• Dec. 19, 2016, 5:54 PM
    Dec. 19, 2016, 5:54 PM
  • Nov. 26, 2016, 9:11 AM
    • It's no surprise that Republican administrations in general are seen as more friendly towards mergers than Democrats, and since the election, arbitrage spreads (the difference between a target's deal price and its current price) have tightened to the 8-9% range from 11%.
    • However, on an annualized basis, there are still plenty of deals out there offering double-digit returns.
    • Source: Vito Racanelli in Barron's
    • Merger-arb shop WallachBeth Capital is fan of Harman International Industries (NYSE:HAR), which earlier this month drew a cash bid from Samsung for $112 per share vs. its close Friday of $109.74. Another pick is B/E Aerospace (NASDAQ:BEAV) which closed at $59.79 and has a cash and stock deal in hand from Rockwell Collins (NYSE:COL) for $62 per share.
    • Lutetia Capital likes Cabela's (NYSE:CAB), which closed the week at $62.50 vs. Bass Pro Shops' $65.50 bid.
    • The Merger Fund's Roy Behren is confident Qualcomm's (NASDAQ:QCOM) bid for NXP Semiconductors (NASDAQ:NXPI) will pass regulatory muster. NXP's close yesterday of $99.51 is a full 10.5% below the $110 cash offer. If the deal closes in nine months, it's an annualized return of 12.6%.
    • Another deal with maybe overblown antitrust concerns is Danone/WhiteWave Foods (NYSE:WWAV). The spread is just 2%, but a close early next year would mean an annualized return over 10%.
    • Seeking Alpha contributor Chris DeMuth stays on top of merger arb spreads with his M&A Daily.
    Nov. 26, 2016, 9:11 AM | 19 Comments
  • Nov. 14, 2016, 9:26 AM
    • Harman International (NYSE:HARsoars 26.18% to $110.60 in premarket trading after accepting a takeover offer from Samsung at $112 per share.
    • Harman's board has already approved the deal, which is expected to close in the middle part of 2017.
    • The company will operate as a standalone Samsung subsidiary and be led by Dinesh Paliwal along with the current management team.
    • Previously: Samsung moves into the connected car market (Nov. 14)
    Nov. 14, 2016, 9:26 AM | 16 Comments
  • Mar. 31, 2015, 6:57 AM
    • Harman International (NYSE:HAR) announces it will acquire Bang & Olufsen's car audio business.
    • The company will pay €145M ($155.75M) for the business and make license payments for the brand name.
    • Bang & Olufsen systems are in a range of car models that includes Audi, BMW, and Mercedes-Benz.
    Mar. 31, 2015, 6:57 AM
  • Jan. 22, 2015, 12:15 PM
    • Harman International (HAR -0.4%) is acquiring two privately held car software companies (I, II) for a combined $950M in cash and stock to bulk up its offerings for the "connected car."
    • HAR will buy Symphony Teleca, a software services company, for $780M, and Israel-based Red Bend Software, which specializes in mobile software management, for $170M.
    • HAR says it will add a new division to its original three businesses of infotainment, lifestyle and professional following the acquisition of Symphony Teleca.
    Jan. 22, 2015, 12:15 PM
  • Oct. 17, 2013, 11:26 AM
    • Harman International (HAR +1%) announces the acquisition of privately-held Duran Audio for an undisclosed amount.
    • The company says it can create synergies by blending Duran's product lines into its own.
    Oct. 17, 2013, 11:26 AM