Merger activity increased last week with five new deals announced and five deals completed. There have been nineteen deals and eighteen SPAC business combinations announced in the month of August.
Two of the five deals announced last week were successful “deals in the works”. Founded in 1995 and headquartered in Dallas, Texas, Santander Consumer USA Holdings (SC) provides vehicle finance and third-party servicing in the United States. On July 2, 2021, SC received a non-binding proposal from its majority shareholder, Santander Holdings USA (“SHUSA”), to acquire all of the outstanding common shares of SC that are not currently owned by SHUSA. The price of SC after this announcement came out was $40.34, representing a premium of 11.3% to SC’s closing price on the previous day. On August 24, 2021, Santander Consumer USA Holdings (SC) entered into a definitive agreement to be taken private by SHUSA for $41.50 per share in cash representing a total equity value of $12.7 billion and a premium of 14% to SCs closing price on July 1, 2021.
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.
SPAC Arbitrage
There were 3 SPAC IPOs filed and 3 new SPAC business combinations announced last week. You can find the new SPAC IPO announcements in our SPACs tool here.