Merger Arbitrage Tool

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Note: Premium members can sort this table by Profit, Annualized Profit and Closing Date.

  Symbol Announced Date Acquiring
Company
Deal
Type
Clo.
Value
Clo.
Price
Last
Price
Volume Optionable Div. Yield Clo.
Date
Profit Annu.
Profit
GNW chart 10/23/2016 China Oceanwide Holdings Group Co., Ltd. (N/A) Cash $2.7 billion $5.43 $2.78 45,263 Yes N/A 07/01/2018 95.32% 476.62%
Genworth Financial, Inc. merger details:

Expected to close in the middle of 2017 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Genworth Financial will receive $5.43 per share in cash.

Update(s)

December 21, 2016: Genworth Financial (GNW) announced that under the HSR Act, the merger with China Oceanwide Holdings Group may not be completed until certain information and materials have been provided by Asia Pacific and Genworth to the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission, and the applicable waiting period under the HSR Act has expired or been terminated. The parties filed the required notifications with the Antitrust Division and the FTC on December 7, 2016 and early termination of the applicable waiting period was granted on December 16, 2016.

January 25, 2017: Genworth Financial (GNW) announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will commence mailing to stockholders of record the definitive proxy materials in connection with the previously announced transaction with China Oceanwide Holdings Group. The special meeting of Genworth stockholders will be held on Tuesday, March 7, 2017.

March 7, 2017: Genworth Financial (GNW) announced that at its stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group.

April 29, 2017: China Oceanwide Holdings Group said that it had refiled its application for U.S. approval of its $2.7 billion acquisition of life insurance company Genworth Financial (GNW), in a bid to add more time to the regulatory review.

July 13, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group reported that they have withdrawn and re-filed their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS) a second time to provide CFIUS more time to review and discuss the proposed transaction between Genworth and Oceanwide.

August 2, 2017: Genworth (GNW) and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.

September 19, 2017: China's Oceanwide Holdings is aiming to close its $2.7 billion acquisition of U.S. insurer Genworth Financial (GNW) by end of this year after securing approval from a U.S. government panel, said an executive of the Chinese firm.

October 2, 2017: A.M. Best commented that the Long-Term Issuer Credit Ratings of “bb-” of Genworth Financial (GNW) and Genworth Holdings as well as their existing Long-Term Issue Credit Ratings will remain under review with negative implications following the announcement that Genworth and China Oceanwide Holdings Group  have withdrawn their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS).

October 4, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the North Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's North Carolina-domiciled insurance companies, including Genworth Mortgage Insurance Corporation, as contemplated under the merger agreement entered into by Genworth and Oceanwide.

October 9, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the South Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's South Carolina-domiciled special purpose financial captive insurance subsidiary, Rivermont Life Insurance Company I, as contemplated under the merger agreement.

November 29, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to a second waiver and agreement of each party’s right to terminate the previously announced merger agreement. The second waiver and agreement extends the previous deadline of Nov. 30, 2017, to April 1, 2018, and allows additional time for regulatory reviews of the transaction.

January 4, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group issued an update on the status of their efforts to obtain clearance of their proposed transaction from CFIUS. There can be no assurances that CFIUS will ultimately agree to clear a transaction between Genworth and Oceanwide on terms acceptable to the parties or at all. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of state-level regulatory approvals that are pending in Delaware and New York, as well as regulatory reviews in China and other international jurisdictions and other closing conditions. 

February 6, 2018: Genworth Financial (GNW) said that its application for assent to a takeover by China Oceanwide Holdings Group had been refiled, after agreeing changes the duo hope will alleviate U.S. regulatory concerns.

March 27, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a fourth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The fourth waiver and agreement extends the previous deadline of April 1, 2018 to July 1, 2018, and allows additional time for regulatory reviews of the transaction.

Genworth and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.Genworth and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.
AKRX chart 04/24/2017 Fresenius Kabi (N/A) Cash $4.75 billion $34.00 $19.18 14,458 Yes N/A 04/30/2018 77.27% 2563.89%
Akorn, Inc. merger details:

Expected to close by early 2018 for a closing value of $4.75 billion. Upon completion of the merger, shareholders of Akorn will receive $34.00 per share in cash.

Update(s)

July 19, 2017: Akorn (AKRX) announced that its shareholders, at a special meeting, have overwhelmingly voted to approve the previously announced merger agreement providing for the acquisition of Akorn by Fresenius Kabi.

February 27, 2018: According to Reuters, German healthcare group Fresenius SE has raised doubts about its planned acquisition of Akorn (AKRX) because of a probe into data integrity at the U.S. maker of liquid generic drugs.

March 31, 2018: In Akorn's (AKRX) 10K filed on February 28, 2018, it is mentioned that the merger may not be completed in a timely manner or at all. Since the deal did not close as scheduled on March 31, 2018, we have extended the closing date for this deal to April 30, 2018.

RAD chart 02/18/2018 Albertsons Companies, Inc. (N/A) Special Conditions $5.98 billion $2.50 $1.66 6,486,733 Yes N/A 09/30/2018 51.06% 113.63%
Rite Aid Corporation merger details:

Expected to close early in the second half of calendar year 2018 for a closing value of $5.98 billion. Under the terms of the agreement, Ride Aid shareholders would receive 0.10 of Parent common stock plus either (i) an amount in cash equal to $0.1832 per share or (ii) 0.0079 share of the Parent common stock. Using these options we have calculated that one share of the combined company is estimated to be worth $23.16. Hence each Rite Aid share is worth an estimated $2.499.

Update(s)

March 29, 2018: Rite Aid Corporation (RAD) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, in connection with its previously announced merger with Albertsons Companies expired on March 28, 2018.

April 6, 2018: Albertsons Companies filed to withdraw its plan for an initial public offering, because of its deal to merge with Rite Aid (RAD).

April 13, 2018: According to The Wall Street Journal, some Rite Aid (RAD) shareholders plan to oppose a merger with grocer Albertsons that they believe undervalues the struggling pharmacy chain.

ROSG chart 03/05/2018 Genoptix, Inc. (N/A) Cash $2.35 million $0.43 $0.35 1 N/A N/A 06/30/2018 22.86% 115.87%
Rosetta Genomics Ltd. merger details:

Expected to close in the second quarter of 2018 for a closing value of $2.35 million. Upon completion of the merger, shareholders of Rosetta Genomics will receive 0.425 per share in cash.

Update(s)

April 10, 2018: Rosetta Genomics (ROSG) announced that Kenneth Berlin will resign as President and CEO effective April 18, 2018 to pursue other opportunities.

April 17, 2018: Rosetta Genomics (ROSG) announced that the extraordinary general meeting of shareholders that was summoned for April 17, 2018, has been adjourned to Thursday, April 26, 2018 in order to provide additional time for the solicitation of votes in favor of the proposed merger of the Company with a subsidiary of Genoptix.

ESRX chart 03/08/2018 Cigna Corporation (CI) Cash Plus Stock $67 billion $91.21 $74.33 50,748 Yes N/A 12/31/2018 22.71% 32.39%
Express Scripts Holding Company merger details:

Expected to close by December 31, 2018 for a closing value of $67 billion in a cash plus stock deal. Under the terms of the definitive agreement, the transaction consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share.

SCG chart 01/03/2018 Dominion Energy, Inc. (D) Stock $14.6 billion $44.16 $36.26 133,333 Yes 6.76% 12/31/2018 21.79% 31.07%
SCANA Corporation merger details:

Expected to close in 2018 for a closing value of $14.6 billion in an all stock deal. Under the terms of the agreement, SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock.

Update(s)

February 1, 2018: Dominion Energy (D), and SCANA Corporation (SCG) announced that their proposed combination has cleared a key condition needed for completion. The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the combination.

March 21, 2018: The Georgia Public Service Commission unanimously approved the merger of Dominion Energy (D), and SCANA Corporation (SCG).

Note: Premium members can sort this table by Symbol, Profit, Annualized Profit and Closing Date. Desktop Version

  Symbol Clo. Date Profit Annu. Profit
GNW chart 07/01/2018 95.32% 476.62%
Genworth Financial, Inc. merger details:

Expected to close in the middle of 2017 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Genworth Financial will receive $5.43 per share in cash.

Update(s)

December 21, 2016: Genworth Financial (GNW) announced that under the HSR Act, the merger with China Oceanwide Holdings Group may not be completed until certain information and materials have been provided by Asia Pacific and Genworth to the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission, and the applicable waiting period under the HSR Act has expired or been terminated. The parties filed the required notifications with the Antitrust Division and the FTC on December 7, 2016 and early termination of the applicable waiting period was granted on December 16, 2016.

January 25, 2017: Genworth Financial (GNW) announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and will commence mailing to stockholders of record the definitive proxy materials in connection with the previously announced transaction with China Oceanwide Holdings Group. The special meeting of Genworth stockholders will be held on Tuesday, March 7, 2017.

March 7, 2017: Genworth Financial (GNW) announced that at its stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group.

April 29, 2017: China Oceanwide Holdings Group said that it had refiled its application for U.S. approval of its $2.7 billion acquisition of life insurance company Genworth Financial (GNW), in a bid to add more time to the regulatory review.

July 13, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group reported that they have withdrawn and re-filed their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS) a second time to provide CFIUS more time to review and discuss the proposed transaction between Genworth and Oceanwide.

August 2, 2017: Genworth (GNW) and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.

September 19, 2017: China's Oceanwide Holdings is aiming to close its $2.7 billion acquisition of U.S. insurer Genworth Financial (GNW) by end of this year after securing approval from a U.S. government panel, said an executive of the Chinese firm.

October 2, 2017: A.M. Best commented that the Long-Term Issuer Credit Ratings of “bb-” of Genworth Financial (GNW) and Genworth Holdings as well as their existing Long-Term Issue Credit Ratings will remain under review with negative implications following the announcement that Genworth and China Oceanwide Holdings Group  have withdrawn their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS).

October 4, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the North Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's North Carolina-domiciled insurance companies, including Genworth Mortgage Insurance Corporation, as contemplated under the merger agreement entered into by Genworth and Oceanwide.

October 9, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the South Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's South Carolina-domiciled special purpose financial captive insurance subsidiary, Rivermont Life Insurance Company I, as contemplated under the merger agreement.

November 29, 2017: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to a second waiver and agreement of each party’s right to terminate the previously announced merger agreement. The second waiver and agreement extends the previous deadline of Nov. 30, 2017, to April 1, 2018, and allows additional time for regulatory reviews of the transaction.

January 4, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group issued an update on the status of their efforts to obtain clearance of their proposed transaction from CFIUS. There can be no assurances that CFIUS will ultimately agree to clear a transaction between Genworth and Oceanwide on terms acceptable to the parties or at all. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of state-level regulatory approvals that are pending in Delaware and New York, as well as regulatory reviews in China and other international jurisdictions and other closing conditions. 

February 6, 2018: Genworth Financial (GNW) said that its application for assent to a takeover by China Oceanwide Holdings Group had been refiled, after agreeing changes the duo hope will alleviate U.S. regulatory concerns.

March 27, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a fourth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The fourth waiver and agreement extends the previous deadline of April 1, 2018 to July 1, 2018, and allows additional time for regulatory reviews of the transaction.

Genworth and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.Genworth and Oceanwide continue to work diligently to satisfy the closing conditions under their previously announced proposed transaction and are committed to closing the transaction as soon as possible. In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Because the timing of the regulatory reviews will delay the completion of the transaction beyond the originally targeted time frame of the middle of 2017, Genworth and Oceanwide have agreed in principle to extend the August 31, 2017, deadline set forth in the merger agreement to November 30, 2017.
AKRX chart 04/30/2018 77.27% 2563.89%
Akorn, Inc. merger details:

Expected to close by early 2018 for a closing value of $4.75 billion. Upon completion of the merger, shareholders of Akorn will receive $34.00 per share in cash.

Update(s)

July 19, 2017: Akorn (AKRX) announced that its shareholders, at a special meeting, have overwhelmingly voted to approve the previously announced merger agreement providing for the acquisition of Akorn by Fresenius Kabi.

February 27, 2018: According to Reuters, German healthcare group Fresenius SE has raised doubts about its planned acquisition of Akorn (AKRX) because of a probe into data integrity at the U.S. maker of liquid generic drugs.

March 31, 2018: In Akorn's (AKRX) 10K filed on February 28, 2018, it is mentioned that the merger may not be completed in a timely manner or at all. Since the deal did not close as scheduled on March 31, 2018, we have extended the closing date for this deal to April 30, 2018.

RAD chart 09/30/2018 51.06% 113.63%
Rite Aid Corporation merger details:

Expected to close early in the second half of calendar year 2018 for a closing value of $5.98 billion. Under the terms of the agreement, Ride Aid shareholders would receive 0.10 of Parent common stock plus either (i) an amount in cash equal to $0.1832 per share or (ii) 0.0079 share of the Parent common stock. Using these options we have calculated that one share of the combined company is estimated to be worth $23.16. Hence each Rite Aid share is worth an estimated $2.499.

Update(s)

March 29, 2018: Rite Aid Corporation (RAD) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, in connection with its previously announced merger with Albertsons Companies expired on March 28, 2018.

April 6, 2018: Albertsons Companies filed to withdraw its plan for an initial public offering, because of its deal to merge with Rite Aid (RAD).

April 13, 2018: According to The Wall Street Journal, some Rite Aid (RAD) shareholders plan to oppose a merger with grocer Albertsons that they believe undervalues the struggling pharmacy chain.

ROSG chart 06/30/2018 22.86% 115.87%
Rosetta Genomics Ltd. merger details:

Expected to close in the second quarter of 2018 for a closing value of $2.35 million. Upon completion of the merger, shareholders of Rosetta Genomics will receive 0.425 per share in cash.

Update(s)

April 10, 2018: Rosetta Genomics (ROSG) announced that Kenneth Berlin will resign as President and CEO effective April 18, 2018 to pursue other opportunities.

April 17, 2018: Rosetta Genomics (ROSG) announced that the extraordinary general meeting of shareholders that was summoned for April 17, 2018, has been adjourned to Thursday, April 26, 2018 in order to provide additional time for the solicitation of votes in favor of the proposed merger of the Company with a subsidiary of Genoptix.

ESRX chart 12/31/2018 22.71% 32.39%
Express Scripts Holding Company merger details:

Expected to close by December 31, 2018 for a closing value of $67 billion in a cash plus stock deal. Under the terms of the definitive agreement, the transaction consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share.

SCG chart 12/31/2018 21.79% 31.07%
SCANA Corporation merger details:

Expected to close in 2018 for a closing value of $14.6 billion in an all stock deal. Under the terms of the agreement, SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock.

Update(s)

February 1, 2018: Dominion Energy (D), and SCANA Corporation (SCG) announced that their proposed combination has cleared a key condition needed for completion. The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the combination.

March 21, 2018: The Georgia Public Service Commission unanimously approved the merger of Dominion Energy (D), and SCANA Corporation (SCG).

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