Merger Arbitrage Mondays

Merger Arbitrage Mondays – Billtrust To Be Taken Private By EQT Private Equity

Merger Arbitrage Mondays – Billtrust To Be Taken Private By EQT Private Equity

Merger activity increased last week with three new deals announced and four deals completed. BTRS Holdings Inc. (BTRS) Headquartered in Lawrenceville, New Jersey and incorporated in 2001, Billtrust, officially known as BTRS Holdings provides cloud based services and integrated payment processing solutions to B2B companies. These cloud services are used by enterprises to process payments from customers. Solutions offered by the company include credit decisioning and monitoring, online ordering, invoicing, cash ...

Read more

Merger Arbitrage Mondays – Court Denies DOJ’s Request To Block United-Change Deal

Merger Arbitrage Mondays – Court Denies DOJ’s Request To Block United-Change Deal

Given the current market environment, it is not surprising to see deal volume dip sharply with just one new deal announced last week and one completed. In fact, there have only been 7 new deals announced this month compared to 18 last month and 13 new deals in September 2021. If the Fed continues on its current course of interest rate increases, we are likely to see new deal volume ...

Read more

Merger Arbitrage Mondays – STORE Capital To Be Acquired By GIC And Oak Street

Merger Arbitrage Mondays – STORE Capital To Be Acquired By GIC And Oak Street

Merger activity decreased last week with one new deal announced and seven deals completed. STORE Capital Corporation (STOR) Founded in 2011 and headquartered in Scottsdale, Arizona, STORE Capital is an internally managed net-lease REIT that acquires, invests, and manages Single Tenant Operational Real Estate. 80% of the company’s acquisitions are accounted for by companies in sale/leaseback transactions. STORE Capital primarily invests in properties that are subject to long-term NNN Leases. In a ‘triple net lease’, the ...

Read more

Merger Arbitrage Mondays – CVS Health To Acquire Signify Health

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 ...

Read more

Merger Arbitrage Mondays – Novo Nordisk Acquires Forma Therapeutics

Merger Arbitrage Mondays – Novo Nordisk Acquires Forma Therapeutics

Merger activity declined last week with one new deal announced and three deals completed. The pace of M&A activity continued to stay low for the third week in a row, after The Wall Street Journal reported on August 15, 2022, that under Chairwoman Lina Khan, the Federal Trade Commission was questioning mergers that likely would have gone unchallenged in the past years. Ms. Khan said in an interview, “In all too many ...

Read more

Merger Arbitrage Mondays – OpenText Acquires Micro Focus At 99% Premium

Merger Arbitrage Mondays – OpenText Acquires Micro Focus At 99% Premium

Merger activity increased last week with two new deals announced and four deals completed. Micro Focus International (MFGP) Founded in 1976 and headquartered in Newbury, the United Kingdom, Micro Focus International is one of the few remaining technology firms in Britain, listed in London, that is now being acquired by Ontario-based software company OpenText (OTEX). Micro Focus is an enterprise software provider. The company entered into a definitive agreement to be acquired ...

Read more

Merger Arbitrage Mondays – Global Infrastructure Solutions Acquires Hill International

Merger Arbitrage Mondays – Global Infrastructure Solutions Acquires Hill International

Merger activity decreased significantly last week with one new deal announced and six deals completed. Hill International (HIL) Founded in 1976 and headquartered in Philadelphia, Pennsylvania, Hill International is a construction consulting firm, that provides project and construction management. Consulting services provided by the company include cost engineering and estimating, quality assurance, inspection, scheduling, risk management, and claims avoidance services to clients with major construction projects across the world. Hill International went ...

Read more

Merger Arbitrage Mondays – Pfizer To Acquire Global Blood Therapeutics

Merger Arbitrage Mondays – Pfizer To Acquire Global Blood Therapeutics

Merger activity decreased last week with six new deals announced and six deals completed. One of the deals announced last week was a potential deal in the works. Beyond the standard M&A related news, an event that stood out last week was Elon Musk selling an additional $6.89 billion of Tesla (TSLA) stock just in case he was forced to perform on the Twitter (TWTR) deal by the Delaware Chancery ...

Read more

Merger Arbitrage Mondays – Investor Group Led By Apollo Acquires Atlas Air

Merger Arbitrage Mondays – Investor Group Led By Apollo Acquires Atlas Air

Merger activity increased last week with nine new deals announced and two deals completed. Four out of the nine deals announced last week were potential deals in the works. Atlas Air Worldwide Holdings (AAWW) Founded in 1992 and headquartered in Purchase, New York, Atlas Air Worldwide operates a fleet of over 100 all-Boeing planes. The company counts all three of the world’s largest logistics companies FedEx, UPS and DHL among ...

Read more

Merger Arbitrage Mondays – JetBlue Wins Bidding War For Spirit Airlines

Merger Arbitrage Mondays – JetBlue Wins Bidding War For Spirit Airlines

Merger activity increased significantly last week with eight new deals announced, three deals completed and one deal terminated. Four out of the eight deals announced last week were potential deals in the works. The bidding war for Spirit Airlines (SAVE) finally came to an end last week with Spirit terminating its deal with Frontier (ULCC) and agreeing to be acquired by JetBlue (JBLU). We wrote in detail about the bidding ...

Read more