Merger Arbitrage Mondays – Thoma Bravo’s Acquisition of Instructure Includes A Go-Shop Provision
Merger activity increased 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 Audentes Therapeutics (BOLD) by Astellas Pharma for $2.65 billion or $60.00 per share in cash.
- The acquisition of AK Steel Holding Corporation (AKS) by Cleveland-Cliffs (CLF) for $3 billion in an all stock deal. Under the terms of the merger agreement, AK Steel shareholders will receive 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock they own.
- The acquisition of Instructure (INST) by Thoma Bravo for $1.86 billion or $47.60 per share in cash.We added INST as a potential deal to the Deals in the Works section on November 13, 2019, and the price after the news of the potential deal came out was $50.44.
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