Merger Arbitrage Mondays – October 29, 2018
Merger activity decreased last week with five new deals announced and four pending deals closing. We saw one of the largest acquisitions in the software industry with IBM paying a huge premium to acquire Red Hat. We also saw yet another Master Limited Partnership (MLP) merge into its General Partner to simplify its corporate structure. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were four new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of JetPay Corporation (JTPY) by NCR Corporation (NCR) for $184 million or $5.05 per share in cash.
- The acquisition of American Railcar Industries (ARII) by a wholly-owned subsidiary of ITE Rail Fund for $1.75 billion or $70.00 per share in cash.
- The acquisition of EnLink Midstream Partners (ENLK) by EnLink Midstream (ENLC) for $10.3 billion in an all stock deal. Under the terms of the agreement, ENLK common unitholders will be entitled to receive 1.15 units of ENLC per ENLK unit owned.
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