Merger Arbitrage Mondays – Liberty Tax Agrees To Pay 44% More For Sears Hometown And Outlet Stores
Merger activity remained unchanged last week with four new deals announced and three 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 were three new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of SRC Energy (SRCI) by PDC Energy (PDCE) for $1.7 billion in an all stock deal. Under the terms of the agreement, SRC shareholders will receive a fixed exchange ratio of 0.158 PDC shares for each share of SRC common stock. We added SRCI as a potential deal to the Deals in the Works section on August 7, 2019, and the price after the news of the potential deal came out was $4.26.
- The acquisition of Ecology & Environment (EEI) by WSP Global for $50.5 million. Under the terms of the agreement, E & E’s shareholders will receive $15.00 in cash, and a special dividend of up to $0.50, for each share of Class A and Class B common stock they own.
- The acquisition of Castle Brands (ROX) by Pernod Ricard for $223 million or $1.27 per share in cash. We added ROX as a potential deal to the Deals in the Works section on April 26, 2017, and the price after the news of the potential deal came out was $1.62.
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