Merger Arbitrage Mondays – June 4, 2018
There were no new deals announced last week. Two pending deals closed and one deal failed. 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:
Deal Updates:
- On May 29, 2018, Bayer (BAYRY) won U.S. antitrust approval for its planned takeover of Monsanto (MON) on condition that it sells about $9 billion in assets.
- On May 29, 2018, Rosetta Genomics (ROSG) announced that the pending of merger of a subsidiary of Genoptix, with the Company has not occurred as scheduled and that Genoptix has refused to provide assurances that it intends to complete the transaction. Unless the transaction is completed by May 30, 2018, the Company intends to file for bankruptcy protection in Israel and the United States. This was an unfortunate outcome for a deal that failed twice. The first time, shareholders rejected the deal and Rosetta Genomics sold a portion of the company. The second time around, shareholders approved the deal and the spread on the deal was negligible right before the company declared bankruptcy. We have marked this deal as not completed.
- On May 29, 2018, Jacksonville Bancorp (JXSB) and CNB Bank Shares received the final regulatory approval necessary to complete the merger. The parties expect to complete the Merger on or about June 4, 2018, subject to the satisfaction of customary closing conditions.
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