Merger Arbitrage Mondays – May 14, 2018
Merger activity decreased last week with four new deals announced and one pending deal 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 two new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of Gramercy Property Trust (GPT) by affiliates of Blackstone Real Estate Partners VIII for $7.6 billion or $27.50 per share in cash.
- The acquisition of Xcerra Corporation (XCRA) by Cohu (COHU) for $627 million in a cash plus stock deal. Under the terms of the agreement, Xcerra shareholders will be entitled to receive $9.00 in cash and 0.2109 of a share of Cohu common stock, subject to the terms of the definitive agreement.
- The acquisition of Shire (SHPG) by Takeda Pharmaceutical Company Limited (TKPYY) for $77.78 billion in a cash plus stock deal. Under the terms of the acquisition, Shire shareholders will be entitled to receive, for each Shire share, $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda ADSs. We have used $20.61 as the price for the Takeda ADS and multiplied it by 1.678 for the stock portion of the deal. We have added this as a Special Conditions deal.
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