Welcome to the Investing with a Zedge issue of M&A Daily
Anyone interested in such topics should read Huge Upside From This Recently Spun Off High-Growth Startup (NYSEMKT:ZDGE) by one of Rangeley's analysts, Ravi Mulani. He has been making a positive impact upon our portfolio and has also been a prolific contributor to StW including here and here. Next up will be the results of a big research project with his colleague Lisa Peng. If you're interested, please follow them both and stay tuned for more…
Medtronic (NYSE:MDT) is buying HeartWare (NASDAQ:HTWR) in a $1.1 billion cash tender. HTWR holders get $58 per share. The deal should close by November and be accretive to the buyer's EPS by the third year of the consolidated company. Who is next? Maybe Abiomed (NASDAQ:ABMD).
The European Commission's Phase 1 review of the Marriott (NYSE:MAR) acquisition of Starwood (HOT) expired.
The definitive proxy was filed for the JAB acquisition of Krispy Kreme (KKD).
The definitive proxy was filed for the Accel-KKR acquisition of SciQuest (NASDAQ:SQI).
The Thoma Bravo acquisition of Qlik (NASDAQ:QLIK) was notified to the EC on June 24. Phase I expires on August 1. The $1.08 arb spread offers a 13% IRR of the deal closes by October. More to come in future editions of M&A Daily…
- TowneBank (NASDAQ:TOWN) closed its Monarch (NASDAQ:MNRK) buy.
- FormFactor (NASDAQ:FORM) closed its Cascade (NASDAQ:CSCD) deal.
Elsewhere on Seeking Alpha
- Brexocalypse - 3 Ways To Protect Your Portfolio Today
- Teranga's Deal: A Game-Changer, Or Too Much Risk?
- The London Stock Exchange-Deutsche Boerse Merger Post Brexit
- Benefit From Tyco Is Clear, But Tax Bill Coming (NYSE:JCI)
Beyond Seeking Alpha
Disclosure: I am/we are long ZDGE, HTWR, WMB, HUM.
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. 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).