Merger activity decreased last week with two new deals announced, and one deal closing.
One of the two new deals announced last week was on our list of potential deals and the other one was a “going private” transaction.
According to Reuters, Australian antitrust regulators expressed concerns regarding Google’s acquisition of Fitbit (FIT) and how it would give Google a large amount of user data thereby raising barriers for rivals. Oddly enough the spread on the deal narrowed despite this warning.
First Horizon National (FHN) and IBERIABANK Corporation (IBKC) received regulatory approval for their all stock merger of equals. The regulatory approval process also included previously-received approvals from the Tennessee Department of Financial Institutions and the Louisiana Office of Financial Institutions. Progenics Pharmaceuticals (PGNX) and Lantheus Holdings (LNTH) received approval from their shareholders and expect to complete the merger soon.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.