Merger Arbitrage Mondays – March 2, 2015
Merger activity increased last week with seven new deals announced and two deals closing.
You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
New Deals:
- The acquisition of Home Loan Servicing Solutions (HLSS) by New Residential Investment (NRZ) for $1.3 billion or $18.25 per share in cash.
- The acquisition of Polypore International (PPO) by Asahi Kasei Corporation for $3.2 billion or $60.50 per share in cash. As an integrated step in this transaction, immediately prior to Asahi Kasei’s acquisition of Polypore, 3M Company (MMM) will acquire the assets of Polypore’s Separations Media segment for approximately $1.0 billion and Asahi Kasei will receive the cash proceeds from the asset sale.
- The acquisition of Oneida Financial (ONFC) by Community Bank System (CBU) for $142 million in a cash or stock deal. Under the terms of the agreement, shareholders of Oneida Financial Corp can elect to receive either 0.5635 shares of Community Bank System, Inc. common stock or $20.00 in cash for each share of Oneida Financial Corp. common stock they hold, subject to an overall 60% stock and 40% cash split. We are treating this as an all stock deal.
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