The activity on the Merger and Acquisition front increased again last week with three new deals being announced and four deals closing.
The new deals announced include the acquisition of Wainwright Bank & Trust Company (WAIN) by Eastern Bank for $19 per share in cash, the acquisition of Abraxis (ABII) by Celgene (CELG) in a cash plus stock deal where shareholders of Abraxis will receive $58 and 0.2617 shares of Celgene for each Abraxis share they own, and the acquisition of Argon ST (STST) by Boeing (BA) for $34.50 per share in cash.
The deals that closed include
the acquisition of Symyx Technolgies (SMMX) by Accelrys (ACCL) on June 30, 2010, the acquisition of Thomas Weisel Partners Group (TWPG) by Stifel Financial (SF) on June 30, 2010, the acquisition of Infogroup (IUSA) by affiliates of CCMP Capital Advisors on July 01, 2010 and the acquisition of HealthTronics (HTRN) by Endo Pharmaceuticals (ENDP) on July 02, 2010.While the injunction on the Portec Rail Products (PRPX) acquisition by L. B. Foster (FSTR) was lifted, the DOJ investigation is ongoing and hence we have updated the closing date for that deal to 8/31/2010.
| Symbol | Announced Date | Acquiring Company | Closing Value | Closing Price | Last Price | Closing Date | Profit | Annu. Profit |
|---|---|---|---|---|---|---|---|---|
| ATBC | 05/10/2010 | Jacksonville Bancorp (JAXB) | N/A | $2.83 | $2.10 | 09/30/2010 | 34.76% | 145.84% |
| Details of Atlantic BancGroup Inc Expected to close in the third quarter of 2010. If the merger is completed, Atlantic BancGroup shareholders will receive 0.2 shares of Jacksonville Bancorp common stock for each share of Atlantic BancGroup common stock held, plus up to approximately $0.65 per share in cash, subject to the qualifying sale of certain Atlantic BancGroup assets. | ||||||||
| WX | 04/26/2010 | Charles River Laboratories (CRL) | $1.6 billion | $20.25 | $15.85 | 12/31/2010 | 27.76% | 56.60% |
| Details of Wuxi Pharmatech (Cayman) Inc. A Expected to close by the end of the year for a closing values of $1.6bn. It is a cash and stock transaction in which WuXi PharmaTech ADS holders will receive $11.25 in cash and $10.00 of Charles River common stock determined by an exchange ratio. This exchange ratio will be determined by dividing $10.00 by the weighted average Charles River common stock closing price as reported on the New York Stock Exchange for the 20-day trading period ending on the second business day prior to closing (Charles River Average Price). However, if the Charles River Average Price is equal to or greater than $43.1726, then the exchange ratio will be fixed at 0.2316, and if the Charles River Average Price is equal to or less than $37.1486, then the exchange ratio will be fixed at 0.2692. | ||||||||
| AYE | 02/11/2010 | FirstEnergy (FE) | $8.5 billion | $23.08 | $20.14 | 03/31/2011 | 14.59% | 19.80% |
| Details of Allegheny Energy, Inc. Common S Expected to close by March 31, 2011 for a closing value $8.5bn. It is a stock based transaction @ 0.667 share of FE | ||||||||
| SSE | 02/23/2010 | Naugatuck Valley Financial Corp (NVSL) | $19.5 million | $7.25 | $6.45 | 08/16/2010 | 12.40% | 107.79% |
| Details of Southern Connecticut Bancorp In Expected to close by the third calendar quarter of 2010, for a closing value of $19.5mn @ $7.25/share. The Cash/stock election is subject to proration | ||||||||
| EMMS | 05/25/2010 | JS Acquisition and Alden Global Capital (N/A) | $3 billion | $2.40 | $2.20 | 09/30/2010 | 9.09% | 38.14% |
| Details of Emmis Communications Corporatio Expected to close in the third quarter of 2010 for a closing value of over $3bn. On the completion of the merger, Emmis Communications shareholders will receive $2.40 per share in cash. | ||||||||
| BGH | 06/11/2010 | Buckeye Partners LP (BPL) | $1.14 billion | $41.03 | $38.20 | 12/31/2010 | 7.41% | 15.11% |
| Details of Buckeye GP Holdings Expected to close in the fourth quarter of 2010 for a closing value of $1.14 billion. Under the deal, for each Buckeye GP unit, holders will get 0.705 Buckeye Partners units. | ||||||||
| ECLP | 06/09/2010 | Allscripts-Misys Healthcare (MDRX) | $1.3 billion | $18.92 | $17.69 | 11/15/2010 | 6.98% | 19.14% |
| Details of Eclipsys Corporation Expected to close in the next four or six months from June 2010 for a closing value of $1.3 billion. On the completion of the merger, Eclipsys shareholders will receive 1.2 shares of Allscripts. | ||||||||
| DIVX | 06/02/2010 | Sonic Solutions (SNIC) | $323 million | $7.72 | $7.26 | 09/30/2010 | 6.38% | 26.77% |
| Details of DivX Expected to close by the third quarter of 2010 for a cosing value of $323mn. On the completion of the merger, DivX shareholders will receive $3.75 in cash and 0.514 shares of Sonic Solutions common stock for each share of DivX they hold. | ||||||||
| EFJI | 05/17/2010 | Francisco Partners (N/A) | N/A | $1.50 | $1.42 | 09/30/2010 | 5.63% | 23.64% |
| Details of EFJohnson Technologies, Inc Expected to close by the third quarter of 2010. On the completion of the merger, EF Johnson Technologies shareholders will receive $1.05 per share in cash. The deal was amended on June 21, 2010 and the acquisition price increased by 42% to $1.50. | ||||||||
| Q | 04/22/2010 | Century Link (CTL) | $10.6 billion | $5.52 | $5.24 | 04/21/2011 | 5.27% | 6.63% |
| Details of Qwest Communications Internatio Expected to close in the first half of 2011for a value of $10.6bn. Under the terms of the agreement, Qwest shareholders will receive 0.1664 CenturyLink shares for each share of Qwest common stock they own at closing. | ||||||||
| PINN | 02/24/2010 | Investor Group lead by Scotia Waterous (USA) (N/A) | $11 million | $0.34 | $0.3235 | 08/21/2010 | 5.10% | 39.61% |
| Details of Pinnacle Gas Resources, Inc. Expected to close by the second quarter of 2010 for a closing value of $11mn. It is a cash deal @ $0.34 per share | ||||||||
| ALOY | 06/24/2010 | ZelnickMedia (N/A) | $126.5 million | $9.80 | $9.38 | 12/31/2010 | 4.48% | 9.13% |
| Details of Alloy Expected to close in the fourth quarter of 2010 for a closing value of $126.5 million. On the completion of the merger, shareholders of Alloy Inc. will receive $9.80 per share in cash. | ||||||||
| TTIL | 06/09/2010 | Teoco Corp. (N/A) | $58 million | $3.00 | $2.88 | 09/30/2010 | 4.17% | 17.48% |
| Details of TTI Telecom Expected to close in the third quarter of 2010 for a closing value of $58 million. On the completion of the merger, TTIL shareholders will receive $3 per share in cash. | ||||||||
| SWWC | 03/03/2010 | Institutional Investors (N/A) | $275 million | $11.00 | $10.60 | 03/31/2011 | 3.77% | 5.12% |
| Details of Southwest Water Company Expected to close by 3/31/2011 for a closing value of $275 million. It is a cash deal @ $11.00 per share | ||||||||
| TSFG | 05/17/2010 | TD Bank Financial Group (N/A) | $61 million | $0.28 | $0.27 | 09/30/2010 | 3.70% | 15.54% |
| Details of The South Financial Group Inc. Expected to close by the third quarter of 2010 for a closing value of $61mn. On the completion of the merger, The South Financial Group shareholders will receive either $0.28 in cash or 0.004 shares of TD Bank Financial Group common stock per The South Financial Group common share held. | ||||||||
| PRPX | 02/17/2010 | L.B. Foster Co. (FSTR) | $112 million | $11.71 | $11.36 | 08/31/2010 | 3.08% | 19.73% |
| Details of Portec Rail Products, Inc. Expected to close by the end of June 2010 for a closing value of $112mn. The cash deal is @ $11.71 per share | ||||||||
| GLG | 05/17/2010 | Man Group (N/A) | $1.6 billion | $4.50 | $4.37 | 09/30/2010 | 2.97% | 12.48% |
| Details of GLG Partners Inc Common Stock Expected to close by the third quarter of 2010 for a closing value of approximately $1.6bn. On the completion of the merger, GLG Partners shareholders will receive $4.50 per share in cash. | ||||||||
| PSYS | 05/17/2010 | Universal Health (N/A) | $3.1 billion | $33.75 | $32.79 | 12/31/2010 | 2.93% | 5.97% |
| Details of Psychiatric Solutions, Inc. Expected to close by the fourth quarter of 2010 for a closing value of $3.1bn. On the completion of the merger, Psychiatric Solutions shareholders will receive $33.75 per share in cash. | ||||||||
| WAIN | 06/29/2010 | Eastern Bank (N/A) | $163 million | $19.00 | $18.47 | 12/31/2010 | 2.87% | 5.85% |
| Details of Wainwright Bank & Trust Expected to close in the fourth quarter of 2010 for a closing value of $163 million. On the completion of the merger, Eastern Bank will pay $19 in cash for each share of Wainwright Bank. | ||||||||
| VETS | 06/02/2010 | VCA Antech Inc (WOOF) | $41.25 million | $0.34 | $0.331 | 09/30/2010 | 2.72% | 11.41% |
| Details of PET DRx Corp Expected to close by the third quarter of 2010 for a closing value of $41.25mn. On the completion of the mergerPet DRx shareholders are expected to receive $0.34 – $0.36 per share in cash. | ||||||||
| ME | 04/15/2010 | Apache (APA) | $2.7 billion | $21.92 | $21.36 | 09/30/2010 | 2.62% | 11.00% |
| Details of Mariner Energy, Inc. Mariner En Expected to close by the third quarter of 2010 for a value of $2.7bn. Under the cash and stock deal, Mariner stockholders will receive cash of $7.80 and 0.17043 of a share of Apache common stock in exchange for each share of Mariner common stock. | ||||||||
| BNE | 02/24/2010 | RR Donnelley (RRD) | $481 million | $11.50 | $11.22 | 09/30/2010 | 2.50% | 10.47% |
| Details of Bowne & Co., Inc. Common Stock Expected to close by the second half of 2010 for a closing value of $481mn. It is a cash deal @ $11.50 per share | ||||||||
| ODSY | 05/24/2010 | Gentiva Health Services (GTIV) | $1.0 billion | $27.00 | $26.37 | 09/30/2010 | 2.39% | 10.02% |
| Details of Odyssey Healthcare, Inc. Expected to close in the third quarter of 2010 for a closing value of $1.0bn. On the completion of the merger, Odyssey HealthCare shareholders will receive $27.00 per share in cash. | ||||||||
| SII | 02/19/2010 | Schlumberger (SLB) | $7.5 billion | $38.29 | $37.52 | 09/30/2010 | 2.04% | 8.56% |
| Details of Smith International, Inc. Commo Expected to close by the second half of 2010. It is a stock-for-stock merger @ 0.6966 shares of SLB / $42.96 per SII share | ||||||||
| ORCD | 03/16/2010 | eMusic (N/A) | $12.77 million | $2.05 | $2.01 | 08/16/2010 | 1.99% | 17.29% |
| Details of The Orchard Enterprises, Inc Expected to close by the third quarter of 2010 for $12.7 million @ $2.05 per share. | ||||||||
| CYBS | 04/21/2010 | Visa Inc. (V) | $2.0 billion | $26.00 | $25.52 | 09/30/2010 | 1.88% | 7.89% |
| Details of CyberSource Corporation Expected to close in Visa’s Fourth Fiscal Quarter ending in September for a closing value of $2bn. The closing price for the cash deal is at a price of $26.00 per share. | ||||||||
| PMACA | 06/10/2010 | Old Republic International (ORI) | $228 million | $6.62 | $6.50 | 09/30/2010 | 1.88% | 7.87% |
| Details of PMA Capital Expected to close in the third quarter of 2010 for a closing value of $228 million. As part of the agreement, Old Republic will issue 0.55 shares of its common stock in exchange for each outstanding common share of PMA. | ||||||||
| PFWD | 04/16/2010 | Oracle Corp. (ORCL) | $685 million | $17.00 | $16.70 | 06/30/2010 | 1.80% | 0.00% |
| Details of Phase Forward Incorporated Expected to close in the middle of the year 2010 for a value of $685mn. Oracle is paying $17 per share in cash. | ||||||||
| IDC | 05/04/2010 | Silver Lake & Warburg Pincus (N/A) | $3.4 billion | $33.86 | $33.31 | 09/30/20101.65% | 6.93% | |
| Details of Interactive Data Corporation Co Expected to close by the third quarter of 2010 for a cosing value of $3.4bn. According to the deal, Interactive Data shareholders will receive $33.86 per share in cash. | ||||||||
| MAM | 03/12/2010 | Emera Inc (N/A) | $75.7 million | $45.00 | $44.30 | 12/31/2010 | 1.58% | 3.22% |
| Details of Maine & Maritimes Corporation C Expected to close by the end of 2010 for a closing value of $75.7 million. The cash deal is @ $45 per share | ||||||||
| OMNI | 06/04/2010 | Wellspring Capital Management (N/A) | $122 million | $2.75 | $2.71 | 11/15/2010 | 1.48% | 4.05% |
| Details of OMNI Energy Services Corp. Expected to close in the second half of 2010 for a closing value of $122mn. On the completion of the merger OMNI Energy Services shareholders will receive $2.75 per share in cash. | ||||||||
| BSMD | 05/13/2010 | Merit Medical Systems (MMSI) | $96 million | $4.38 | $4.32 | 09/30/2010 | 1.39% | 5.83% |
| Details of BioSphere Medical, Inc. Expected to close in the third quarter of 2010 for a closing value of $96mn.If the merger is completed, BioSphere Medical shareholders will receive $4.38 per share in cash. | ||||||||
| VTIV | 05/06/2010 | Thomas H. Lee Partners (N/A) | $1.1 billion | $26.00 | $25.65 | 09/30/2010 | 1.36% | 5.72% |
| Details of inVentiv Health, Inc. Expected to close by the third quarter of 2010 for a closing value of approx $1.1bn. Under the terms of the agreement, which has been approved by inVentiv’s board of directors, inVentiv shareholders will receive $26.00 in cash for each share of VTIV common stock they hold. | ||||||||
| WEL | 04/09/2010 | Halliburton Company (HAL) | $240 million | $3.00 | $2.96 | 09/30/2010 | 1.35% | 5.67% |
| Details of Boots and Coots, Inc. Common St Expected to close in the summer of 2010 for a value of $240mn. The $3 cash & stock deal consists of $1.73 in cash and $1.27 in Halliburton stock. | ||||||||
| ATSI | 04/29/2010 | Medtronic (MDT) | $350 million | $4.00 | $3.96 | 09/30/2010 | 1.01% | 4.24% |
| Details of ATS Medical, Inc. Expected to close by September 30 for a value of $350mn. Medtronic is offering ATS Medical $4 per share | ||||||||
| VIRL | 06/10/2010 | Synopsys (SNPS) | $315 million | $12.00 | $11.88 | 12/31/2010 | 1.01% | 2.06% |
| Details of Virage Logic Corp Expected to close in the fourth quarter of 2010 for a closing value of $315 million. The deal values Virage at $12 per share. | ||||||||
| RCNI | 03/05/2010 | ABRY Partners (N/A) | $536 million | $15.00 | $14.86 | 09/30/2010 | 0.94% | 3.95% |
| Details of RCN Corp. Expected to close by the Second half 2010 for a closing value of $536mn. It is a cash deal @ $15.00 per share | ||||||||
| STBK | 03/18/2010 | Roma Financial Corp (ROMA) | $14.7 million | $2.52 | $2.5001 | 08/16/2010 | 0.80% | 6.92% |
| Details of Sterling Banks, Inc. Expected to close in the third quarter of 2010 for a closing value of $14.7 million. The cash deal is @ $2.52 per share | ||||||||
| MDNU | 06/11/2010 | Danone (N/A) | $62.3 million | $4.00 | $3.969 | 09/30/2010 | 0.78% | 3.28% |
| Details of Medical Nutrition USA Expected to close in the third quarter of 2010 for a closing value of $62.3 million. On the completion of the merger, shareholders of Medical Nutrition USA will receive $4 per share in cash. | ||||||||
| RBI | 03/15/2010 | affiliate of Oncap Management Partners L.P. (N/A) | $13.55 | $13.45 | 08/16/2010 | 0.74% | 6.46% | |
| Details of Sport Supply Group, Inc Expected to close in the second or third quarter of 2010. ONCAP has the unilateral option to terminate the merger agreement by paying to Sport Supply Group a termination fee of either $6,000,000 or $10,000,000, depending on whether financing is available to ONCAP. It is a cash deal @ $13.55 | ||||||||
| NADX | 04/05/2010 | GDC Holdings Inc. (N/A) | $100 million | $17.00 | $16.88 | 09/30/2010 | 0.71% | 2.98% |
| Details of National Dentex Corporation Expected to close at the end of the quarter ending June 30 for a value of $100mn. The deal is @ $17.00 per share in cash. | ||||||||
| STST | 06/30/2010 | Boeing (BA) | $775 million | $34.50 | $34.27 | 09/30/2010 | 0.67% | 2.82% |
| Details of Argon ST Expected to close by the end of the second quarter for a closing value of $755 million.On the completion of the merger, stockholders of Argon ST will receive $34.50 per share in cash. | ||||||||
| GNA | 06/02/2010 | Gerdau (GGB) | $1.7 billion | $11.00 | $10.94 | 08/31/2010 | 0.55% | 3.51% |
| Details of Gerdau Ameristeel Corporation Expected to close by August 31, 2010 for a closing value of $1.7 billion. On the completion of the merger Gerdau Ameristeel shareholders will receive $11.00 per share in cash. | ||||||||
| CPII | 05/10/2010 | Comtech (CMTL) | $472.3 million | $15.46 | $15.38 | 09/30/2010 | 0.52% | 2.17% |
| Details of CPI International, Inc. Expected to close in the third quarter of 2010 for a closing alue of $472.3mn. If the merger is completed, CPI International shareholders will receive a combination of $9.00 in cash plus a fraction of Comtech common stock equal to $8.10 divided by the average closing price of Comtech common stock over a specified period of time prior to closing, provided that the fraction shall not be greater than 0.2382 nor less than 0.2132. | ||||||||
| QUOT | 06/11/2010 | LQ Acquisition (N/A) | $19 million | $4.00 | $3.98 | 09/30/2010 | 0.50% | 2.11% |
| Details of Life Quotes Expected to close in the third quarter of 2010 for a closing value of $19 million. On the completion of the merger Life Quotes shareholders will receive $4.00 per share in cash. | ||||||||
| VRAD | 05/17/2010 | Providence Equity (N/A) | $294 million | $17.25 | $17.17 | 09/30/2010 | 0.47% | 1.95% |
| Details of Virtual Radiologic Corporation Expected to close by the third quarter of 2010 for a closing value of $294mn. On the completion of the merger, Virtual Radiologic shareholders will receive $17.25 per share in cash. | ||||||||
| SY | 05/12/2010 | SAP (SAP) | $5.8 billion | $65.00 | $64.70 | 09/30/2010 | 0.46% | 1.95% |
| Details of Sybase, Inc. Common Stock Expected to close in the third quarter of 2010 for a closing value of $5.8bn. If the merger is completed, Sybase shareholders will receive $65.00 per share in cash. | ||||||||
| MIR | 04/12/2010 | RRI Energy In. (RRI) | $1.6 billion | $10.69 | $10.64 | 12/31/2010 | 0.45% | 0.92% |
| Details of Mirant Corp Common Stock Expected to close by the end of the year 2010 for a value of $1.6bn. Mirant Corp. will combine with RRI Energy Inc. in a stock-deal to form GenOn Energy. Mirant stockholders will get about 2.84 RRI common shares for each Mirant share they own. | ||||||||
| EVVV | 06/01/2010 | Covidien plc (COV) | $2.6 billion | $22.50 | $22.41 | 07/31/2010 | 0.40% | 5.64% |
| Details of ev3 Expected to close by July 31, 2010 for a closing value of $2.6bn. Covidien will pay $22.50 in cash for each ev3 share. | ||||||||
| SBP | 06/24/2010 | ABLASA (N/A) | N/A | $12.69 | $12.64 | 07/22/2010 | 0.40% | 8.49% |
| Details of Santander Bancorp Expected to close by July 22, 2010 unless extended. On the completion of the merger Santander BanCorp shareholders will receive $12.69 per share in cash. | ||||||||
| DBTK | 05/17/2010 | Vision Solutions (N/A) | $242 million | $10.55 | $10.51 | 09/30/2010 | 0.38% | 1.60% |
| Details of Double-Take Software, Inc. Expected to close by the third quarter of 2010 for a closing value of $242mn. On the completion of the merger, Double-Take Software shareholders will receive $10.55 per share in cash. | ||||||||
| MIL | 03/01/2010 | Merck (MRK) | $6 billion | $107.00 | $106.63 | 09/30/2010 | 0.35% | 1.46% |
| Details of Millipore Corporation Common St Expected to close by the second half of 2010 for a closing value of $6bn. It is a cash deal @ $107 per share | ||||||||
| WMZ | 05/24/2010 | Williams Partners L.P. (WPZ) | $31.75 | $31.64 | 09/30/2010 | 0.34% | 1.41% | |
| Details of Williams Pipeline Partners LP C Expected to close in the third quarter of 2010. On the completion of the merger, Williams Pipeline Partners shareholders will receive 0.7584 shares of Williams Partners common stock per share held. | ||||||||
| SMTS | 06/16/2010 | Covidien (COV) | $299 million | $25.00 | $24.93 | 07/31/2010 | 0.28% | 3.94% |
| Details of Somanetics Corp. Expected to close on July 21, 2010 for a closing value of $299 million. On the completion of the merger Somanetics shareholders will receive $25 per share in cash. | ||||||||
| AIPC | 06/21/2010 | Ralcorp Holdings (RAH) | $1.2 billion | $53.00 | $52.87 | 09/30/2010 | 0.25% | 1.03% |
| Details of American Italian Pasta Expected to close during Ralcorp Holding's fourth fiscal quarter ending Sept. 30 for a closing value of $1.2 billion. On the completion of the merger, Ralcorp Holdings will pay shareholders of American Italian Pasta $53 per share in cash | ||||||||
| DCP | 04/12/2010 | Cerberus Capital Management (N/A) | $1.5 billion | $17.55 | $17.51 | 11/15/2010 | 0.23% | 0.63% |
| Details of Dyncorp International Inc. Dync Expected to close in the third or fourth quarter of 2010 for a value of $1.5bn. DynCorp International | ||||||||
| SXE | 05/07/2010 | CGI Group (N/A) | $904 million | $37.50 | $37.42 | 09/30/2010 | 0.21% | 0.90% |
| Details of Stanley, Inc. Common Stock Expected to close during the fall of 2010 for a closing value of $904mn. CGI will pay shareholders $37.50 for each share of Stanley. | ||||||||
| PALM | 04/28/2010 | Hewlett – Packard (HPQ) | $1.2 billion | $5.70 | $5.69 | 07/31/2010 | 0.18% | 2.47% |
| Details of Palm, Inc. Expected to close by July 31, 2010 for a closing value of $1.2bn. It is a cash deal @ $5.7 per share. | ||||||||
| CKR | 03/01/2010 | Apollo Management VII (N/A) | $694 million | $12.55 | $12.53 | 07/07/2010 | 0.16% | 29.13% |
| Details of CKE Restaurants, Inc. Common St Expected to close by June 30 for a closing value of $694 mn.CKE scrapped the THL deal and accepted Apollo's takeover bid @ $12.55 per share. | ||||||||
| SENO | 05/05/2010 | Bard (BARD.PK) | $200 million | $11.00 | $11.00 | 09/30/2010 | 0.00% | 0.00% |
| Details of SenoRx, Inc. Expected to close by the third quarter of 2010 for a closing value of $200mn. The deal is @ $11.00 per share in cash. | ||||||||
| BELM | 03/29/2010 | Avnet (AVT) | $252 million | $7.00 | $7.00 | 07/15/2010 | 0.00% | 0.00% |
| Details of Bell Microproducts Inc. Expected to close in two to four months for a closing value of $252mn and also assuming $342 million in debt for the company as part of the transaction, bringing the total value of the deal up to $594 million.Avnet is paying $7 a share for San Jose-based Bell Microproducts Inc. | ||||||||
| CRN | 04/19/2010 | GeoGroup (GEO) | $685 million | $26.90 | $26.93 | 09/30/2010 | -0.12% | -0.51% |
| Details of Cornell Corrections, Inc. Commo Expected to close in the third quarter of 2010 at an estimated enterprise value of $685 million based on the closing prices of both companies | ||||||||
| NGA | 04/01/2010 | AZZ Inc. (AZZ) | $125.6 million | $7.50 | $7.52 | 08/31/2010 | -0.27% | -1.70% |
| Details of North American Galvanizing & Co Expected to close by the end of AZZ’s fiscal second quarter, Aug. 31for a value of $125.6 million. AZZ plans a cash tender offer for NAGC of $7.50 per share | ||||||||
| VRX | 06/21/2010 | Biovail Corporation (BVF) | $3.3 billion | $50.38 | $51.32 | 12/31/2010 | -1.84% | -3.75% |
| Details of Valeant Pharmaceuticals Expected to close by the end of 2010 for a closing value of roughly $3.3 billion. Valeant stockholders will get a one-time special cash dividend of $16.77 per share and 1.7809 shares of Biovail common stock. The combined company will pay an additional $1/share dividend to all stockholders of the new entity. | ||||||||
| SNWL | 06/03/2010 | investor group led by private equity firm Thoma Bravo LLC (N/A) | $636 million | $11.50 | $11.78 | 12/31/2010 | -2.38% | -4.85% |
| Details of SonicWall Expected to close by the end of the year for a closing value of $636mn.On the completion of the merger SonicWall shareholders will get $11.50 per share in cash. | ||||||||
| CAL | 05/03/2010 | United (UAUA) | $1.2 billion | $19.52 | $20.10 | 12/31/2010 | -2.89% | -5.89% |
| Details of Continental Airlines, Inc. Comm Expected to close by the end of 2010 for a closing value of approximately $1.2bn. In the merger, Continental shareholders will receive 1.05 shares of United common stock for each Continental common share they own. | ||||||||
| ABII | 06/30/2010 | Celgene (CELG) | $2.9 billion | $71.28 | $74.25 | 12/31/2010 | -4.00% | -8.16% |
| Details of Abraxis Bioscience Inc. Expected to close in the fourth quarter of 2010 for a closing value of $2.9 billion. Under terms of the deal, shareholders of Abraxis will receive $58 and 0.2617 shares of Celgene for each Abraxis share they own. | ||||||||
| ARD | 04/04/2010 | SandRidge Energy Inc. (SD) | $1.6 billion | $30.78 | $32.19 | 09/30/2010 | -4.38% | -18.37% |
| Details of Arena Resources Inc Common Stoc Expected to close during the second or third quarter of 2010 for a value of $1.6bn. The stock-cash merger is @ 4.7771 shares of SandRidge common stock and $2.50 in cash for each share of Arena common stock. | ||||||||
| DTG | 04/26/2010 | Hertz (HTZ) | $1.3 billion | $38.57 | $41.70 | 12/31/2010 | -7.50% | -15.29% |
| Details of Dollar Thrifty Automotive Group Expected to close by the end of the year for a value of $1.3 billion. The transaction values Dollar Thrifty stock at approximately $41.00 per share. the $41.00 per share purchase price is comprised of 80% cash consideration and 20% stock consideration. The cash portion will be paid in two components; (1) a $200 million special cash dividend representing approximately $6.88 per share, to be paid by Dollar Thrifty immediately prior to the transaction closing and (2) $25.92 per share to be paid by Hertz at the closing. The stock is at a fixed exchange ratio of 0.6366 per share, based upon a Hertz common stock closing price of $12.88 per share on April 23, 2010. | ||||||||
| TLCR | 06/07/2010 | Grifols (N/A) | $3.4 billion | $19.00 | $21.16 | 12/31/2010 | -10.21% | -20.82% |
| Details of Talecris Expected to close by the end of the year for a closing value of $3.4 billion. On the completion of the merger Grifols will pay $19 in cash and 0.641 newly issued, nonvoting shares for each share of Talecris. | ||||||||
| MCCC | 06/01/2010 | Chief Executive Rocco Commisso (N/A) | $590 million | $6.00 | $6.75 | N/A | -11.11% | 0.00% |
| Details of Mediacom Communications Corporation | ||||||||
| CCE | 02/25/2010 | The Coca-Cola Company (KO) | $12.3 billion | N/A | $26.03 | 10/01/2010 | N/A | N/A |
| Details of Coca-Cola Enterprises, Inc. Com Expected to close by October 1, 2010 for a closing value of $12.3 billion. The deal includes $10 per share + a share in a new bottling company | ||||||||
Voluntary Disclosure: I own long positions in Coca-Cola Enterprises (CCE) and Portec Rail Products (PRPX) in my personal portfolio.
