger, shareholders of Exactech will receive $42.00 per share in cash.

Update(s)

December 4, 2017: Exactech (EXAC) announced that it has entered into an amendment to its merger agreement with TPG Capital. Pursuant to the amended merger agreement, the Company’s common stock outstanding immediately prior to the effective time of the merger (other than certain shares held by the Company’s founders and certain management shareholders) will be converted into the right to receive $49.25 per share in cash. This represents an increase of approximately 17.3% over the $42.00 of per share merger consideration previously agreed to by Exactech and TPG Capital. TPG Capital has also increased its equity financing commitment to $737 million for purposes of consummating the merger.

Expected to close in the first quarter of 2018 for a closing value of $2.8 billion. Upon completion of the merger, shareholders of Time will receive $18.50 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $1.2 billion. Upon completion of the merger, shareholders of Sucampo Pharmaceuticals will receive $18.00 per share in cash.

Expected to close for a closing value of $662 million. Upon completion of the merger, shareholders of Entellus Medical will receive $24.00 per share in cash.

Expected to close in the first quarter of 2018 for a closing value of $778.02 million in an all stock deal. Under terms of the merger agreement, the owners of the outstanding common units in Alon Partners that Delek US and its affiliates do not currently own will receive a fixed exchange ratio of 0.49 Delek US shares for each common unit of Alon Partners.

Expected to close in the first quarter of 2018 for a closing value of $9.3 billion in an all stock deal. Under the terms of the merger agreement, each share of CalAtlantic stock will be converted into the right to receive 0.885 shares of Lennar Class A common stock.

Expected to close in the first quarter of 2018 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of Amplify Snack Brands will receive $12.00 per share in cash.

Expected to close in the second quarter of 2018 for a closing value of $128.6 million in an all stock deal. Under the terms of the Agreement, each share of Bay Bancorp common stock  will be exchanged for a number of OLB Shares calculated by dividing $11.80 by the volume weighted average closing prices of Old Line Bancshares common stock for the 20 trading days ending five trading days before the closing date of the Merger, subject to a minimum average price of $25.65 and a maximum average price of $29.16 and adjustments for the proceeds recognized in the recent settlement of certain litigation and the resolution of certain loans. As such, the per share consideration may be as low as 0.4047 OLB Shares if the average price is $29.16 or more and as high as 0.4600 OLB Shares if the average price is $25.65 or less, subject to the adjustments provided for in the Merger Agreement. The closing price we have in the MAT takes the collar into account but not the adjustments related to litigation and problem loans.

Expected to close in the first quarter of 2018 for a closing value of $102.36 million in a cash plus stock deal. Under the terms of the agreement, YuMe shareholders will receive $1.70 per share in cash and 7.325 shares in RhythmOne stock.

Update(s)

September 26, 2017: RhythmOne (RTHM.L) announced a 1/10 reverse stock split. We have adjusted the share portion of the cash plus stock transaction to 0.7325 shares. YuMe (YUME) shareholders will now receive $1.70 per share in cash and 0.7325 shares in RhythmOne stock.

Expected to close in the first quarter of 2018 for a closing value of $655 million in a cash or stock deal. Upon completion of the merger, each IXYS stockholder will be entitled to elect to receive, per IXYS share, either $23.00 in cash or 0.1265 of a share of Littelfuse common stock, subject to proration.

Update(s)

January 4, 2018: Littelfuse (LFUS) and IXYS Corporation (IXYS) announced the election deadline by which IXYS stockholders of record may elect to receive cash, shares of Littelfuse common stock or both as merger consideration in connection with the Littelfuse acquisition of IXYS. The election deadline is 5:00 p.m. Eastern Time on January 12, 2018. The parties expect to close the transaction on January 17, 2018.

Expected to close by the end of 2017 for a closing value of $38 billion. Upon completion of the merger, shareholders of NXP Semiconductors will receive $110 per share in cash.

Update(s)

November 18, 2016: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings, an indirect wholly owned subsidiary of Qualcomm, has commenced the previously announced tender offer for all of the outstanding common shares of NXP Semiconductors (NXPI) at a price of $110.00 per share, less any applicable withholding taxes and without interest, to the holders thereof and payable in cash.

January 27, 2017: NXP Semiconductors (NXPI) announced that, during an extraordinary general meeting of shareholders, NXP obtained shareholder approval for all items proposed relating to the previously disclosed tender offer by Qualcomm River Holdings, an indirect wholly owned subsidiary of QUALCOMM Incorporated (QCOM), to acquire all of the outstanding shares of NXP.

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.

March 7, 2017: Qualcomm Incorporated (QCOM) announced that it has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI).  The tender offer is now scheduled to expire on April 4, 2017.

April 4, 2017: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is now scheduled to expire on May 2, 2017, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

April 4, 2017: Qualcomm (QCOM) has received approval from U.S. antitrust regulators for its proposed $47 billion acquisition of NXP Semiconductors (NXPI).

June 2, 2017: EU antitrust regulators said that Qualcomm (QCOM) has not offered any concessions so far in its $38-billion bid for NXP Semiconductors (NXPI) increasing the risk of a lengthy investigation into the deal. Qualcomm had until June 1 to propose concessions to allay possible competition concerns over the biggest-ever deal in the semiconductor industry.

July 3, 2017: The European Commission decided to pause its antitrust review of the merger between Qualcomm (QCOM) and NXP Semiconductors (NXPI), because the regulators need more information from NXP and Qualcomm.

August 24, 2017: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI).  The tender offer is now scheduled to expire  on September 22, 2017, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. The transaction is expected to close by the end of calendar 2017.

September 6, 2017: EU antitrust regulators have halted for a second time their review of U.S. smartphone chipmaker Qualcomm’s (QCOM) $38-billion bid for NXP Semiconductors (NXPI) after the companies failed to provide key details of the deal.

September 22, 2017: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings, an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is now scheduled to expire on October 20, 2017, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. The transaction is expected to close by the end of calendar 2017.

October 10, 2017: Qualcomm (QCOM) offered to buy NXP Semiconductors (NXPI) without some of its patents in a bid to win EU antitrust regulatory approval.

November 6, 2017: Broadcom (AVGO) proposed to acquire Qualcomm (QCOM) for $70.00 per share in cash and stock in a transaction valued at $130 billion. Broadcom’s proposal will stand whether Qualcomm’s Pending Acquisition of NXP (NXPI) is consummated on the currently disclosed terms of $110 per share or the NXP transaction is terminated.

November 17, 2017: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NXPI). The tender offer is now scheduled to expire on December 15, 2017, unless extended or earlier terminated.

November 18, 2017: According to Reuters, Qualcomm (QCOM) is set to win “imminent” Japanese antitrust clearance for its $38-billion bid for NXP Semiconductors (NXPI) and gain Europe’s approval by the end of the year with slight tweaks to its concessions.

December 15, 2017: Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is now scheduled to expire on January 12, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. While the parties are working diligently to promptly complete the transaction, the parties now expect the closing to occur in early 2018.

Expected to close in the summer of 2018 for a closing value of $4.1 billion. Upon completion of the merger, shareholders of Kindred Healthcare will receive $9.00 per share in cash.

Update(s)

December 27, 2017: Brigade Capital Management, the holder of a 5.8 percent stake in Kindred Healthcare (KND), said it opposes a takeover of the medical-facility operator by a group of investors including health insurer Humana (HUM), because the price is too low.

Expected to close in the second half of 2017 for a closing value of $437.59 million. Upon completion of the merger, shareholders of Sinovac Biotech will receive $7.00 per share in cash.

Update(s)

July 1, 2017: Sinobioway Consortium raised its purchase price to $8 per share to acquire Sinovac Biotech (SVA).

November 3, 2017: Sinovac Biotech (SVA) announced that on November 1, 2017, the Company received a delisting determination letter from the Staff of the Listing Qualifications Department of The Nasdaq Stock Market related to the delisting of the Company’s shares.

December 31, 2017: We are extending the closing date for this deal to January 31, 2018 in the absence of any information from the company about the status of the deal.

Expected to close for a closing value of $66.1 billion in an all stock deal. Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. The per share consideration is subject to adjustment for certain tax liabilities arising from the spinoff and other transactions related to the acquisition. The initial exchange ratio of 0.2745 Disney shares for each 21st Century Fox share was set based on an estimate of such tax liabilities to be covered by an $8.5 billion cash dividend to 21st Century Fox from the company to be spun off. The exchange ratio will be adjusted immediately prior to closing of the acquisition based on an updated estimate of such tax liabilities. Such adjustment could increase or decrease the exchange ratio, depending upon whether the final estimate is lower or higher, respectively, than the initial estimate. However, if the final estimate of the tax liabilities is lower than the initial estimate, the first $2 billion of that adjustment will instead be made by net reduction in the amount of the cash dividend to 21st Century Fox from the company to be spun off. The amount of such tax liabilities will depend upon several factors, including tax rates in effect at the time of closing as well as the value of the company to be spun off.

Expected to close for a closing value of $2.68 billion. Under the terms of the agreement, shareholders of GCI will receive total consideration of $32.50 per share comprised of $27.50 per share in GCI Liberty Class A common stock and $5.00 in newly issued Series A preferred shares, based on a Liberty Ventures reference price of $43.65.

Update(s)

June 8, 2017: The Justice Department gave its approval to a complicated transaction for Liberty Interactive (QVCA) to buy Alaska’s biggest telecom, General Communication (GNCMA).

November 15, 2017: In connection with the previously announced proposed acquisition and subsequent split-off of General Communication (GNCMA) by Liberty Interactive Corporation (LVNTA) (1) on November 7, 2017, the Regulatory Commission of Alaska  approved the applications for acquisition of a controlling interest in certain RCA certificates of public convenience and necessity, and (2) on November 8, 2017, the Federal Communications Commission approved the applications for transfer of control and/or assignment of certain FCC licenses and authorizations. The proposed transactions are expected to close in the first quarter of 2018.