Merger Arbitrage Mondays – January 7, 2019
Merger activity increased last week with two new deals announced and nine 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 was one new deal announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of MedEquities Realty Trust (MRT) by Omega Healthcare Investors (OHI) for $600 million in a cash plus stock deal. Under the terms of the agreement, MedEquities stockholders will receive a fixed exchange ratio of 0.235 Omega common shares plus $2.00 in cash for each share of MedEquities common stock held by them. We added MRT as a potential deal to the Deals in the Works section on August 15, 2018 and the price after the news of the potential deal came out was $10.33.
- The acquisition of Celgene Corporation (CELG) by Bristol-Myers Squibb Company (BMY) for $74 billion in a cash plus stock deal. Under the terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. Celgene shareholders will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle the holder to receive a payment for the achievement of future regulatory milestones.
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