Merger activity decreased last week with three new deals announced and seven 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 no new deals announced in the Deals in the Works section.
|Total Number of Deals Closed in 2018||81|
|Total Number of Deals Not Completed in 2018||6|
|Total Number of Pending Deals|
|Stock & Cash Deals||18|
|Total Number of Pending Deals||83|
|Total Deal Size||$1.03 trillion|
- The acquisition of Radisys Corporation (RSYS) by Reliance Industries Limited for $100.94 million or $1.72 per share in cash.
- The acquisition of Juniper Pharmaceuticals (JNP) by Catalent (CTLT) for $111.22 million or $11.50 per share in cash.
- The acquisition of Xplore Technologies (XPLR) by Zebra Technologies Corporation (ZBRA) for $83.96 million or $6.00 per share in cash.
- On June 25, 2018, SteadyMed (STDY) issued a notice that an extraordinary general meeting of shareholders of SteadyMed will be held at the offices of SteadyMed Therapeutics on July 30, 2018.
- On July 2, 2018, The Special Committee of the Perry Ellis International (PERY) Board of Directors confirmed receipt of a non-binding, unsolicited proposal from privately-held Randa Accessories Leather Goods to acquire 100% of the fully diluted common stock of Perry Ellis for $28.00 per share in cash.
- On July 3, 2018, ILG (ILG) announced that it will hold a special meeting of its stockholders on August 28, 2018, at which ILG stockholders will vote on the previously announced proposed merger of ILG and Marriott Vacations Worldwide Corporation (VAC).
- On July 3, 2018, Marathon Petroleum (MPC) and Andeavor (ANDV) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with the proposed transaction whereby MPC would acquire all of Andeavor’s outstanding shares. The parties have also received the necessary regulatory clearance by the Canadian Commissioner of Competition pursuant to the Competition Act (Canada).
- On July 6, 2018, Qualcomm Incorporated (QCOM) announced that Qualcomm River Holdings, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors (NXPI). The tender offer is now scheduled to expire on July 13, 2018, unless extended or earlier terminated.
- On July 6, 2018, Zoetis (ZTS) and Abaxis (ABAX) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Zoetis’ previously-announced acquisition of Abaxis.
- On July 6, 2018, Takeda Pharmaceutical Company Limited and TiGenix (TIG) announced the results of the second acceptance period of Takeda’s previously announced tender offer in cash for all outstanding ordinary shares of TiGenix. The number of Securities tendered into the Bid, gives access to 96.03% of the voting rights given access to by all of the outstanding Securities on a fully diluted basis. Following settlement of the Securities, Takeda will own 96.08% of the outstanding Ordinary Shares and will have acquired 95.76% of the Ordinary Shares that were the subject of the Bid. The conditions for a simplified squeeze-out under Belgian law have therefore been met. The squeeze-out period will commence from July 6, 2018, and will expire on July 26, 2018.
- The acquisition of Infinity Property (IPCC) by Casualty Corporation (KMPR) on July 2, 2018. It took 136 days for this deal to be completed.
- The acquisition of Kindred Healthcare (KND) by TPG Capital, Welsh, Carson, Anderson & Stowe and Humana on July 2, 2018. It took 195 days for this deal to be completed.
- The acquisition of Tallgrass Energy Partners (TEP) by Tallgrass Energy GP (TEGP) on June 30, 2018. It took 96 days for this deal to be completed.
- The acquisition of Hawaiian Telcom Holdco (HCOM) by Cincinnati Bell (CBB) on July 2, 2018. It took 367 days for this deal to be completed.
- The acquisition of Cavium (CAVM) by Marvell Technology Group (MRVL) on July 6, 2018. It took 228 days for this deal to be completed.
- The acquisition of FNB Bancorp (FNBG) by TriCo Bancshares (TCBK) on July 6, 2018. It took 206 days for this deal to be completed.
- The acquisition of WGL Holdings (WGL) by AltaGas on July 6, 2018. It took 527 days for this deal to be completed.
Top 10 deals with largest spreads:
|AKRX||04/24/2017||Fresenius Kabi (N/A)||$34.00||$18.07||07/31/2018||88.16%||1462.61%|
|RAD||02/18/2018||Albertsons Companies, Inc. (N/A)||$2.50||$1.74||09/30/2018||43.68%||192.08%|
|NXPI||10/27/2016||QUALCOMM Incorporated (QCOM)||$127.50||$107.47||07/13/2018||18.64%||1700.70%|
|GNW||10/23/2016||China Oceanwide Holdings Group Co., Ltd. (N/A)||$5.43||$4.58||08/15/2018||18.56%||183.08%|
|SCG||01/03/2018||Dominion Energy, Inc. (D)||$46.84||$40.63||12/31/2018||15.29%||31.90%|
|SHPG||05/08/2018||Takeda Pharmaceutical Company Limited (TKPYY)||$194.74||$170.47||06/30/2019||14.24%||14.60%|
|CTWS||03/15/2018||SJW Group (SJW)||$76.54||$67.07||12/31/2018||14.12%||29.46%|
|RSYS||07/02/2018||Reliance Industries Limited (N/A)||$1.72||$1.51||12/31/2018||13.91%||29.01%|
|ESRX||03/08/2018||Cigna Corporation (CI)||$90.64||$80.07||12/31/2018||13.20%||27.53%|
|GGP||03/26/2018||Brookfield Property Partners (BPY)||$23.50||$20.84||07/31/2018||12.76%||211.76%|
List of all pending deals:
List of all pending deals:
Disclaimer: I hold positions in SteadyMed (STDY), GGP Inc. (GGP), magicJack VocalTec (CALL), 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.