Merger Arbitrage Mondays – April 2, 2018
Merger activity increased last week with five new deals announced and two 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 were three new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of iKang Healthcare Group (KANG) by IK Healthcare Investment Limited in a Going Private Transaction for $1.5 billion. Under the terms of the agreement, IK Healthcare Investment Limited will acquire the Company for a cash consideration of US$41.20 per Class A common share or Class C common share of the Company or US$20.60 per American depositary share of the Company, each representing ½ of a Class A Share. We added KANG as a potential deal to the Deals in the Works section on March 12, 2018 and the price after the news of the potential deal came out was $18.80.
- The acquisition of Tallgrass Energy Partners (TEP) by Tallgrass Energy GP (TEGP) for $4.79 billion in an all stock deal. Under the terms of the merger agreement, TEGP will acquire the approximately 47.6 million TEP common units held by the public at a fixed exchange ratio of 2.0 TEGP Class A shares for each outstanding common unit.
- The acquisition of The Finish Line (FINL) by JD Sports Fashion for $412.08 million or $13.50 per share in cash.
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