Merger activity increased last week with four new deals announced and two deals completed.
M&A activity continues to pick up pace as we come close to the end of the third quarter. We had been tracking two of the four new deals announced last week in our ‘Deals in the Works’ table before they were announced.
The acquisition of Rosetta Stone (RST) by Cambium Learning Group comes at a time when the entire world is moving towards digital learning.
John Hass, Chairman and Chief Executive Officer of Rosetta Stone, said, “This transaction represents the next step on a path that, over the past several years, has transformed our language business and built a previously small K-12 software business into a growing leader in education technology.” This deal values Rosetta at $30, at a premium of about 87.5% to Rosetta Stone’s unaffected closing price on July 16, 2020, when Bloomberg reported that the company was exploring a potential sale. Rosetta had been trading around $16 prior to that report.
You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.
There were no new deals announced in the Deals in the Works section last week.
Weekly Spread Changes:
The table below shows weekly spread changes between August 28, 2020, and September 4, 2020.
Symbol | Quote | Acquiring Company | Acquiring Company Quote | Current Spread | Last Week Spread | Spread Change Weekly | Deal Type |
---|---|---|---|---|---|---|---|
SUNW | 0.5949 | The Peck Company Holdings, Inc. (PECK) | 3.22 | 0.23% | -19.18% | 19.41% | All Stock |
LINX | 6.72 | StoneCo Ltd. (STNE) | 50 | -2.23% | -5.00% | 2.77% | Special Conditions |
CXDC | 1.15 | Faith Dawn Limited and Faith Horizon (N/A) | 4.35% | 1.69% | 2.66% | All Cash | |
TIF | 121.79 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | 96.56 | 10.85% | 8.98% | 1.87% | All Cash |
FIT | 6.33 | Google LLC (GOOG) | 1591.04 | 16.11% | 14.31% | 1.80% | All Cash |
WMGI | 30.45 | Stryker Corporation (SYK) | 197.62 | 0.99% | 1.96% | -0.97% | All Cash |
PFNX | 12.69 | Ligand Pharmaceuticals Incorporated (LGND) | 99.07 | -5.44% | -4.38% | -1.06% | Special Conditions |
DCOM | 13.47 | Bridge Bancorp, Inc. (BDGE) | 20.63 | -0.76% | 0.60% | -1.36% | All Stock |
CETV | 4.35 | PPF Group N.V. (N/A) | 5.29% | 10.10% | -4.81% | All Cash | |
GNW | 3.46 | China Oceanwide Holdings Group Co., Ltd. (N/A) | 56.94% | 129.11% | -72.17% | All Cash |
Deal Statistics:
Total Number of Deals Closed in 2020 | 94 |
Total Number of Deals Not Completed in 2020 | 14 |
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 | $638.59 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 | $4.43 | 09/30/2020 | 150.56% | 2289.83% |
GILT | 01/29/2020 | Comtech Telecommunications Corp. (CMTL) | $8.52 | $5.3 | 10/31/2021 | 60.67% | 52.72% |
GNW | 10/23/2016 | China Oceanwide Holdings Group Co., Ltd. (N/A) | $5.43 | $3.46 | 09/30/2020 | 56.94% | 865.91% |
FIT | 11/01/2019 | Google LLC (GOOG) | $7.35 | $6.33 | 12/31/2020 | 16.11% | 50.70% |
TIF | 11/25/2019 | LVMH Moët Hennessy Louis Vuitton SE (LVMUY) | $135.00 | $121.79 | 12/31/2020 | 10.85% | 34.13% |
MXIM | 07/13/2020 | Analog Devices, Inc. (ADI) | $73.99 | $68.68 | 06/30/2021 | 7.73% | 9.50% |
CBMG | 08/12/2020 | CBMG management (N/A) | $19.75 | $18.5 | 12/31/2020 | 6.76% | 21.26% |
INWK | 07/16/2020 | HH Global Group Limited (N/A) | $3.00 | $2.84 | 12/31/2020 | 5.63% | 17.73% |
BREW | 11/12/2019 | Anheuser-Busch (N/A) | $16.50 | $15.66 | 12/31/2020 | 5.36% | 16.88% |
CETV | 10/27/2019 | PPF Group N.V. (N/A) | $4.58 | $4.35 | 10/27/2020 | 5.29% | 37.84% |
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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