Merger Arbitrage Mondays – May 21, 2018
Merger activity decreased last week with three 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 State Bank Financial Corporation (STBZ) by Cadence Bancorporation (CADE) for $1.6 billion in an all stock deal. Under the terms of the merger agreement, State Bank Financial Corporation shareholders will receive 1.160 shares of Cadence Bancorporation Class A common stock for each share of State Bank common stock.
- The acquisition of Abaxis (ABAX) by Zoetis (ZTS) for $1.7 billion or $83 per share in cash.
- The acquisition of Williams Partners (WPZ) by The Williams Companies (WMB) for $10.5 billion in an all stock deal. Under the terms of the merger agreement, Williams will acquire all of the outstanding units of Williams Partners at a fixed exchange ratio of 1.494 Williams shares for each public unit of Williams Partners (or a fixed exchange ratio of 1.513 if the closing does not occur before the record date for Williams’ dividend to be paid in the third quarter of 2018).
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