Merger Arbitrage Mondays – March 12, 2018
Merger activity increased last week with five new deals announced, seven pending deals closing and one pending deal failing. It has been a tough couple of weeks for arbitrageurs with two deals failing and a big decline in Akorn’s (AKRX) stock. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
We added a new feature to the MAT to display a spread history chart for all active mergers and discussed it in this post last Friday. A spread history chart for Monsanto (MON) is shown below.
There were no new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of XL Group (XL) by AXA for $15.3 billion or $57.6 per share in cash.
- The acquisition of Rosetta Genomics (ROSG) by Genoptix for $2.35 million or $0.425 per share in cash. The $0.425 per share price is estimated because the companies indicated that “this purchase price equates to an amount that is preliminarily estimated to be $0.40 – $0.45”. This is the second time the companies are trying to merge. As we reported two weeks ago, they called off the merger when Rosetta Genomics was unable to get shareholder approval for the deal. The deal terms have changed and we are adding this as a new deal.
- The acquisition of CommerceHub (CHUBA) by GTCR and Sycamore Partners for $1.1 billion or $22.75 per share in cash.
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