Merger activity decreased last week with two new deals announced and five deals completed.
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.
There were 18 SPAC IPOs filed and 1 new SPAC business combination announced last week. You can find the new SPAC IPO announcements in our SPACs tool here.
- Trump Media & Technology Group and Digital World Acquisition (DWAC) have entered into a definitive merger agreement, providing for a business combination that will result in Trump Media & Technology Group becoming a publicly listed company.
Weekly Spread Changes:
The table below shows weekly spread changes between October 15 and October 22, 2021.
|JOBS||63.98||Garnet Faith Limited (N/A)||0.00||23.55%||15.76%||7.79%||All Cash|
|CADE||21.48||BancorpSouth Bank (BXS)||30.71||5.90%||0.34%||5.56%||Cash Plus Stock|
|XLNX||172.59||Advanced Micro Devices, Inc. (AMD)||119.82||19.65%||15.60%||4.05%||All Stock|
|TEDU||1.06||Kidedu Holdings Limited (N/A)||277.36%||273.83%||3.53%||All Cash|
|RIVE||13.124||Mid Penn Bancorp, Inc. (MPB)||28.09||3.44%||1.22%||2.22%||All Stock|
|FVCB||20.6||Blue Ridge Bankshares, Inc. (BRBS)||18.16||1.31%||4.66%||-3.35%||All Stock|
|CHNG||21.2||UnitedHealth Group Incorporated (UNH)||449.16||21.46%||24.82%||-3.36%||All Cash|
|MSON||25.78||Bioventus Inc. (BVS)||15.28||8.61%||12.49%||-3.88%||Special Conditions|
|MX||17.97||South Dearborn Limited (N/A)||61.38%||65.81%||-4.43%||All Cash|
|KDMN||9.405||Sanofi (SNY)||49.92||1.01%||8.82%||-7.81%||All Cash|
|Total Number of Deals Closed in 2021||154|
|Total Number of Deals Not Completed in 2021||12|
|Total Number of Pending Deals|
|Stock & Cash Deals||8|
|Total Number of Pending Deals||89|
|Total Deal Size||$921.51 billion|
- The acquisition of TriState Capital Holdings (TSC) by Raymond James Financial (RJF) for $1.1 billion in a cash plus stock deal. Under the terms of the agreement, TriState Capital common stockholders will receive $6.00 cash and 0.25 Raymond James shares for each share of TriState Capital common stock.
- The acquisition of FTS International (FTSI) by ProFrac Holdings for $407.5 million or $26.52 per share in cash.
- October 19, 2021: According to Reuters, IHS Markit (INFO) and S&P Global (SPGI) will offer remedies to quell the UK competition regulator’s concerns that the $44 billion merger between the companies could curb competition in the country.
- On October 19, 2021, Kite Realty Group Trust (KRG) and Retail Properties of America (RPAI) announced that their stockholders approved all of the proposals necessary for the closing of the previously announced merger.
- On October 20, 2021, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), expired in connection with the previously announced proposed merger between Kadmon Holdings (KDMN) and Sanofi (SNY).
- On October 20, 2021, Santander Holdings USA announced that it has extended the expiration date of its previously announced tender offer to acquire all outstanding shares of common stock of Santander Consumer USA Holdings (SC) to November 2, 2021.
- October 21, 2021: According to Bloomberg, Bristol-Myers Squibb (BMY) is planning to tender its shares in Acceleron Pharma (XLRN) after Merck (MRK) agreed to buy the biotechnology company.
- On October 21, 2021, Rogers announced that John A. MacDonald has assumed the role of Chairman of the Board of Directors of Rogers Communications (RCI) after Edward Rogers was moved from the role.
- On October 21, 2021, M&T Bank Corporation (MTB) announced that it has received approval from the New York State Department of Financial Services and the Connecticut Department of Banking to complete the merger of M&T Bank with People’s United Bank (PBCT).
- On October 21, 2021, Sanderson Farms (SAFM) announced that its stockholders approved the previously announced agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms for $203 per share in cash.
- On October 22, 2021, S&P Global (SPGI) and IHS Markit (INFO) announced that they have received a conditional Phase 1 approval for their $44 billion merger from the European Commission (EC), marking another significant step toward the combination of these highly complementary companies.
- On October 22, 2021, Shore Bancshares (SHBI) and Severn Bancorp (SVBI) announced that, Shore’s shareholders approved the merger of Severn with and into Shore.
- On October 22, 2021, Realty Income Corporation (O) and VEREIT (VER) announced that they anticipate closing their previously announced merger on November 1, 2021.
- The acquisition of Select Bancorp (SLCT) by First Bancorp (FBNC) on October 18, 2021. It took 139 days for this deal to be completed.
- The acquisition of Pacific Mercantile Bancorp (PMBC) by Banc of California (BANC) on October 19, 2021. It took 210 days for this deal to be completed.
- The acquisition of Score Media and Gaming (SCR) by Penn National Gaming (PENN) on October 19, 2021. It took 75 days for this deal to be completed.
- The acquisition of Select Interior Concepts (SIC) by Sun Capital Partners on October 21, 2021. It took 73 days for this deal to be completed.
- The acquisition of Retail Properties of America (RPAI) by Kite Realty Group Trust (KRG) on October 22, 2021. It took 98 days for this deal to be completed.
Top 10 deals with largest spreads:
|TEDU||04/30/2021||Kidedu Holdings Limited (N/A)||$4.00||$1.06||12/31/2021||277.36%||1510.98%|
|MX||03/26/2021||South Dearborn Limited (N/A)||$29.00||$17.97||12/31/2021||61.38%||334.38%|
|JOBS||06/21/2021||Garnet Faith Limited (N/A)||$79.05||$63.98||12/31/2021||23.55%||128.32%|
|CHNG||01/06/2021||UnitedHealth Group Incorporated (UNH)||$25.75||$21.2||12/31/2021||21.46%||116.92%|
|XLNX||10/27/2020||Advanced Micro Devices, Inc. (AMD)||$206.50||$172.59||12/31/2021||19.65%||107.03%|
|XONE||08/11/2021||Desktop Metal, Inc. (DM)||$25.50||$22.08||12/31/2021||15.49%||84.38%|
|AJRD||12/20/2020||Lockheed Martin Corporation (LMT)||$51.00||$44.33||12/31/2021||15.05%||81.97%|
|SJR||03/15/2021||Rogers Communications Inc. (RCI)||$32.40||$28.78||06/30/2022||12.58%||18.51%|
|SOLY||05/10/2021||Allergan Aesthetics (N/A)||$22.60||$20.67||12/31/2021||9.34%||50.87%|
|MSON||07/29/2021||Bioventus Inc. (BVS)||$28.00||$25.78||12/31/2021||8.61%||46.91%|
List of all pending deals:
List of all pending deals:
Disclaimer: I have long positions in Nuance Communications (NUAN), Change Healthcare (CHNG) and Trillium Therapeutics (TRIL). I also have put options in Change Healthcare. 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.