30% IRR From Microsoft Deal

| About: Microsoft Corporation (MSFT)

Summary

Benioff can’t kill Microsoft-LinkedIn.

CST holders approve sale.

New Seeking Alpha blog page.

Welcome to the European issue of M&A Daily

Microsoft

Microsoft (NASDAQ:MSFT) offered key concessions to the EU on its acquisition of LinkedIn (NYSE:LNKD). The $4.94 arb spread offers a 30% IRR if the deal closes in December. The commission will come back around Tuesday, December 6, with their response; on that date they should and probably will clear the deal. Meanwhile, Salesforce.com's (NYSE:CRM) Marc Benioff is trying to stir up trouble for the deal, complaining that Microsoft ownership of LinkedIn data is anticompetitive. His preference is for Microsoft to pay for it and then give it to him.

Cabela's

Today is the regulatory filing date for the bank purchase agreement for the Bass Pro acquisition of Cabela's (NYSE:CAB). The $4.80 arb spread offers a 12% IRR if the deal closes by July.

Chemtura

HSR expires today for the Lanxess (OTCPK:LNXSF) acquisition of Chemtura (NYSE:CHMT).

Everyday

Everyday (NYSE:EVDY) received early termination of HSR for its acquisition by j2 (NASDAQ:JCOM).

G&K

G&K (NASDAQ:GK) shareholders approved the merger with Cintas (NASDAQ:CTAS).

CST

CST (NYSE:CST) shareholders approved its acquisition by Alimentation Couche-Tard (OTCPK:ANCUF). HSR expires today.

CIFC

CIFC (NASDAQ:CIFC) shareholders approved its acquisition by FAB. More to come in future editions of M&A Daily

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Disclosure: I am/we are long LNKD.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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