Merger Arbitrage Mondays – International Speedway Corporation Acquired By NASCAR Holdings
Merger activity increased last week with three new deals announced, two pending deals closing and one deal terminated. 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 Isramco (ISRL) by Naphtha Israel Petroleum Corporation for $393.11 million or $121.40 per share in cash.
- The acquisition of International Speedway Corporation (ISCA) by NASCAR Holdings for $2 billion or $45.00 per share in cash. We added ISCA as a potential deal to the Deals in the Works section on November 9, 2018 and the price after the news of the potential deal came out was $39.06.
- The acquisition of Avon Products (AVP) by Natura Cosméticos S.A. (NATU3.SA) for $3.7 billion in an all stock deal. As part of this transaction, a new Brazilian holding company, Natura Holding S.A., has been created. Under the terms of the agreement, Avon shareholders will receive a fixed exchange ratio of 0.300 Natura Holding shares for each share of Avon common stock. Upon closing, Natura Holding S.A.s’ stock will be listed on B3 with a 55% public float and it will also have ADRs listed on the NYSE. Avon shareholders will have the option to receive ADRs traded on the NYSE or shares listed on B3.
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