Merger activity increased last week with four new deals announced and four pending deals closing.
|Total Number of Deals Closed in 2019||38|
|Total Number of Deals Not Completed in 2019||1|
|Total Number of Pending Deals|
|Stock & Cash Deals||15|
|Total Number of Pending Deals||70|
|Total Deal Size||$684.69 billion|
- The acquisition of Immune Design (NASDAQ:IMDZ) by Merck (NYSE:MRK) for $300 million or $5.85 per share in cash.
- The acquisition of Citizens First Corporation (NASDAQ:CZFC) by German American Bancorp (NASDAQ:GABC) for $69.51 million in a cash plus stock deal. Under the terms of the definitive agreement, Citizens First common shareholders (excluding 401(k) shareholders) will receive a fixed exchange ratio of 0.6629 shares of German American common stock for each share of Citizens First in a tax-free exchange, and a cash payment of $5.80 per Citizens First share.
- The acquisition of Attunity (NASDAQ:ATTU) by Qlik for $560 million or $23.50 per share in cash.
- The acquisition of Spark Therapeutics (NASDAQ:ONCE) by Roche (OTCQX:RHHBY) for $4.8 billion or $114.50 per share in cash.
- On February 18, 2019, Newmont Mining Corporation (NYSE:NEM) announced that the Canadian Competition Bureau issued a "no action" letter clearing Newmont's previously announced transaction with Goldcorp (NYSE:GG) under Canadian competition law. On February 22, 2019, Newmont Mining Corporation and Goldcorp announced that Goldcorp has obtained an interim order from the Ontario Superior Court of Justice in connection with the previously announced statutory arrangement. Receipt of the interim order allows Goldcorp to hold its shareholder meeting on April 4, 2019, and is a necessary step toward obtaining a final order from the Court that is a condition to closing the acquisition.
- On February 19, 2019, Inuvo (NYSEMKT:INUV) and ConversionPoint Technologies announced an update on various matters relating to the pending acquisition of Inuvo. Due to the delay caused by the government shutdown, ConversionPoint Holdings only recently received comments from the SEC, and ConversionPoint Holdings expects to file an amendment to the registration statement on Form S-4 in early March 2019. The companies currently expect to close the transaction in Q2 2019.
- On February 19, 2019, eHi Car Services Limited (NYSE:EHIC) announced that it has entered into an Amended and Restated Agreement and Plan of Merger with Teamsport Parent Limited. Under the Amended Merger Agreement, eHi shareholders will receive cash consideration equal to US$6.125 per common share of the Company (each, a "Share") or US$12.25 per American depositary share of the Company (each, an "ADS").
- On February 19, 2019, the U.S. Federal Trade Commission gave Germany's Fresenius Medical Care AG (NYSE:FMS) and NxStage Medical (NASDAQ:NXTM) antitrust approval for their merger.
- On February 20, 2019, Bristol-Myers Squibb (NYSE:BMY) said that activist hedge fund Starboard Value LP intends to nominate five directors to the U.S. drugmaker's board, one month after it announced a deal to acquire peer Celgene (NASDAQ:CELG).
- On February 21, 2019, The Walt Disney Company (NYSE:DIS) announced the extension of the expiration date of the offers to exchange any and all outstanding notes issued by 21st Century Fox America (NASDAQ:FOX) from February 26, 2019, to March 5, 2019.
- On February 21, 2019, Rowan Companies (NYSE:RDC) and Ensco (NYSE:ESV) jointly announced that both companies' shareholders voted to approve the pending all-stock transaction.
- On February 22, 2019, Nevada Gold & Casinos (NYSEMKT:UWN) announced that its shareholders have voted to approve the Merger Agreement with Maverick Casinos.
- On February 22, 2019, Ready Capital Corporation (NYSE:RC) and Owens Realty Mortgage (NYSEMKT:ORM) jointly announced that they have determined the final exchange ratio in accordance with the terms of the Agreement and Plan of Merger. There is no change to the final exchange ratio based on the determination date of January 31, 2019, from the base exchange ratio of 1.441 that was set out in the joint proxy statement/prospectus.
- On February 22, 2019, Resolute Energy Corporation (NYSE:REN) announced that at a special meeting of stockholders, its stockholders voted to approve the adoption of the merger agreement between Resolute and Cimarex Energy (NYSE:XEC). With the receipt of the required stockholder approval, Resolute and Cimarex expect to close the transaction on March 1, 2019.
- The acquisition of Orbotech (NASDAQ:ORBK) by KLA-Tencor Corporation (NASDAQ:KLAC) on February 20, 2019. It took 338 days for this deal to be completed.
- The acquisition of NxStage Medical by Fresenius Medical Care on February 22, 2019. It took 564 days for this deal to be completed.
- The acquisition of Tahoe Resources (NYSE:TAHO) by Pan American Silver (NASDAQ:PAAS) on February 22, 2019. It took 100 days for this deal to be completed.
- The acquisition of Command Security Corporation (NYSEMKT:MOC) by Prosegur Compañía de Seguridad S.A. on February 22, 2019. It took 157 days for this deal to be completed.
Top 10 deals with largest spreads:
|INUV||11/05/2018||ConversionPoint Technologies, Inc. (N/A)||$2.22||$1.29||06/30/2019||72.09%||210.51%|
|GNW||10/23/2016||China Oceanwide Holdings Group Co., Ltd. (N/A)||$5.43||$4.3||03/15/2019||26.28%||532.88%|
|S||04/29/2018||T-Mobile US, Inc. (NASDAQ:TMUS)||$7.51||$6.44||06/30/2019||16.57%||48.40%|
|CELG||01/03/2019||Bristol-Myers Squibb Company (BMY)||$100.98||$89.14||09/30/2019||13.28%||22.34%|
|STC||03/19/2018||Fidelity National Financial, Inc. (NYSE:FNF)||$47.57||$43.17||06/30/2019||10.19%||29.77%|
|PACB||11/01/2018||Illumina, Inc. (NASDAQ:ILMN)||$8.00||$7.37||06/30/2019||8.55%||24.96%|
|GG||01/14/2019||Newmont Mining Corporation (NEM)||$11.99||$11.13||12/31/2019||7.69%||9.08%|
|OTC:HMTA||10/01/2018||American National Bankshares Inc. (NASDAQ:AMNB)||$15.09||$14.04||03/31/2019||7.44%||79.92%|
|LKSD||10/31/2018||Quad/Graphics, Inc. (NYSE:QUAD)||$9.84||$9.27||06/30/2019||6.12%||17.88%|
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