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.
|Total Number of Deals Closed in 2018||60|
|Total Number of Deals Not Completed in 2018||6|
|Total Number of Pending Deals|
|Stock & Cash Deals||18|
|Total Number of Pending Deals||82|
|Total Deal Size||$969.91 billion|
- 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.
- On May 30, 2018, RPX Corporation (RPXC) and HGGC announced that they have received clearance from the German Federal Cartel Office in connection with the previously-announced tender offer by HGGC’s affiliate, Riptide Purchaser.
- On May 31, 2018, Connecticut Water Service (CTWS) announced that it and SJW Group (SJW) have amended the terms of the companies’ merger agreement. The amended agreement, which was unanimously approved by the Connecticut Water Board of Directors, includes a new go-shop provision, pursuant to which Connecticut Water, with the assistance of its financial advisors, will actively solicit proposals for an alternative merger, acquisition or other strategic transaction involving Connecticut Water.
- On June 1, 2018, Kemper Corporation (KMPR) and Infinity Property and Casualty Corporation (IPCC) announced that the companies’ respective shareholders approved proposals related to the previously announced merger agreement under which Kemper will acquire Infinity.
- June 1, 2018: According to Reuters, China’s markets regulator said that it is still reviewing Qualcomm’s (QCOM) proposed acquisition of NXP Semiconductors (NXPI) and is in talks with Qualcomm about ways to eliminate negative impact from the deal. The Qualcomm merger of NXP has been approved by eight of nine required global regulators, with Chinese clearance the only one pending. We have extended the closing date for this deal to June 30, 2018.
- On June 2, 2018, Prysmian Group and General Cable Corporation (BGC) announced that the parties have been informed that they have obtained clearance from the Committee on Foreign Investment in the United States (CFIUS) for the proposed acquisition of General Cable by Prysmian. Prysmian and General Cable currently expect that the closing of the transaction will occur on June 6, 2018, subject to the satisfaction or waiver of the remaining customary conditions to closing set forth in the merger agreement between the parties.
- June 3, 2018: According to Reuters, Bayer (BAYRY) launched a 6 billion euros ($7 billion) rights issue, a cornerstone of the financing package for its planned $62.5 billion takeover of seeds maker Monsanto (MON). Bayer is set to close the transaction on June 7.
- The acquisition of Microsemi Corporation (MSCC) by Microchip Technology Incorporated (MCHP) on May 29, 2018. It took 88 days for this deal to be completed.
- The acquisition of Atlantic Coast Financial Corporation (ACFC) by Ameris Bancorp (ABCB) on May 29, 2018. It took 88 days for this deal to be completed.
Top 10 deals with largest spreads:
|AKRX||04/24/2017||Fresenius Kabi (N/A)||$34.00||$13.79||06/30/2018||146.56%||2057.41%|
|RAD||02/18/2018||Albertsons Companies, Inc. (N/A)||$2.50||$1.57||09/30/2018||59.24%||183.23%|
|GNW||10/23/2016||China Oceanwide Holdings Group Co., Ltd. (N/A)||$5.43||$3.55||07/01/2018||52.96%||715.91%|
|SHPG||05/08/2018||Takeda Pharmaceutical Company Limited (TKPYY)||$194.74||$160.75||06/30/2019||21.14%||19.74%|
|SCG||01/03/2018||Dominion Energy, Inc. (D)||$42.39||$35.35||12/31/2018||19.91%||34.60%|
|ESRX||03/08/2018||Cigna Corporation (CI)||$90.33||$77.07||12/31/2018||17.20%||29.90%|
|GGP||03/26/2018||Brookfield Property Partners (BPY)||$23.50||$20.36||07/31/2018||15.42%||98.76%|
|TIG||01/05/2018||Takeda Pharmaceutical Company Limited (N/A)||$42.72||$37.1||06/30/2018||15.15%||212.66%|
|TRCO||05/08/2017||Sinclair Broadcast Group, Inc. (SBGI)||$41.37||$35.99||09/30/2018||14.95%||46.25%|
|STC||03/16/2018||Fidelity National Financial, Inc. (FNF)||$49.20||$42.98||06/30/2019||14.46%||13.50%|
List of all pending deals:
List of all pending deals:
Disclaimer: I hold positions in SteadyMed (STDY), WGL Holdings (WGL), GGP Inc. (GGP), magicJack VocalTec (CALL), Monsanto (MON), Rite Aid (RAD) and Southcross Energy Partners (SXE). Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.