Merger Arbitrage Tool

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  Symbol Announced Date Acquiring
Company
Deal
Type
Clo.
Value
Clo.
Price
Last
Price
Volume Optionable Div. Yield Clo.
Date
Profit Annu.
Profit
CDOR chart 07/22/2019 NexPoint Hospitality Trust (N/A) Cash $318 million $11.10 $4.11 6,009 N/A 18.98% 09/30/2020 170.07% 721.82%

The following funds have a position in Condor Hospitality Trust, Inc.:
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. Gardner Lewis Asset Management L P

Condor Hospitality Trust, Inc. merger details:

Expected to close in the fourth quarter of 2019 for a closing value of $318 million. Upon completion of the merger, shareholders of Condor Hospitality Trust will receive $11.10 per share in cash.

Merger Agreement

Condor Hospitality Trust, Inc. Investor Relations

Update(s)

July 26, 2019: NexPoint Hospitality Trust announced that the special meeting of stockholders of the company in connection with the previously announced acquisition of Condor Hospitality Trust (CDOR) will be held on August 30, 2019.

September 23, 2019: Condor Hospitality Trust (CDOR) announced that its shareholders approved the proposed acquisition by merger of Condor by NHT Operating Partnership.

December 17, 2019: Condor Hospitality Trust (CDOR) and NexPoint Hospitality Trust have agreed to close the Merger on January 31, 2020, subject to the satisfaction or waiver of certain remaining closing conditions.

January 31, 2020: Condor Hospitality Trust (CDOR) provided an update on the previously announced acquisition by merger of the Company by NexPoint Hospitality Trust. NHT and the Company have agreed to extend the closing of the Merger to February 28, 2020, subject to further possible extension to March 16, 2020 and the satisfaction or waiver of certain remaining closing date conditions.

March 16, 2020: NexPoint said that Condor Hospitality Trust (CDOR) has accepted its request for an extension of time to close the deal from March 16, 2020 to March 23, 2020.

March 24, 2020: Condor Hospitality Trust (CDOR) provided an update on the previously announced acquisition by merger of the Company by NexPoint Hospitality Trust. Closing of the acquisition did not occur on March 23, 2020, as extended to such date at the request of NHT pursuant to a previously announced amendment to the merger agreement. The Company is in discussions with NHT concerning the closing of the acquisition, and the Company is also reviewing its options and reserves all rights under the merger agreement. We have extended the closing date for this deal to June 30, 2020.

May 14, 2020: The Company Parties and the NHT Parties are in discussions concerning potential amendments to restructure the transaction, which will be disclosed if and when such amendments are agreed.  There can be no assurance with respect to the outcome of such discussions, and the Company continues reviewing its options and reserves all rights and remedies under the Merger Agreement. There can be no assurances that the acquisition of the Company will be completed.

June 30, 2020: Since the deal has not yet been completed, we are extending the closing date for this deal to September 30, 2020.

GNW chart 10/23/2016 China Oceanwide Holdings Group Co., Ltd. (N/A) Cash $2.7 billion $5.43 $2.28 8,271,855 Yes N/A 09/30/2020 138.16% 586.37%

The following funds have a position in Genworth Financial, Inc.:
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. Harvest Management LLC
4. Pentwater Capital Management LP
5. TIG Advisors, LLC

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.

Merger Agreement

Genworth Financial, Inc. Investor Relations

China Oceanwide Holdings Group Co., Ltd. Investor Relations

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.

April 24, 2018: 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) to provide CFIUS additional time to review and discuss the proposed transaction between Genworth and Oceanwide.

June 9, 2018: China Oceanwide Holdings Group and Genworth Financial (GNW) announced that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of their proposed transaction and concluded that there are no unresolved national security concerns with respect to the proposed transaction. The closing of the transaction remains subject to other conditions, including the receipt of required regulatory approvals in the U.S., China and other international jurisdictions. 

June 28, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a fifth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The fifth waiver and agreement extends the previous deadline of July 1, 2018 to August 15, 2018 to allow additional time for continued regulatory review of the transaction.

August 14, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to a sixth waiver and agreement of each party's right to terminate the previously announced merger agreement. The sixth waiver and agreement extends the previous deadline of August 15, 2018 to December 1, 2018 to allow additional time to complete the regulatory review process.

September 13, 2018: Genworth Financial (GNW) announced it will hold its 2018 Annual Meeting of Stockholders on December 13, 2018, if its proposed merger with China Oceanwide Holdings Group has not yet been completed. On September 14, 2018, Genworth Financial and China Oceanwide Holdings Group announced that they are submitting supplemental information to the regulators who are reviewing their proposed transaction.

October 26, 2018: The Delaware Department of Insurance (DDI) announced it has scheduled a public hearing on November 28, 2018 on the proposed acquisition of control of Delaware-domiciled Genworth Life Insurance Company by entities affiliated with China Oceanwide Holdings Group in connection with the merger of Oceanwide and Genworth Financial (GNW).

November 30, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group entered into a Seventh Waiver and Agreement pursuant to which they agreed to extend the End Date to January 31, 2019.

December 21, 2108: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Delaware Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's Delaware-domiciled insurance company. In addition, Fannie Mae and Freddie Mac have approved Oceanwide's control of Genworth Mortgage Insurance Corporation. Approval from regulators in Australia and New Zealand was also recently received for the proposed transaction.

January 11, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Virginia State Corporation Commission, Bureau of Insurance, reapproved the proposed acquisition of control by Oceanwide of Genworth's Virginia-domiciled insurance companies, Genworth Life and Annuity Insurance Company and Jamestown Life Insurance Company, as contemplated under the merger agreement. 

January 13, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the New York State Department of Financial Services has approved the proposed acquisition of control of New York-domiciled Genworth Life Insurance Company of New York by entities affiliated with Oceanwide in connection with the merger of Oceanwide and Genworth.

January 30, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to an eighth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The eighth waiver and agreement extends the previous deadline of January 31, 2019 to March 15, 2019.

March 14, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a ninth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The ninth waiver and agreement extends the previous deadline of March 15, 2019 to April 30, 2019 in consideration of pending regulatory reviews.

April 29, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a tenth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The tenth waiver and agreement extends the previous deadline of April 30, 2019 to June 30, 2019 in consideration of pending regulatory reviews.

July 1, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a tenth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The tenth waiver and agreement extends the previous deadline of June 30, 2019 to November 30, 2019 in consideration of pending regulatory reviews.

July 25, 2019: Genworth (GNW) has taken the first steps in the sale process of at least the majority of its holding in Genworth MI Canada (MIC CN) which will obviate the requirement to get Canadian regulatory clearance for its own acquistion by China Oceanwide.

August 13, 2019: Genworth Financial (GNW) and Brookfield Business Partners (BBU) announced an agreement for Brookfield Business Partners to purchase Genworth’s majority interest in Genworth MI Canada. In connection with Oceanwide’s consent to the Transaction, Genworth and Oceanwide entered into the 12th Waiver and Agreement extending the merger agreement deadline to not later than December 31, 2019.

October 22, 2019: Genworth Financial (GNW) announced it received feedback from Canadian regulators with respect to the transaction pursuant to which Brookfield Business Partners has agreed to purchase Genworth's majority interest in Genworth MI Canada. Discussions with the Canadian regulators with respect to the acquisition of Genworth by China Oceanwide Holdings Group were focused on national security matters, including data protection and the safeguarding of our customers' information.

December 9, 2019: Genworth Financial (GNW) and Brookfield Business Partners (BBU) announced that Brookfield Business Partners together with its institutional partners has received approval under the Insurance Companies Act (Canada) to purchase Genworth's majority interest in Genworth MI Canada.  With the receipt of this approval, all regulatory approvals required for the completion of this transaction have now been obtained.  The parties expect to complete the Genworth Canada transaction on December 12, 2019.

December 12, 2019: Genworth Financial (GNW) announced the closing of the sale of its majority stake in Genworth MI Canada to Brookfield Business Partners (BBU).

December 23, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a 13th waiver and agreement of each party’s right to terminate the previously announced merger agreement. The 13th waiver and agreement extends the previous deadline of December 31, 2019 to no later than March 31, 2020.

March 2, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed in principle with the New York State Department of Financial Services (NYDFS) on conditions that are expected to facilitate a reapproval by the NYDFS of the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY). Genworth and Oceanwide are targeting closing the transaction on or about March 31, 2020.

March 16, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that Oceanwide has submitted supplemental materials to the New York State Department of Financial Services (NYDFS) and other U.S. insurance regulators to document the conditions that are expected to facilitate a reapproval by the NYDFS of the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY).  

March 24, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the New York State Department of Financial Services (NYDFS) has reapproved the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY).

March 31, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Virginia State Corporation Commission, Bureau of Insurance has reapproved the proposed acquisition of control by Oceanwide of Genworth's insurance companies domiciled in Virginia. In addition, Genworth and Oceanwide have agreed to a 14th waiver and agreement of each party's right to terminate the previously announced merger agreement. The 14th waiver extends the previous deadline of March 31, 2020 to no later than June 30, 2020. 

June 30, 2020: Genworth Financial (GNW) announced that it is moving forward with plans to address its near-term liabilities and financial obligations, and maximize shareholder value while China Oceanwide Holdings Group finalizes its funding plan for the acquisition of Genworth. Genworth and Oceanwide also announced that they have agreed to a 15th waiver and agreement of each party’s right to terminate the previously announced merger agreement. The 15th waiver extends the previous deadline of June 30, 2020 to no later than September 30, 2020.

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.
FSCT chart 02/06/2020 Advent International (N/A) Cash $1.9 billion $33.00 $21.57 1,083,789 Yes N/A 07/31/2020 52.99% 773.66%

The following funds have a position in Forescout Technologies, Inc.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P
3. Glazer Capital, LLC
4. Harvest Management LLC
5. Omni Partners LLP
6. P Schoenfeld Asset Management LP
7. Pentwater Capital Management LP
8. Sand Grove Capital Management LLP
9. TIG Advisors, LLC

Forescout Technologies, Inc. merger details:

Expected to close in the second calendar quarter of 2020 for a closing value of $1.9 billion. Upon completion of the merger, shareholders of Forescout Technologies will receive $33.00 per share in cash.

Merger Agreement

Forescout Technologies, Inc. Investor Relations

Update(s)

February 24, 2020: The Federal Trade Commission (FTC) granted early termination of the required waiting period under the Hart-Scott-Rodino Act with respect to the acquisition of Forescout Technologies (FSCT) by Advent International.

March 8, 2020: Forescout Technologies (FSCT) announced the expiration of the 30-day “go-shop” period under the terms of the merger agreement among Forescout and Advent International.

April 24, 2020: Forescout Technologies (FSCT) announced that its shareholders have approved the proposed transaction with Advent International. Forescout continues to expect the transaction to close in the second calendar quarter of 2020 following the completion of a customary debt “marketing period” by Advent.

May 18, 2020: Advent International provided notice to Forescout (FSCT) that it would not be proceeding to consummate the acquisition of Forescout on May 18, 2020, as scheduled. Forescout and Advent are engaged in ongoing discussions regarding timing to close and the terms of the transaction. There can be no assurance that Forescout and Advent will be able to reach agreement on terms.

May 20, 2020: Forescout Technologies (FSCT) filed a complaint with the Delaware Court of Chancery asserting that affiliates of Advent International Corporation have violated the terms of their merger agreement with Forescout. Forescout is asking the Court to compel Advent to honor its commitments and immediately complete the pending acquisition of Forescout.

June 30, 2020: Since the merger has not yet been completed, we have extended the closing date for this deal to July 31, 2020.

GILT chart 01/29/2020 Comtech Telecommunications Corp. (CMTL) Cash Plus Stock $532.5 million $8.53 $6.30 204,249 Yes N/A 10/31/2021 35.42% 26.82%

The following funds have a position in Gilat Satellite Networks Ltd.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P
3. Glazer Capital, LLC
4. UBS O'Connor LLC

Gilat Satellite Networks Ltd. merger details:

Expected to close late in Comtech’s fiscal year 2020 or the first part of its fiscal 2021 for a closing value of $532.5 million in a cash plus stock deal. Under the terms of the agreement, Gilat shareholders will receive total consideration of $10.25 per share, comprised of $7.18 per share in cash and 0.08425 of a share of Comtech common stock for each share of Gilat held.

 

Gilat Satellite Networks Ltd. Investor Relations
Comtech Telecommunications Corp. Investor Relations

Gilat Satellite Networks Ltd. Investor Relations

Comtech Telecommunications Corp. Investor Relations

CETV chart 10/27/2019 PPF Group N.V. (N/A) Cash $2.1 billion $4.58 $3.74 431,377 Yes N/A 09/30/2020 22.46% 95.32%

The following funds have a position in Central European Media Enterprises Ltd.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P

Central European Media Enterprises Ltd. merger details:

Expected to close in the third quarter of 2020 for a closing value of $2.1 billion. Upon completion of the merger, shareholders of Central European Media Enterprises will receive $4.58 per share in cash.

Central European Media Enterprises Ltd. Investor Relations

February 27, 2020: Shareholders of Central European Media Enterprises (CETV) approved the acquisition of the company by Czech investment group PPF, although a U.S. senator has asked authorities to review the deal.

FIT chart 11/01/2019 Google LLC (GOOG) Cash $2.1 billion $7.35 $6.29 3,056,847 Yes N/A 09/30/2020 16.85% 71.52%

The following funds have a position in Fitbit, Inc. :
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. JET Capital Investors L P
4. Magnetar Financial LLC
5. Omni Partners LLP
6. Pentwater Capital Management LP
7. TIG Advisors, LLC

Fitbit, Inc. merger details:

Expected to close in 2020 for a closing value of $2.1 billion. Upon completion of the merger, shareholders of Fitbit will receive $7.35 per share in cash.

Merger Agreement

Fitbit, Inc. Investor Relations
Alphabet Inc. Investor Relations

Fitbit, Inc. Investor Relations

Alphabet Inc. Investor Relations

Update(s)

December 10, 2019: According to Reuters, the U.S. Justice Department will review plans by Alphabet owned (GOOGL) Google to buy fitness tracker maker Fitbit (FIT) for possible antitrust issues.

January 6, 2020: Shareholders of Fitbit (FIT) approved the company’s merger with Google LLC at a special meeting of shareholders.

June 18, 2020: According to Reuters, Australia's antitrust regulator warned Google's (GOOG) planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT) may give it too much of people's data, potentially hurting competition in health and online advertising markets.

June 30, 2020: Since the deal has not been completed yet, we are extending the closing date for this deal to September 30, 2020.

July 2, 2020: According to Reuters, EU regulators are checking whether Google's (GOOG) purchase of Fitbit (FIT) might allow it to drive rival makers of wearable devices, app developers and other online service providers out of the market, and boost its dominance in online advertising and search.

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

  Symbol Clo. Date Profit Annu. Profit
CDOR chart 09/30/2020 170.07% 721.82%

The following funds have a position in Condor Hospitality Trust, Inc.:
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. Gardner Lewis Asset Management L P

Condor Hospitality Trust, Inc. merger details:

Expected to close in the fourth quarter of 2019 for a closing value of $318 million. Upon completion of the merger, shareholders of Condor Hospitality Trust will receive $11.10 per share in cash.

Merger Agreement

Condor Hospitality Trust, Inc. Investor Relations

Update(s)

July 26, 2019: NexPoint Hospitality Trust announced that the special meeting of stockholders of the company in connection with the previously announced acquisition of Condor Hospitality Trust (CDOR) will be held on August 30, 2019.

September 23, 2019: Condor Hospitality Trust (CDOR) announced that its shareholders approved the proposed acquisition by merger of Condor by NHT Operating Partnership.

December 17, 2019: Condor Hospitality Trust (CDOR) and NexPoint Hospitality Trust have agreed to close the Merger on January 31, 2020, subject to the satisfaction or waiver of certain remaining closing conditions.

January 31, 2020: Condor Hospitality Trust (CDOR) provided an update on the previously announced acquisition by merger of the Company by NexPoint Hospitality Trust. NHT and the Company have agreed to extend the closing of the Merger to February 28, 2020, subject to further possible extension to March 16, 2020 and the satisfaction or waiver of certain remaining closing date conditions.

March 16, 2020: NexPoint said that Condor Hospitality Trust (CDOR) has accepted its request for an extension of time to close the deal from March 16, 2020 to March 23, 2020.

March 24, 2020: Condor Hospitality Trust (CDOR) provided an update on the previously announced acquisition by merger of the Company by NexPoint Hospitality Trust. Closing of the acquisition did not occur on March 23, 2020, as extended to such date at the request of NHT pursuant to a previously announced amendment to the merger agreement. The Company is in discussions with NHT concerning the closing of the acquisition, and the Company is also reviewing its options and reserves all rights under the merger agreement. We have extended the closing date for this deal to June 30, 2020.

May 14, 2020: The Company Parties and the NHT Parties are in discussions concerning potential amendments to restructure the transaction, which will be disclosed if and when such amendments are agreed.  There can be no assurance with respect to the outcome of such discussions, and the Company continues reviewing its options and reserves all rights and remedies under the Merger Agreement. There can be no assurances that the acquisition of the Company will be completed.

June 30, 2020: Since the deal has not yet been completed, we are extending the closing date for this deal to September 30, 2020.

GNW chart 09/30/2020 138.16% 586.37%

The following funds have a position in Genworth Financial, Inc.:
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. Harvest Management LLC
4. Pentwater Capital Management LP
5. TIG Advisors, LLC

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.

Merger Agreement

Genworth Financial, Inc. Investor Relations

China Oceanwide Holdings Group Co., Ltd. Investor Relations

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.

April 24, 2018: 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) to provide CFIUS additional time to review and discuss the proposed transaction between Genworth and Oceanwide.

June 9, 2018: China Oceanwide Holdings Group and Genworth Financial (GNW) announced that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of their proposed transaction and concluded that there are no unresolved national security concerns with respect to the proposed transaction. The closing of the transaction remains subject to other conditions, including the receipt of required regulatory approvals in the U.S., China and other international jurisdictions. 

June 28, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a fifth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The fifth waiver and agreement extends the previous deadline of July 1, 2018 to August 15, 2018 to allow additional time for continued regulatory review of the transaction.

August 14, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to a sixth waiver and agreement of each party's right to terminate the previously announced merger agreement. The sixth waiver and agreement extends the previous deadline of August 15, 2018 to December 1, 2018 to allow additional time to complete the regulatory review process.

September 13, 2018: Genworth Financial (GNW) announced it will hold its 2018 Annual Meeting of Stockholders on December 13, 2018, if its proposed merger with China Oceanwide Holdings Group has not yet been completed. On September 14, 2018, Genworth Financial and China Oceanwide Holdings Group announced that they are submitting supplemental information to the regulators who are reviewing their proposed transaction.

October 26, 2018: The Delaware Department of Insurance (DDI) announced it has scheduled a public hearing on November 28, 2018 on the proposed acquisition of control of Delaware-domiciled Genworth Life Insurance Company by entities affiliated with China Oceanwide Holdings Group in connection with the merger of Oceanwide and Genworth Financial (GNW).

November 30, 2018: Genworth Financial (GNW) and China Oceanwide Holdings Group entered into a Seventh Waiver and Agreement pursuant to which they agreed to extend the End Date to January 31, 2019.

December 21, 2108: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Delaware Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth's Delaware-domiciled insurance company. In addition, Fannie Mae and Freddie Mac have approved Oceanwide's control of Genworth Mortgage Insurance Corporation. Approval from regulators in Australia and New Zealand was also recently received for the proposed transaction.

January 11, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Virginia State Corporation Commission, Bureau of Insurance, reapproved the proposed acquisition of control by Oceanwide of Genworth's Virginia-domiciled insurance companies, Genworth Life and Annuity Insurance Company and Jamestown Life Insurance Company, as contemplated under the merger agreement. 

January 13, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the New York State Department of Financial Services has approved the proposed acquisition of control of New York-domiciled Genworth Life Insurance Company of New York by entities affiliated with Oceanwide in connection with the merger of Oceanwide and Genworth.

January 30, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed to an eighth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The eighth waiver and agreement extends the previous deadline of January 31, 2019 to March 15, 2019.

March 14, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a ninth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The ninth waiver and agreement extends the previous deadline of March 15, 2019 to April 30, 2019 in consideration of pending regulatory reviews.

April 29, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a tenth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The tenth waiver and agreement extends the previous deadline of April 30, 2019 to June 30, 2019 in consideration of pending regulatory reviews.

July 1, 2019: Genworth Financial (GNW) and China Oceanwide Holdings announced that they have agreed to a tenth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The tenth waiver and agreement extends the previous deadline of June 30, 2019 to November 30, 2019 in consideration of pending regulatory reviews.

July 25, 2019: Genworth (GNW) has taken the first steps in the sale process of at least the majority of its holding in Genworth MI Canada (MIC CN) which will obviate the requirement to get Canadian regulatory clearance for its own acquistion by China Oceanwide.

August 13, 2019: Genworth Financial (GNW) and Brookfield Business Partners (BBU) announced an agreement for Brookfield Business Partners to purchase Genworth’s majority interest in Genworth MI Canada. In connection with Oceanwide’s consent to the Transaction, Genworth and Oceanwide entered into the 12th Waiver and Agreement extending the merger agreement deadline to not later than December 31, 2019.

October 22, 2019: Genworth Financial (GNW) announced it received feedback from Canadian regulators with respect to the transaction pursuant to which Brookfield Business Partners has agreed to purchase Genworth's majority interest in Genworth MI Canada. Discussions with the Canadian regulators with respect to the acquisition of Genworth by China Oceanwide Holdings Group were focused on national security matters, including data protection and the safeguarding of our customers' information.

December 9, 2019: Genworth Financial (GNW) and Brookfield Business Partners (BBU) announced that Brookfield Business Partners together with its institutional partners has received approval under the Insurance Companies Act (Canada) to purchase Genworth's majority interest in Genworth MI Canada.  With the receipt of this approval, all regulatory approvals required for the completion of this transaction have now been obtained.  The parties expect to complete the Genworth Canada transaction on December 12, 2019.

December 12, 2019: Genworth Financial (GNW) announced the closing of the sale of its majority stake in Genworth MI Canada to Brookfield Business Partners (BBU).

December 23, 2019: Genworth Financial (GNW) and China Oceanwide Holdings Group announced they have agreed to a 13th waiver and agreement of each party’s right to terminate the previously announced merger agreement. The 13th waiver and agreement extends the previous deadline of December 31, 2019 to no later than March 31, 2020.

March 2, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that they have agreed in principle with the New York State Department of Financial Services (NYDFS) on conditions that are expected to facilitate a reapproval by the NYDFS of the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY). Genworth and Oceanwide are targeting closing the transaction on or about March 31, 2020.

March 16, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that Oceanwide has submitted supplemental materials to the New York State Department of Financial Services (NYDFS) and other U.S. insurance regulators to document the conditions that are expected to facilitate a reapproval by the NYDFS of the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY).  

March 24, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the New York State Department of Financial Services (NYDFS) has reapproved the proposed acquisition of control by Oceanwide of Genworth's New York-domiciled insurance company, Genworth Life Insurance Company of New York (GLICNY).

March 31, 2020: Genworth Financial (GNW) and China Oceanwide Holdings Group announced that the Virginia State Corporation Commission, Bureau of Insurance has reapproved the proposed acquisition of control by Oceanwide of Genworth's insurance companies domiciled in Virginia. In addition, Genworth and Oceanwide have agreed to a 14th waiver and agreement of each party's right to terminate the previously announced merger agreement. The 14th waiver extends the previous deadline of March 31, 2020 to no later than June 30, 2020. 

June 30, 2020: Genworth Financial (GNW) announced that it is moving forward with plans to address its near-term liabilities and financial obligations, and maximize shareholder value while China Oceanwide Holdings Group finalizes its funding plan for the acquisition of Genworth. Genworth and Oceanwide also announced that they have agreed to a 15th waiver and agreement of each party’s right to terminate the previously announced merger agreement. The 15th waiver extends the previous deadline of June 30, 2020 to no later than September 30, 2020.

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.
FSCT chart 07/31/2020 52.99% 773.66%

The following funds have a position in Forescout Technologies, Inc.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P
3. Glazer Capital, LLC
4. Harvest Management LLC
5. Omni Partners LLP
6. P Schoenfeld Asset Management LP
7. Pentwater Capital Management LP
8. Sand Grove Capital Management LLP
9. TIG Advisors, LLC

Forescout Technologies, Inc. merger details:

Expected to close in the second calendar quarter of 2020 for a closing value of $1.9 billion. Upon completion of the merger, shareholders of Forescout Technologies will receive $33.00 per share in cash.

Merger Agreement

Forescout Technologies, Inc. Investor Relations

Update(s)

February 24, 2020: The Federal Trade Commission (FTC) granted early termination of the required waiting period under the Hart-Scott-Rodino Act with respect to the acquisition of Forescout Technologies (FSCT) by Advent International.

March 8, 2020: Forescout Technologies (FSCT) announced the expiration of the 30-day “go-shop” period under the terms of the merger agreement among Forescout and Advent International.

April 24, 2020: Forescout Technologies (FSCT) announced that its shareholders have approved the proposed transaction with Advent International. Forescout continues to expect the transaction to close in the second calendar quarter of 2020 following the completion of a customary debt “marketing period” by Advent.

May 18, 2020: Advent International provided notice to Forescout (FSCT) that it would not be proceeding to consummate the acquisition of Forescout on May 18, 2020, as scheduled. Forescout and Advent are engaged in ongoing discussions regarding timing to close and the terms of the transaction. There can be no assurance that Forescout and Advent will be able to reach agreement on terms.

May 20, 2020: Forescout Technologies (FSCT) filed a complaint with the Delaware Court of Chancery asserting that affiliates of Advent International Corporation have violated the terms of their merger agreement with Forescout. Forescout is asking the Court to compel Advent to honor its commitments and immediately complete the pending acquisition of Forescout.

June 30, 2020: Since the merger has not yet been completed, we have extended the closing date for this deal to July 31, 2020.

GILT chart 10/31/2021 35.42% 26.82%

The following funds have a position in Gilat Satellite Networks Ltd.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P
3. Glazer Capital, LLC
4. UBS O'Connor LLC

Gilat Satellite Networks Ltd. merger details:

Expected to close late in Comtech’s fiscal year 2020 or the first part of its fiscal 2021 for a closing value of $532.5 million in a cash plus stock deal. Under the terms of the agreement, Gilat shareholders will receive total consideration of $10.25 per share, comprised of $7.18 per share in cash and 0.08425 of a share of Comtech common stock for each share of Gilat held.

 

Gilat Satellite Networks Ltd. Investor Relations
Comtech Telecommunications Corp. Investor Relations

Gilat Satellite Networks Ltd. Investor Relations

Comtech Telecommunications Corp. Investor Relations

CETV chart 09/30/2020 22.46% 95.32%

The following funds have a position in Central European Media Enterprises Ltd.:
1. Gabelli Funds LLC
2. Gardner Lewis Asset Management L P

Central European Media Enterprises Ltd. merger details:

Expected to close in the third quarter of 2020 for a closing value of $2.1 billion. Upon completion of the merger, shareholders of Central European Media Enterprises will receive $4.58 per share in cash.

Central European Media Enterprises Ltd. Investor Relations

February 27, 2020: Shareholders of Central European Media Enterprises (CETV) approved the acquisition of the company by Czech investment group PPF, although a U.S. senator has asked authorities to review the deal.

FIT chart 09/30/2020 16.85% 71.52%

The following funds have a position in Fitbit, Inc. :
1. Alpine Global Management, LLC
2. Gabelli Funds LLC
3. JET Capital Investors L P
4. Magnetar Financial LLC
5. Omni Partners LLP
6. Pentwater Capital Management LP
7. TIG Advisors, LLC

Fitbit, Inc. merger details:

Expected to close in 2020 for a closing value of $2.1 billion. Upon completion of the merger, shareholders of Fitbit will receive $7.35 per share in cash.

Merger Agreement

Fitbit, Inc. Investor Relations
Alphabet Inc. Investor Relations

Fitbit, Inc. Investor Relations

Alphabet Inc. Investor Relations

Update(s)

December 10, 2019: According to Reuters, the U.S. Justice Department will review plans by Alphabet owned (GOOGL) Google to buy fitness tracker maker Fitbit (FIT) for possible antitrust issues.

January 6, 2020: Shareholders of Fitbit (FIT) approved the company’s merger with Google LLC at a special meeting of shareholders.

June 18, 2020: According to Reuters, Australia's antitrust regulator warned Google's (GOOG) planned $2.1 billion acquisition of fitness tracker maker Fitbit (FIT) may give it too much of people's data, potentially hurting competition in health and online advertising markets.

June 30, 2020: Since the deal has not been completed yet, we are extending the closing date for this deal to September 30, 2020.

July 2, 2020: According to Reuters, EU regulators are checking whether Google's (GOOG) purchase of Fitbit (FIT) might allow it to drive rival makers of wearable devices, app developers and other online service providers out of the market, and boost its dominance in online advertising and search.

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