The activity on the Merger Arbitrage front dropped a little last week with three new deals announced and two deals closing.
The new deals include the acquisition of AmeriCredit Corporation (ACF) by General Motors at $24.50 per share in cash, the acquisition of Cypress Bioscience (CYPB) by hedge fund Ramius at $4.00 per share in cash and the acquisition of ATC Technology (ATAC) by Genco at $25 per share in cash. We have not listed the acquisition of CYPB by Ramius in the table below because the deal is yet to be approved by the Cypress board.
The deals that closed include the acquisition of Arena Resources (ARD) by SandRidge Energy on July 19, 2010 and the acquisition of SonicWall (SNWL) by an investment group led by private equity investment firm Thoma Bravo LLC on July 23, 2010. The tender offers for Santander Bancorp (SBP) and American Italian Pasta Company (AIPC) are now complete and those deals are expec ted to close shortly.
| Symbol | Announced Date | Acquiring Company | Closing Value | Closing Price | Last Price | Closing Date | Profit | Annu. Profit |
|---|---|---|---|---|---|---|---|---|
| WX | 04/26/2010 | Charles River Laboratories (CRL) | $1.6 billion | $20.54 | $15.74 | 12/31/2010 | 30.48% | 70.41% |
| 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. | ||||||||
| EMMS | 05/25/2010 | JS Acquisition and Alden Global Capital (N/A) | $3 billion | $2.40 | $1.97 | 09/30/2010 | 21.83% | 120.71% |
| 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. | ||||||||
| TLCR | 06/07/2010 | Grifols (GRF.MC) | $3.4 billion | $25.90 | $21.66 | 12/31/2010 | 19.57% | 45.20% |
| 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. | ||||||||
| SSE | 02/23/2010 | Naugatuck Valley Financial Corp (NVSL) | $19.5 million | $7.25 | $6.35 | 08/16/2010 | 14.17% | 246.34% |
| 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 | ||||||||
| AYE | 02/11/2010 | FirstEnergy (FE) | $8.5 billion | $25.24 | $23.08 | 03/31/2011 | 9.36% | 13.77% |
| 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 | ||||||||
| BGH | 06/11/2010 | Buckeye Partners LP (BPL) | $1.14 billion | $44.53 | $41.54 | 12/31/2010 | 7.19% | 16.62% |
| 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. | ||||||||
| ATBC | 05/10/2010 | Jacksonville Bancorp (JAXB) | N/A | $2.45 | $2.31 | 09/30/2010 | 6.06% | 33.52% |
| 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. | ||||||||
| PINN | 02/24/2010 | Investor Group lead by Scotia Waterous (USA) (N/A) | $11 million | $0.34 | $0.321 | 08/21/2010 | 5.92% | 83.09% |
| 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 | ||||||||
| Q | 04/22/2010 | Century Link (CTL) | $10.6 billion | $5.92 | $5.64 | 04/21/2011 | 4.91% | 6.67% |
| 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. | ||||||||
| TTIL | 06/09/2010 | Teoco Corp. (N/A) | $58 million | $3.00 | $2.88 | 09/30/2010 | 4.17% | 23.04% |
| 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. | ||||||||
| ALOY | 06/24/2010 | ZelnickMedia (N/A) | $126.5 million | $9.80 | $9.43 | 12/31/2010 | 3.92% | 9.06% |
| 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. | ||||||||
| ATAC | 07/19/2010 | Genco Distribution System Inc. (N/A) | $513 million | $25.00 | $24.16 | 12/31/2010 | 3.48% | 8.03% |
| Details of ATC Technology Expected to close by the fourth quarter of 2010 for a closing value of $513 million. On the completion of the merger, ATC shareholders will receive $25 per share in cash. | ||||||||
| PRPX | 02/17/2010 | L.B. Foster Co. (FSTR) | $112 million | $11.71 | $11.35 | 08/31/2010 | 3.17% | 32.16% |
| 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 | ||||||||
| TSFG | 05/17/2010 | TD Bank Financial Group (N/A) | $61 million | $0.28 | $0.2716 | 09/30/2010 | 3.09% | 17.10% |
| 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. | ||||||||
| ODSY | 05/24/2010 | Gentiva Health Services (GTIV) | $1.0 billion | $27.00 | $26.23 | 09/30/2010 | 2.94% | 16.23% |
| 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. | ||||||||
| PMACA | 06/10/2010 | Old Republic International (ORI) | $228 million | $6.95 | $6.75 | 09/30/2010 | 2.91% | 16.10% |
| 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. | ||||||||
| GLG | 05/17/2010 | Man Group (N/A) | $1.6 billion | $4.50 | $4.38 | 09/30/2010 | 2.74% | 15.15% |
| 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. | ||||||||
| HEW | 07/12/2010 | Aon Corp (AON) | $4.9 billion | $48.91 | $47.63 | 11/15/2010 | 2.68% | 8.74% |
| Details of Hewitt Associates Expected to close by mid-November 2010, Aon Corp plans to acquire Hewitt Associates for $4.9 billion. The deal is a cash plus stock deal worth $50 at the time of announcement. Hewitt shareholders will receive $25.61 in cash and 0.6362 shares of AON. | ||||||||
| ECLP | 06/09/2010 | Allscripts-Misys Healthcare (MDRX) | $1.3 billion | $19.43 | $18.93 | 11/15/2010 | 2.63% | 8.57% |
| 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. | ||||||||
| WMZ | 05/24/2010 | Williams Partners L.P. (WPZ) | $35.48 | $34.57 | 09/30/2010 | 2.63% | 14.52% | |
| 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. | ||||||||
| VETS | 06/02/2010 | VCA Antech Inc (WOOF) | $41.25 million | $0.34 | $0.3325 | 09/30/2010 | 2.26% | 12.47% |
| 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. | ||||||||
| PSYS | 05/17/2010 | Universal Health (N/A) | $3.1 billion | $33.75 | $33.07 | 12/31/2010 | 2.06% | 4.75% |
| 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. | ||||||||
| EFJI | 05/17/2010 | Francisco Partners (N/A) | N/A | $1.50 | $1.47 | 09/30/2010 | 2.04% | 11.29% |
| 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. | ||||||||
| ACF | 07/22/2010 | General Motors Co. (N/A) | $3.5 billion | $24.50 | $24.01 | 12/31/2010 | 2.04% | 4.71% |
| Details of AmeriCredit Corp. Expected to close in the fourth quarter of 2010, for a closing value of $3.5 billion. On the completion of the merger, ACF shareholders will receive $24.50 per share in cash. | ||||||||
| OMNI | 06/04/2010 | Wellspring Capital Management (N/A) | $122 million | $2.75 | $2.70 | 11/15/2010 | 1.85% | 6.04% |
| 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. | ||||||||
| SMTB | 07/15/2010 | People's United Financial Inc. (PBCT) | $60 million | $4.01 | $3.941 | 12/31/2010 | 1.73% | 3.99% |
| Details of Smithtown Bancorp Inc Expected to close in the fourth quarter of 2010, for a closing value of $60 million. On the completion of the merger, Smithtown Bancorp shareholders will receive 0.1430 shares of People's United common stock and $2.00 in cash. | ||||||||
| WAIN | 06/29/2010 | Eastern Bank (N/A) | $163 million | $19.00 | $18.6901 | 12/31/2010 | 1.66% | 3.83% |
| 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. | ||||||||
| DIVX | 06/02/2010 | Sonic Solutions (SNIC) | $323 million | $8.06 | $7.93 | 09/30/2010 | 1.61% | 8.88% |
| 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. | ||||||||
| ADCT | 07/13/2010 | Tyco Electronics (TEL) | $1.24 billion | $12.75 | $12.56 | 12/31/2010 | 1.51% | 3.49% |
| Details of ADC Telecommunications Inc Expected to close in the fourth quarter of 2010, for a closing value of $1.24 billion. On the completion of the merger, ADC Telecommunications shareholders will receive $12.75 per share in cash | ||||||||
| NTY | 07/15/2010 | The Carlyle Group (N/A) | $3.8 billion | $55.00 | $54.19 | 12/31/2010 | 1.49% | 3.45% |
| Details of NBTY Inc. Expected to close by the end of 2010 for a closing value of $3.8 billion. On the completion of the merger, NBTY shareholders will receive $55 per share in cash. | ||||||||
| SWWC | 03/03/2010 | Institutional Investors (N/A) | $275 million | $11.00 | $10.84 | 03/31/2011 | 1.48% | 2.17% |
| 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 | ||||||||
| MIR | 04/12/2010 | RRI Energy In. (RRI) | $1.6 billion | $11.94 | $11.77 | 12/31/2010 | 1.40% | 3.25% |
| 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. | ||||||||
| NYM | 07/15/2010 | ProSight (N/A) | $230 million | $25.75 | $25.40 | 12/31/2010 | 1.38% | 3.18% |
| Details of NYMagic Expected to close in the fourth quarter of 2010 for a closing value of $230 million. On the completion of the merger, NYMagic shareholders will receive $25.75 per share in cash. | ||||||||
| BNE | 02/24/2010 | RR Donnelley (RRD) | $481 million | $11.50 | $11.35 | 09/30/2010 | 1.32% | 7.31% |
| 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 | ||||||||
| ME | 04/15/2010 | Apache (APA) | $2.7 billion | $23.61 | $23.33 | 09/30/2010 | 1.22% | 6.74% |
| 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. | ||||||||
| STBK | 03/18/2010 | Roma Financial Corp (ROMA) | $14.7 million | $2.52 | $2.49 | 08/16/2010 | 1.20% | 20.94% |
| 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 | ||||||||
| MAM | 03/12/2010 | Emera Inc (N/A) | $75.7 million | $45.00 | $44.48 | 12/31/2010 | 1.17% | 2.70% |
| 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 | ||||||||
| BSMD | 05/13/2010 | Merit Medical Systems (MMSI) | $96 million | $4.38 | $4.33 | 09/30/2010 | 1.15% | 6.39% |
| 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. | ||||||||
| PFWD | 04/16/2010 | Oracle Corp. (ORCL) | $685 million | $17.00 | $16.82 | 06/30/2010 | 1.07% | 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. | ||||||||
| LSBX | 07/15/2010 | People's United Financial Inc. (PBCT) | $96 million | $21.00 | $20.79 | 12/31/2010 | 1.01% | 2.33% |
| Details of LSB Corporation Expected to close in the fourth quarter of 2010 for a closing value of $96 million. On the completion of the merger, LSBX shareholders will receive $21 per share in cash. | ||||||||
| QUOT | 06/11/2010 | LQ Acquisition (N/A) | $19 million | $4.00 | $3.96 | 09/30/2010 | 1.01% | 5.59% |
| 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. | ||||||||
| ACAP | 07/08/2010 | The Doctors Company (N/A) | $386 million | $41.50 | $41.11 | 12/31/2010 | 0.95% | 2.19% |
| Details of American Physicians Capital Inc. Expected to close in the fourth quarter of 2010 for a closing value of $386 million. On the completion of the merger, American Physicians Capital shareholders will receive $41.50 per share in cash. | ||||||||
| CRN | 04/19/2010 | GeoGroup (GEO) | $685 million | $28.17 | $27.97 | 09/30/2010 | 0.72% | 3.97% |
| 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 | ||||||||
| SII | 02/19/2010 | Schlumberger (SLB) | $7.5 billion | $41.34 | $41.06 | 09/30/2010 | 0.69% | 3.81% |
| 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 | ||||||||
| WEL | 04/09/2010 | Halliburton Company (HAL) | $240 million | $3.00 | $2.98 | 09/30/2010 | 0.67% | 3.71% |
| 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. | ||||||||
| MEND | 07/12/2010 | Johnson & Johnson (JNJ) | $480 million | $23.40 | $23.25 | 09/30/2010 | 0.65% | 3.57% |
| Details of Micrus Endovascular Expected to close in the second half of 2010, JNJ plans to acquire MEND in an all cash deal valued at $480 million. MEND shareholders will receive $23.40 in cash should the deal complete. | ||||||||
| RBI | 03/15/2010 | affiliate of Oncap Management Partners L.P. (N/A) | $13.55 | $13.48 | 08/16/2010 | 0.52% | 9.03% | |
| 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 | ||||||||
| MDNU | 06/11/2010 | Danone (N/A) | $62.3 million | $4.00 | $3.98 | 09/30/2010 | 0.50% | 2.78% |
| 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. | ||||||||
| ORCD | 03/16/2010 | eMusic (N/A) | $12.77 million | $2.05 | $2.04 | 08/16/2010 | 0.49% | 8.52% |
| Details of The Orchard Enterprises, Inc Expected to close by the third quarter of 2010 for $12.7 million @ $2.05 per share. | ||||||||
| NADX | 04/05/2010 | GDC Holdings Inc. (N/A) | $100 million | $17.00 | $16.93 | 09/30/2010 | 0.41% | 2.29% |
| 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. | ||||||||
| RCNI | 03/05/2010 | ABRY Partners (N/A) | $536 million | $15.00 | $14.94 | 09/30/2010 | 0.40% | 2.22% |
| 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 | ||||||||
| GNA | 06/02/2010 | Gerdau (GGB) | $1.7 billion | $11.00 | $10.96 | 08/31/2010 | 0.36% | 3.70% |
| 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. | ||||||||
| VRAD | 05/17/2010 | Providence Equity (N/A) | $294 million | $17.25 | $17.20 | 09/30/2010 | 0.29% | 1.61% |
| 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. | ||||||||
| VTIV | 05/06/2010 | Thomas H. Lee Partners (N/A) | $1.1 billion | $26.00 | $25.93 | 09/30/2010 | 0.27% | 1.49% |
| 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. | ||||||||
| SXE | 05/07/2010 | CGI Group (N/A) | $904 million | $37.50 | $37.40 | 09/30/2010 | 0.27% | 1.48% |
| 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. | ||||||||
| ATSI | 04/29/2010 | Medtronic (MDT) | $350 million | $4.00 | $3.99 | 09/30/2010 | 0.25% | 1.39% |
| Details of ATS Medical, Inc. Expected to close by September 30 for a value of $350mn. Medtronic is offering ATS Medical $4 per share | ||||||||
| SMTS | 06/16/2010 | Covidien (COV) | $299 million | $25.00 | $24.97 | 07/31/2010 | 0.12% | 8.77% |
| 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. | ||||||||
| IDC | 05/04/2010 | Silver Lake & Warburg Pincus (N/A) | $3.4 billion | $33.86 | $33.82 | 09/30/2010 | 0.12% | 0.65% |
| 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. | ||||||||
| SY | 05/12/2010 | SAP (SAP) | $5.8 billion | $65.00 | $64.96 | 09/30/2010 | 0.06% | 0.34% |
| 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. | ||||||||
| STST | 06/30/2010 | Boeing (BA) | $775 million | $34.50 | $34.49 | 09/30/2010 | 0.03% | 0.16% |
| 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. | ||||||||
| DBTK | 05/17/2010 | Vision Solutions (N/A) | $242 million | $10.55 | $10.55 | 09/30/2010 | 0.00% | 0.00% |
| 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. | ||||||||
| VIRL | 06/10/2010 | Synopsys (SNPS) | $315 million | $12.00 | $12.00 | 12/31/2010 | 0.00% | 0.00% |
| 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. | ||||||||
| AIPC | 06/21/2010 | Ralcorp Holdings (RAH) | $1.2 billion | $53.00 | $53.01 | 09/30/2010 | -0.02% | -0.10% |
| 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 | ||||||||
| CAL | 05/03/2010 | United (UAUA) | $1.2 billion | $24.11 | $24.25 | 12/31/2010 | -0.59% | -1.35% |
| 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. | ||||||||
| SBP | 06/24/2010 | ABLASA (N/A) | N/A | $12.69 | $12.77 | 07/29/2010 | -0.63% | -76.22% |
| Details of Santander Bancorp Expected to close by July 29, 2010 unless extended. On the completion of the merger Santander BanCorp shareholders will receive $12.69 per share in cash. | ||||||||
| NGA | 04/01/2010 | AZZ Inc. (AZZ) | $125.6 million | $7.50 | $7.56 | 08/31/2010 | -0.79% | -8.05% |
| 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 | $54.70 | $55.32 | 12/31/2010 | -1.12% | -2.58% |
| 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. | ||||||||
| CPII | 05/10/2010 | Comtech (CMTL) | $472.3 million | $13.90 | $14.08 | 09/30/2010 | -1.25% | -6.89% |
| 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. | ||||||||
| ABII | 06/30/2010 | Celgene (CELG) | $2.9 billion | $71.80 | $74.42 | 12/31/2010 | -3.51% | -8.12% |
| 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. | ||||||||
| BXC | 07/22/2010 | Cerberus Capital Management (N/A) | $111.1 million | $3.40 | $3.91 | 12/31/2010 | -13.04% | -30.13% |
| Details of BlueLinx Holdings Inc. Expected to close in the fourth quarter of 2010 for a closing value of $111.1 million. On the completion of the merger, BXC shareholders will receive $3.40 per share in cash. | ||||||||
| DTG | 04/26/2010 | Hertz (HTZ) | $1.3 billion | $39.88 | $47.57 | 12/31/2010 | -16.17% | -37.35% |
| 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. | ||||||||
| MCCC | 06/01/2010 | Chief Executive Rocco Commisso (N/A) | $590 million | $6.00 | $7.26 | N/A | -17.36% | 0.00% |
| Details of Mediacom Communications Corporation | ||||||||
| CCE | 02/25/2010 | The Coca-Cola Company (KO) | $12.3 billion | N/A | $28.51 | 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 | ||||||||
