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Merger activity slowed down last week with no new deals announced, one completed active deal and one deal terminated.
Two potential deals were announced last week.
Due to failure of NHT’s operating partnership to consummate the acquisition and for material breaches of the merger agreement, Condor Hospitality Trust (CDOR) decided to terminate its merger agreement with NHT Operating Partnership. The Company is entitled to receive a termination fee of $11.925 million within five business days of its termination of the merger agreement.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
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 September 11, 2020, and September 18, 2020.
| Symbol | Quote | Acquiring Company | Acquiring Company Quote | Current Spread | Last Week Spread | Spread Change Weekly | Deal Type |
|---|---|---|---|---|---|---|---|
| GNW | 3.28 | China Oceanwide Holdings Group Co., Ltd. (N/A) | 65.55% | 46.36% | 19.19% | All Cash | |
| TIF | 116.26 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | 98.8 | 16.12% | 0.00% | 16.12% | All Cash |
| GRUB | 69.25 | Just Eat Takeaway.com N.V. (TKAYY) | 10.885 | 5.47% | 2.67% | 2.80% | All Stock |
| ONDK | 1.57 | Enova International, Inc. (ENVA) | 16.55 | 4.62% | 2.02% | 2.60% | Cash Plus Stock |
| MR | 4.52 | Southwestern Energy Company (SWN) | 2.45 | 1.12% | -1.46% | 2.58% | All Stock |
| GILT | 5.55 | Comtech Telecommunications Corp. (CMTL) | 15.45 | 52.82% | 55.17% | -2.35% | Cash Plus Stock |
| CBMG | 18.7 | CBMG management (N/A) | 0.00 | 5.61% | 8.46% | -2.85% | All Cash |
| TAT | 0.2465 | TAT Holdco LLC and TAT Merger Sub LLC (N/A) | 0.00 | -47.26% | -42.09% | -5.17% | All Cash |
| BREW | 16.47 | Anheuser-Busch (N/A) | 0.18% | 5.63% | -5.45% | All Cash | |
| SUNW | 0.84 | The Peck Company Holdings, Inc. (PECK) | 3.35 | -26.15% | -18.44% | -7.71% | All Stock |
Deal Statistics:
| Total Number of Deals Closed in 2020 | 95 |
| Total Number of Deals Not Completed in 2020 | 15 |
| Total Number of Pending Deals | |
| Cash Deals | 30 |
| Stock Deals | 14 |
| Stock & Cash Deals | 4 |
| Special Conditions | 3 |
| Total Number of Pending Deals | 51 |
| Aggregate Deal Consideration | $661.28 billion |
Deal Updates:
Closed Deals:
Terminated Deals:
Top 10 deals with largest spreads:
| Symbol | Announced Date | Acquiring Company | Closing Price | Last Price | Closing Date | Profit | Annualized Profit |
|---|---|---|---|---|---|---|---|
| GNW | 10/23/2016 | China Oceanwide Holdings Group Co., Ltd. (N/A) | $5.43 | $3.2800 | 09/30/2020 | 65.55% | 2392.53% |
| GILT | 01/29/2020 | Comtech Telecommunications Corp. (CMTL) | $8.48 | $5.55 | 10/31/2021 | 52.82% | 47.49% |
| TIF | 11/25/2019 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | $135.00 | $116.26 | 12/31/2020 | 16.12% | 57.68% |
| FIT | 11/01/2019 | Google LLC (GOOG) | $7.35 | $6.37 | 12/31/2020 | 15.38% | 55.05% |
| MXIM | 07/13/2020 | Analog Devices, Inc. (ADI) | $72.39 | $66.14 | 06/30/2021 | 9.45% | 12.19% |
| WLTW | 03/09/2020 | Aon plc (AON) | $217.08 | $205.31 | 06/30/2021 | 5.73% | 7.39% |
| INWK | 07/16/2020 | HH Global Group Limited (N/A) | $3.00 | $2.84 | 12/31/2020 | 5.63% | 20.16% |
| CBMG | 08/12/2020 | CBMG management (N/A) | $19.75 | $18.7 | 12/31/2020 | 5.61% | 20.09% |
| GRUB | 06/10/2020 | Just Eat Takeaway.com N.V. (TKAYY) | $73.04 | $69.25 | 06/30/2021 | 5.47% | 7.06% |
| ONDK | 07/28/2020 | Enova International, Inc. (ENVA) | $1.64 | $1.57 | 12/31/2020 | 4.62% | 16.55% |
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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