Merger Arbitrage Mondays – Tax Preparation Company Gets Into The Vitamins Business
Merger activity increased last week with seven new deals announced and four 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.
In the context of the merger of Sprint with T-Mobile, it was interesting to see a large insider purchase by the Chairman of DISH Network (DISH) that we discussed here yesterday.
There were five new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of Gannett (GCI) by New Media Investment Group (NEWM) for $1.94 billion in an all stock deal.Under the terms of the Merger Agreement, shareholders of Gannett will receive $6.25 in cash and 0.5427 of a New Media share for each Gannett share they hold. We added GCI as a potential deal to the Deals in the Works section on May 30, 2019 and the price after the news of the potential deal came out was $7.6.
- The acquisition of Cambrex Corporation (CBM) by an affiliate of the Permira funds for $2.4 billion or $60.00 per share in cash.
- The acquisition of Corindus Vascular Robotics (CVRS) by Siemens Healthineers AG for $1.1 billion or $4.28 per share in cash.
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