Welcome to the Chippy issue of M&A Daily
Following up on Apple Supplier In Sale Talks, TDK (OTCPK:TTDKY) is buying InvenSense (NYSE:INVN) in a $1.3 billion cash deal. INVN holders get $13 per share. Bank of America (NYSE:BAC) is working with the buyer.
Apple (NASDAQ:AAPL) supports the deal.
Top Picks For 2017
So far in this series, I have disclosed the following top picks for 2017:
- Asset class
- Asset class short
- Closed-end fund
- Country market
- Credit card
Before year-end, I will discuss several other categories. Today, I offer my one non-profit idea. My favorite philanthropy for 2017: Watsi. This year, we raised money for life-changing healthcare for people around the world. This is my top non-profit priority for 2017.
Colony (CLNY), NorthStar Asset Management (NSAM) and NorthStar Realty (NRF) shareholders approved their deal.
The EU cleared the Verizon (NYSE:VZ) deal with Yahoo (YHOO).
The merger agreement has been filed for the acquisition of Allied World (NYSE:AWH).
The preliminary proxy has been filed for the acquisition of Genworth (NYSE:GNW). The $1.18 arb spread offers a 52% IRR if the deal closes by July. More to come in future editions of M&A Daily.
Elsewhere on Seeking Alpha
- Bank Of America's Sale
- Chris DeMuth Jr. Positions For 2017
- Netgear Acquires Placemeter
- The 21st Century Fox Deal For Sky
- Annual 'Orgy Of Wealth Destruction'
New 52-week Highs
- Bitcoin (BTC)
New 52-week Low
Sifting the World
Disclosure: I am/we are long INVN, YHOO, GNW, CKEC, LQ, RAD, ZION, CDK, BITCOIN.
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).
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.