Merger activity remained steady last week with two new deals announced and five pending deals closing.
|Total Number of Deals Closed in 2019||49|
|Total Number of Deals Not Completed in 2019||1|
|Total Number of Pending Deals|
|Stock & Cash Deals||11|
|Total Number of Pending Deals||63|
|Total Deal Size||$691.05 billion|
- The acquisition of Bluegreen Vacations Corporation (NYSE:BXG) by BBX Capital Corporation (NYSE:BBX) for $1.99 billion or $16.00 per share in cash.
- The acquisition of Nightstar Therapeutics (NASDAQ:NITE) by Biogen (NASDAQ:BIIB) for $567.68 million or $25.50 per share in cash.
- On March 5, 2019, Sinclair Broadcast Group (NASDAQ:SBGI) noted that the Federal Communications Commission released the decision of its Administrative Law Judge dismissing with prejudice the July 19, 2018, Hearing Designation Order related to Sinclair's terminated acquisition of 100% of the issued and outstanding shares of Tribune Media Company (NYSE:TRCO).
- On March 6, 2019, Clementia Pharmaceuticals (NASDAQ:CMTA) announced that it has obtained an interim order from the Québec Superior Court in connection with the previously announced plan of arrangement with Ipsen (OTCPK:IPSEY).
- On March 6, 2019, Bristol-Myers Squibb (NYSE:BMY) urged investors to support its purchase of Celgene (NASDAQ:CELG) amid public resistance from top shareholders.
- On March 7, 2019, Fifth Third Bancorp (NASDAQ:FITB) and MB Financial (NASDAQ:MBFI) jointly announced that Fifth Third Bancorp has received all necessary regulatory approvals for completion of the transactions.
- On March 7, 2019, American National Bankshares (NASDAQ:AMNB) and HomeTown Bankshares Corporation (OTC:HMTA) jointly announced the receipt of regulatory approvals from the Office of the Comptroller of the Currency, the Federal Reserve Bank of Richmond, and the Virginia State Corporation Commission to move forward with the proposed merger of HomeTown with and into American.
- On March 8, 2019, the Federal Communications Commission paused its months-long review of the proposed merger between Sprint (NYSE:S) and T-Mobile U.S. (NASDAQ:TMUS) to examine what it called "significant new information".
- On March 8, 2019, Entegris (NASDAQ:ENTG) and Versum Materials (NYSE:VSM) highlighted additional benefits from their planned all-share merger, while rival bidder Merck KGaA (OTCPK:MKGAY) said it had brought in Goldman Sachs to help with its counter offer.
- The acquisition of Sparton Corporation (NYSE:SPA) by an affiliate of Cerberus Capital Management on March 4, 2019. It took 82 days for this deal to be completed.
- The acquisition of Nevsun Resources (NYSEMKT:NSU) by Zijin Mining Group (OTCPK:ZIJMF) on March 8, 2019. It took 184 days for this deal to be completed.
- The acquisition of Civitas Solutions (NYSE:CIVI) by funds advised by Centerbridge Partners on March 8, 2019. It took 80 days for this deal to be completed.
- The acquisition of Asterias Biotherapeutics (NYSEMKT:AST) by BioTime (NYSEMKT:BTX) on March 8, 2019. It took 120 days for this deal to be completed.
- The acquisition of Nutrisystem (NASDAQ:NTRI) by Tivity Health (NASDAQ:TVTY) on March 8, 2019. It took 88 days for this deal to be completed.
Top 10 deals with largest spreads:
|INUV||11/05/2018||ConversionPoint Technologies, Inc. (N/A)||$2.22||$1.28||06/30/2019||73.44%||241.48%|
|GNW||10/23/2016||China Oceanwide Holdings Group Co., Ltd. (N/A)||$5.43||$3.63||03/15/2019||49.59%||4524.79%|
|CELG||01/03/2019||Bristol-Myers Squibb Company (BMY)||$101.39||$84.46||09/30/2019||20.04%||36.04%|
|S||04/29/2018||T-Mobile US, Inc. (TMUS)||$7.25||$6.10||06/30/2019||18.78%||61.77%|
|STC||03/19/2018||Fidelity National Financial, Inc. (NYSE:FNF)||$47.66||$42.69||06/30/2019||11.64%||38.29%|
|PACB||11/01/2018||Illumina, Inc. (NASDAQ:ILMN)||$8.00||$7.29||06/30/2019||9.74%||32.03%|
|LKSD||10/31/2018||Quad/Graphics, Inc. (NYSE:QUAD)||$7.64||$7.16||06/30/2019||6.67%||21.93%|
|GPIC||11/27/2018||Angel Holdings Godo Kaisha (N/A)||$13.75||$13.2||06/30/2019||4.17%||13.70%|
|TISA||02/04/2019||Thoma Bravo (N/A)||$0.86||$0.8302||03/31/2019||3.59%||65.51%|
Disclosure: I am/we are long CELG, BMY, FNSR. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: Disclaimer: I hold long positions in Celgene, Bristol-Myers Squibb and Finisar. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.