Merger activity increased last week with two new deals announced and one deal closing. You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
After receiving necessary approvals, Caesars Entertainment Corporation (CZR) and Standard Diversified (SDI) are on track to closing their deals in the near future. For a brief moment of time, on March 18, 2020, the Caesars Entertainment Corporation deal traded at an astounding spread of 156.77% before narrowing back to pre-crisis levels.
Public disputes between The Gilat Satellite Networks (GILT) and Comtech Telecommunications have put the deal in trouble after Comtech filed a complaint stating that Gilat has suffered a “Material Adverse Effect”.
Late Sunday night, the Wall Street Journal reported that Analog Devices (ADI) is in talks to buy rival Maxim Integrated Products (MXIM) for roughly $20 billion in what would be one of the largest merger deals of the year.
There were two new deals announced in the Deals in the Works section last week.
Weekly Spread Changes:
The table below shows weekly spread changes between July 3, 2020, and July 10, 2020.
Symbol | Quote | Acquiring Company | Acquiring Company Quote | Current Spread | Last Week Spread | Spread Change Weekly | Deal Type |
---|---|---|---|---|---|---|---|
GILT | 5.11 | Comtech Telecommunications Corp. (CMTL) | 15.26 | 65.67% | 35.42% | 30.25% | Cash Plus Stock |
GNW | 2.09 | China Oceanwide Holdings Group Co., Ltd. (N/A) | 159.81% | 138.16% | 21.65% | All Cash | |
CDOR | 3.92 | NexPoint Hospitality Trust (N/A) | 183.16% | 170.07% | 13.09% | All Cash | |
SDI | 13.5 | Turning Point Brands, Inc. (TPB) | 26.17 | 0.28% | -4.22% | 4.50% | All Stock |
BREW | 15.15 | Anheuser-Busch (N/A) | 8.91% | 5.57% | 3.34% | All Cash | |
QES | 0.88 | KLX Energy Services Holdings, Inc. (KLXE) | 1.81 | -0.37% | 1.70% | -2.07% | All Stock |
CETV | 3.84 | PPF Group N.V. (N/A) | 19.27% | 22.46% | -3.19% | All Cash | |
QGEN | 45.31 | Thermo Fisher Scientific Inc. (TMO) | 382.57 | -4.35% | 1.95% | -6.30% | All Cash |
FIT | 6.81 | Google LLC (GOOG) | 1541.74 | 7.93% | 16.85% | -8.92% | All Cash |
FSCT | 24.79 | Advent International (N/A) | 33.12% | 52.99% | -19.87% | All Cash |
Deal Statistics:
Total Number of Deals Closed in 2020 | 78 |
Total Number of Deals Not Completed in 2020 | 12 |
Total Number of Pending Deals | |
Cash Deals | 23 |
Stock Deals | 11 |
Stock & Cash Deals | 3 |
Special Conditions | 2 |
Total Number of Pending Deals | 39 |
Aggregate Deal Consideration | $543.64 billion |
New Deals:
Deal Updates:
Closed Deals:
Top 10 deals with largest spreads:
Symbol | Announced Date | Acquiring Company | Closing Price | Last Price | Closing Date | Profit | Annualized Profit |
---|---|---|---|---|---|---|---|
CDOR | 07/22/2019 | NexPoint Hospitality Trust (N/A) | $11.10 | $3.92 | 09/30/2020 | 183.16% | 835.68% |
GNW | 10/23/2016 | China Oceanwide Holdings Group Co., Ltd. (N/A) | $5.43 | $2.09 | 09/30/2020 | 159.81% | 729.13% |
GILT | 01/29/2020 | Comtech Telecommunications Corp. (CMTL) | $8.47 | $5.11 | 10/31/2021 | 65.67% | 50.35% |
FSCT | 02/06/2020 | Advent International (N/A) | $33.00 | $24.79 | 07/31/2020 | 33.12% | 636.22% |
CETV | 10/27/2019 | PPF Group N.V. (N/A) | $4.58 | $3.84 | 09/30/2020 | 19.27% | 87.92% |
GRUB | 06/10/2020 | Just Eat Takeaway.com N.V. (TKAYF) | $81.11 | $71.87 | 03/31/2021 | 12.86% | 17.91% |
TIF | 11/25/2019 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | $135.00 | $121.3 | 07/31/2020 | 11.29% | 216.97% |
BREW | 11/12/2019 | Anheuser-Busch (N/A) | $16.50 | $15.15 | 12/31/2020 | 8.91% | 18.91% |
LACQ | 12/30/2019 | GTWY Holdings Limited (N/A) | $11.50 | $10.6 | 12/31/2020 | 8.49% | 18.02% |
FIT | 11/01/2019 | Google LLC (GOOG) | $7.35 | $6.81 | 09/30/2020 | 7.93% | 36.18% |
List of all pending deals:
Disclaimer: Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.
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