Merger Arbitrage Mondays – November 08, 2010
Merger activity remained steady last week with six new deals announced and three closing. You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
New Deals:
- The acquisition of EXCO Resources (XCO) by the Chairman & CEO of EXCO Resources for $4.4 billion or $20.50 per share in cash. This is a going private transaction and is awaiting board approval. Hence it is not yet included in our table below. Almost every deal that is announced these days is followed by a string of lawsuits or “investigations” by law firms. I found it very interesting that even before the board started considering this offer, a law firm had already launched an investigation into “whether the EXCO Board of Directors breached their fiduciary duties to EXCO stockholders by failing to adequately shop the Company before entering into this transaction”.
- The acquisition of Art Technology Group (ARTG) by Oracle (ORCL) for $1 billion or $6.00 per share in cash
- The acquisition of TechTeam Global (TEAM) by Brazil’s Stefanini International Holdings Ltd for $93.4 million or $8.35 per share in cash
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