Merger Arbitrage Mondays – Flutter Entertainment acquires The Stars Group
Merger activity increased last week with five new deals announced and five 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 two new deals announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of Dova Pharmaceuticals (DOVA) by Swedish Orphan Biovitrum AB for $915 million. Under the terms of the agreement, Dova stockholders will be offered an upfront payment for $27.50 per share in cash, along with one non-tradeable Contingent Value Right (CVR) that entitles them to an additional $1.50 per share in cash upon regulatory approval of DOPTELET for the treatment of chemotherapy-induced thrombocytopenia (CIT), representing a total potential consideration of $29.00 per share. We are treating this a “special conditions” deal. Dova is currently trading at $28.20, implying a greater than 50% probability of DOPTELET getting regulatory approval after adjusting for standard merger risks.
- The acquisition of Teekay Offshore Partners (TOO) by Brookfield Business Partners (BBU) for $5.39 billion or $1.55 per share in cash.
- The acquisition of Roan Resources (ROAN) by Citizen Energy Operating, an affiliate of Warburg Pincus LLC, for $1 billion or $1.52 per share in cash.
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