Welcome to the Improved Deal issue of M&A Daily
Samsonite (SMSEYK) holders approved their acquisition of Tumi (NYSE:TUMI).
du Pont (DD) expects the acquisition by Dow (DOW) to close later this year.
Starwood (HOT) expects the acquisition by Marriott (NYSE:MAR) to close in the coming weeks subject to regulatory approval in China.
Great Plains (NYSE:GXP) must seek approval from the Missouri Public Service Commission regarding its acquisition of Westar (NYSE:WR). The $4.99 arb spread offers a 10% IRR if the deal closes by next June. More to come in future editions of M&A Daily…
Elsewhere on Seeking Alpha
- Elon Musk Does Not Back Down (TSLA, SCTY)
- AirMedia Price Collapse (NASDAQ:AMCN)
- Relypsa Rumble Post-Mortem (NASDAQ:RLYP)
- Higher Buyout Price For Joy? (NYSE:JOY)
- Notes On Credit Acceptance Corp (NASDAQ:CACC)
- Warren Buffett's Conspiracy (BRK.A/BRK.B)
Disclosure: I am/we are long WR, BRK.A, BRK.B.
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).
Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.