Merger Arbitrage Mondays – January 27, 2020
Merger activity decreased last week with three 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 was one new deal announced in the Deals in the Works section.
Deal Statistics:
New Deals:
- The acquisition of CSS Industries (CSS) by IG Design Group for $88 million or $9.40 per share in cash.
- The merger of Franklin Financial Network (FSB) with FB Financial Corporation (FBK) for $611 million in a cash plus stock deal. Under the terms of the merger agreement, Franklin shareholders will receive 0.9650 shares of FB Financial common stock and $2.00 in cash for each share of Franklin stock.
- The acquisition of Changyou.com Limited (CYOU) by Sohu.com Limited (SOHU) for $579 million. Under the terms of the Merger Agreement each Class A ordinary share of the Company issued and outstanding other than the Excluded Shares, will be cancelled and cease to exist, in exchange for the right to receive $5.40 in cash without interest, and each outstanding American depositary share of the Company (each, an “ADS,” representing two Class A Ordinary Shares), other than the ADSs representing the Excluded Shares, will be cancelled in exchange for the right to receive $10.80 in cash without interest.We added CYOU as a potential deal to the Deals in the Works section on September 9, 2019, and the price after the news of the potential deal came out was $10.71.
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