Merger Arbitrage Mondays – DryShips Goes Private In A Management Buyout
Merger activity remained unchanged last week with four new deals announced and one deal 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.
Deal Statistics:
New Deals:
- The acquisition of DryShips (DRYS) in a going private transaction for $915.73 million or $5.25 per share in cash. We added DRYS as a potential deal to the Deals in the Works section on June 13, 2019 and the price after the news of the potential deal came out was $3.88.
- The acquisition of Empire Resorts (NYNY) by Kien Huat Realty III Limited and Genting Malaysia Berhad for $1.03 billion or $9.74 per share in cash. We added NYNY as a potential deal to the Deals in the Works section on August 6, 2019 and the price after the news of the potential deal came out was $9.28.
- The acquisition of Pivotal Software (PVTL) by VMware (VMW) for $2.7 billion. Under the terms of the transaction, Pivotal’s Class A common stockholders will receive $15.00 per share cash for each share held, and Pivotal’s Class B common stockholder, Dell Technologies, will receive approximately 7.2 million shares of VMware Class B common stock, at an exchange ratio of 0.0550 shares of VMware Class B common stock for each share of Pivotal Class B common stock. We added PVTL as a potential deal to the Deals in the Works section on August 22, 2019 and the price after the news of the potential deal came out was $13.70.
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