Elon Musk's Rivals Gang Up On Tesla

| About: Tesla Motors (TSLA)

Summary

Car makers join forces on charging stations.

ACCC preps Syngenta decision.

Vista-Cvent deal closes.

Welcome to the Electric issue of M&A Daily

Tesla

With the successful close of the Tesla (NASDAQ:TSLA) acquisition of SolarCity, Elon Musk's electric car empire threatens to dominate the future of automobiles. Today, the traditional car companies are striking back, working together to build out charging stations across Europe. The partners include Ford (NYSE:F), BMW (OTCPK:BMWYY), Daimler (OTCPK:DDAIY), and Volkswagen (OTCPK:VLKAY). They intend to break ground on four hundred high-speed charging stations next year and to complete the project by 2020.

Happy Birthday, Sir John Templeton

Help people. When people are desperately trying to sell, help them and buy. When people are enthusiastically trying to buy, help them and sell.

- Sir John Templeton

EverBank

EverBank (NYSE:EVER) priced its underwritten, secondary public offering of 7.01 million shares at $19.25.

Envision

Envision (NYSE:EVHC) and AmSurg (NASDAQ:AMSG) shareholders approved their merger. The deal closes December 1.

Syngenta

The ACCC set December 8 as the date for their decision on the ChemChina acquisition of Syngenta (NYSE:SYT). This could be a final decision or the release of a Statement of Issues. The $17.68 arb spread offers a 67% IRR if the deal closes by April. More to come in future editions of M&A Daily

Done deal.

  • Vista closed its Cvent (NYSE:CVT) deal.

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Disclosure: I am/we are long SYT, CVT.

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.

Additional disclosure: Chris DeMuth Jr and Andrew Walker are portfolio managers at Rangeley Capital. We invest with a margin of safety by buying securities at discounts to their intrinsic value and unlocking that value through corporate events. To maximize returns for our investors, we reserve the right to make investment decisions regarding any security without notification except where notification is required by law. This post may contain affiliate links, consistent with the disclosure in such links. We manage diversified portfolios with a multi-year time horizon. Positions disclosed in articles may vary in sizing, hedges, and place within the capital structure. Disclosed ideas are related to a specific price, value, and time. If any of these attributes change, then the position might change (and probably will).

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