Merger Arbitrage Mondays – CVS Health To Acquire Signify Health

Merger activity increased last week with four new deals announced and one deal completed.

Signify Health (SGFY) is a healthcare platform that combines analytics, technology, and healthcare provider networks across the nation to create value-based payment programs. The company was founded in 2017 and is headquartered in Dallas, Texas.

We added Signify Health (SGFY) as a potential deal in the works on August 2, 2022, when The Wall Street Journal reported that the company was working with bankers to explore strategic alternatives including a sale. Amazon (AMZN) was among the bidders for Siginify. On September 2, 2022, Reuters reported that CVS Health Corp (CVS) was in advanced talks to buy Signify Health for about $8 billion. On September 5, 2022, CVS Health entered into an agreement to acquire Signify Health for $30.50 per share in cash, representing a total transaction value of approximately $8 billion.

You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) which automatically updates itself during market hours.

Deal Statistics:

New Deals:

1. The acquisition of Signify Health (SGFY) by CVS Health Corporation (CVS) for $8 billion or $30.50 per share in cash. Deal is expected to close in the first half of 2023. We added SGFY as a potential deal to the Deals in the Works section on August 2, 2022 and the price after the news of the potential deal came out was $18.31.
2. The acquisition of Turquoise Hill Resources (TRQ) by Rio Tinto (RIO) for $5.63 billion. Rio Tinto will acquire the approximately 49% of common shares of Turquoise Hill that it does not currently own for C$43 per share in cash or USD$32.73. Deal is expected to close in the fourth quarter of 2022. We added TRQ as a potential deal to the Deals in the Works section on March 14, 2022 and the price after the news of the potential deal came out was $26.55.
3. The acquisition of ChannelAdvisor Corporation (ECOM) by CommerceHub for $596.19 million or $23.10 per share in cash. Deal is expected to close in 2022.

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