Merger activity increased last week with four new deals announced and seven deals closing.
Over the past month, we have seen early signs of a pickup in new deals and two large deals announced in the energy and healthcare sectors. The acquisition of Noble Energy by Chevron was a significant deal announced in the energy sector in the third week of July. The acquisition of Varian Medical Systems by Siemens for $16.4 billion is the largest health care deal announced this year.
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 last week.
Weekly Spread Changes:
The table below shows weekly spread changes between July 24, 2020, and July 31, 2020.
Symbol | Quote | Acquiring Company | Acquiring Company Quote | Current Spread | Last Week Spread | Spread Change Weekly | Deal Type |
---|---|---|---|---|---|---|---|
GNW | 2.04 | China Oceanwide Holdings Group Co., Ltd. (N/A) | 166.18% | 147.95% | 18.23% | All Cash | |
ONDK | 1.46 | Enova International, Inc. (ENVA) | 16.09 | 9.61% | 0.00% | 9.61% | Cash Plus Stock |
FIT | 6.54 | Google LLC (GOOG) | 1482.96 | 12.39% | 8.09% | 4.30% | All Cash |
OTEL | 11.51 | Oak Hill Capital (N/A) | 0.00 | 2.09% | 0.00% | 2.09% | All Cash |
DLPH | 14.99 | BorgWarner Inc. (BWA) | 36.6 | 5.16% | 3.26% | 1.90% | All Stock |
CETV | 3.98 | PPF Group N.V. (N/A) | 15.08% | 18.65% | -3.57% | All Cash | |
GRUB | 72.24 | Just Eat Takeaway.com N.V. (TKAYF) | 106.7 | -0.89% | 3.99% | -4.88% | All Stock |
CNXM | 8.96 | CNX Resources Corporation (CNX) | 9.65 | -5.22% | 0.00% | -5.22% | All Stock |
GILT | 5.59 | Comtech Telecommunications Corp. (CMTL) | 16.42 | 53.19% | 65.29% | -12.10% | Cash Plus Stock |
CDOR | 4.15 | NexPoint Hospitality Trust (N/A) | 167.47% | 201.63% | -34.16% | All Cash |
Deal Statistics:
Total Number of Deals Closed in 2020 | 88 |
Total Number of Deals Not Completed in 2020 | 13 |
Total Number of Pending Deals | |
Cash Deals | 25 |
Stock Deals | 10 |
Stock & Cash Deals | 3 |
Total Number of Pending Deals | 38 |
Aggregate Deal Consideration | $594.73 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 | $4.15 | 09/30/2020 | 167.47% | 1053.91% |
GNW | 10/23/2016 | China Oceanwide Holdings Group Co., Ltd. (N/A) | $5.43 | $2.04 | 09/30/2020 | 166.18% | 1045.77% |
GILT | 01/29/2020 | Comtech Telecommunications Corp. (CMTL) | $8.56 | $5.59 | 10/31/2021 | 53.19% | 42.76% |
VAR | 08/02/2020 | Siemens Healthineers AG (N/A) | $177.50 | $142.72 | 06/30/2021 | 24.37% | 26.87% |
CETV | 10/27/2019 | PPF Group N.V. (N/A) | $4.58 | $3.98 | 09/30/2020 | 15.08% | 94.87% |
FIT | 11/01/2019 | Google LLC (GOOG) | $7.35 | $6.54 | 09/30/2020 | 12.39% | 77.94% |
BREW | 11/12/2019 | Anheuser-Busch (N/A) | $16.50 | $14.81 | 12/31/2020 | 11.41% | 27.77% |
ONDK | 07/28/2020 | Enova International, Inc. (ENVA) | $1.60 | $1.46 | 12/31/2020 | 9.61% | 23.38% |
INWK | 07/16/2020 | HH Global Group Limited (N/A) | $3.00 | $2.75 | 12/31/2020 | 9.09% | 22.12% |
TIF | 11/25/2019 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | $135.00 | $125.36 | 09/30/2020 | 7.69% | 48.39% |
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.
Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter@asifsuria