Merger Arbitrage Mondays – February 5, 2018
Merger activity increased last week with six new deals announced and ten pending deals closing. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There was one new deal announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of Ablynx (ABLX) by Sanofi (SNY) for 3.9 billion euros or 45 euros per share in cash. We are using the current Euro to Dollar Exchange rate of 1.2. The spread on the deal is subject to change based on the currency exchange rates. We added ABLX as a potential deal to the Deals in the Works section on January 8, 2018 and the price after the news of the potential deal came out was $38.62.
- The acquisition of KapStone Paper and Packaging Corporation (KS) by WestRock Company (WRK) for $4.9 billion or $35 per share in a cash or stock deal. KapStone stockholders will have the option to receive $35 per share in cash, or to elect to receive 0.4981 WestRock shares per KapStone share, with elections of stock consideration capped at 25% of the outstanding KapStone shares but no limit on the number of KapStone shares that can receive cash consideration. We are treating this as an all cash deal.
- The acquisition of Callidus Software (CALD) by SAP SE (SAP) for $2.4 billion or $36 per share in cash.
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