Merger activity increased last week with one new deal announced and one active deal completed.
While we only saw 4 new deals announced this month, Q3 2020 was very active overall with 33 new deals announced. The total value of these deals was just north of $137 billion and six of these were worth over $10 billion each including Gilead’s recently announced acquisition of Immunomedics (IMMU).
Several deals in our list of active deals were granted early termination of the required waiting period under the Hart-Scott-Rodino Act from the The Federal Trade Commission (FTC) last week while others like InnerWorkings (INWK) received shareholder approval. I was closely tracking InnerWorkings on account of its nearly 6% spread but unfortunately did not buy before shareholder approval. The spread almost instantaneously narrowed to just 0.5% after shareholders approved the acquisition.
Shares of Standard AVB Financial (STND) shot up almost 73% on Friday, after the company announced that it was getting acquired by Dollar Mutual Bancorp for $158 million in cash.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.