Merger activity moderated again last week with three new deals announced and three active deals completed. We had been tracking two of the three new deals announced as “potential deals in the works”.
On August 18, 2020, Acorn International (ATV) announced that it had received a preliminary non-bidding proposal from the Executive Chairman of the company. This “potential deal” became successful on October 12, 2020, when First Ostia Port announced the acquisition of Acorn in a going private transaction. The deal was at a premium of over 42% of the closing price on August 18, 2020, when the potential deal was announced.
Similarly, DouYu International (DOYU) had announced the receipt of a preliminary non bidding proposal on August 10, 2020. This potential deal also came to fruition last week when DouYu and HUYA (HUYA) announced their stock-for-stock merger.
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.