Merger activity ground to a halt last week with no new deals announced, three deals closing and one deal called off. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
This is the third week in the month of May with no new deals announced. There were however, two potential deals announced last week. The COVID-19 pandemic caused another deal to bite the dust last week. Texas Capital Bancshares (TCBI) and Independent Bank Group (IBTX) mutually agreed to terminate their merger agreement.
The bidding war for Tetraphase Pharmaceuticals (TTPH) finally came to an end last week after the company entered into a second amendment with AcelRx Pharmaceuticals (ACRX).
With respect to deal updates and approvals, Fidelity National Financial (FNF) and FGL Holdings (FG) are on track to close their deal today after receiving all regulatory approvals and clearances. Kearny Financial (KRNY) and MSB Financial (MSBF) also received all the shareholder and regulatory approvals and expect to close the deal early in the third quarter of 2020.
There were two new deals announced in the Deals in the Works section last week.