Sunday, December 30, 2012

The Risk Arbitrage Report for Dec 31, 2012


New Deals:
  • Diodes Inc (DIOD) to acquire BCD Semiconductor Manufacturing Ltd (BCDS).
  • TF Financial Corp (THRD) to acquire Roebling Financial Corp Inc (RBLG).
  • The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group to acquire Duff & Phelps Corp (DUF).
Closed Deals:
Updated Deals:
To Read:

Merger Arbitrage Spreads Dec 31, 2012

The latest stock merger arbitrage spreads:

Sunday, December 23, 2012

The Risk Arbitrage Report for Dec 24, 2012

Lots of new deals to noodle on after a very active week of M&A.  

New Deals:
  • IntercontinentalExchange Inc (ICE) to acquire NYSE Euronext (NYX).
  • Joh. A. Benckiser Group to acquire Caribou Coffee Company Inc (CBOU).
  • Sprint Nextel Corp (S) to acquire Clearwire Corp (CLWR).
  • Oracle Corp (ORCL) to acquire Eloqua Inc (ELOQ).
  • Markel Corp (MKL) to acquire Alterra Capital Holdings Ltd (ALTE).
  • GETCO Holding Company to acquire Knight Capital Group Inc (KCG).
  • Nielsen Holdings NV (NLSN) to acquire Arbitron Inc (ARB).
  • Pinnacle Entertainment Inc (PNK) to acquire Ameristar Casinos Inc (ASCA).
  • Värde Partners to acquire Firstcity Financial Corp (FCFC).
  • Giovanna Parent Limited to acquire Focus Media Holding Ltd (FMCN).
  • Hillman Group Cap (HLM-P) to acquire PAULIN H CL A (PAP-A.TO).
  • Investors Bancorp Inc (ISBC) to acquire Roma Financial Corp (ROMA).
  • Central Valley Community Bancorp (CVCY) to acquire Visalia Community Bank (VSMU).
  • CalAmp Corp to acquire WIRELESS MATRIX (WRX.TO).
  • EQT Infrastructure II to acquire Westway Group Inc (WWAY).
  • Management to acquire Shangpharma Corp (SHP).
Busted Deals:
Closed Deals:
Updated Deals:

Merger Arbitrage Spreads Dec 24, 2012

The latest stock merger arbitrage spreads:

Sunday, December 16, 2012

The Risk Arbitrage Report for Dec 17, 2012

New Deals:
  • Freeport-McMoRan Copper & Gold Inc (FCX) to acquire Plains Exploration & Production Co (PXP).
  • Freeport-McMoRan Copper & Gold Inc (FCX) to acquire McMoRan Exploration Co (MMR).
  • Toronto-Dominion Bank (TD) to acquire Epoch Holding Corp (EPHC).
  • Linden Capital Partners to acquire Young Innovations Inc (YDNT).
  • Honeywell International Inc (HON) to acquire Intermec Inc (IN).
  • Gilead Sciences Inc (GILD) to acquire YM Biosciences Inc (YMI).
  • Siris Capital Group to acquire TNS Inc (TNS).
  • Sequential Brands Group Inc (SQBG) to acquire Heelys Inc (HLYS).
  • Pernix Therapeutics Holdings Inc (PTX) to acquire Somaxon Pharmaceuticals Inc (SOMX).
Closed Deals:
Updated Deals:
To Read:

Merger Arbitrage Spreads Dec 17, 2012

The latest stock merger arbitrage spreads:

Sunday, December 2, 2012

The Risk Arbitrage Report for Dec 3, 2012

New Deals:
  • ConAgra Foods Inc (CAG) to acquire Ralcorp Holdings Inc (RAH).
  • NCR Corp (NCR) to acquire Retalix Ltd (RTLX).
  • Management to acquire Zhongpin Inc (HOGS).
 Closed Deals:
 Updated Deals:
  • Humana Inc (HUM) receives early HSR termination in merger with Metropolitan Health Networks Inc (MDF).
  • Tempur-Pedic International Inc (TPX) received a second request for information under HSR in merger with  Sealy Corp (ZZ).

Merger Arbitrage Spreads Dec 3, 2012

The latest stock merger arbitrage spreads:

Monday, November 26, 2012

The Risk Arbitrage Report for Nov 26, 2012

New Deals:
  • Wright Medical Group Inc (WMGI) to acquire BioMimetic Therapeutics Inc (BMTI).
  • Reckitt Benckiser Group  to acquire Schiff Nutrition International Inc (SHF) as agreement with Bayer is terminated.
  • Actian Corp to acquire Versant Corp (VSNT) as BOD terminates agreement with UNICOM.
Closed Deals:
Updated Deals:

Merger Arbitrage Spreads Nov 26, 2012

The latest stock merger arbitrage spreads:

Sunday, November 18, 2012

The Risk Arbitrage Report for Nov 19, 2012

New Deals:
  • Leucadia National Corp (LUK) to acquire Jefferies Group Inc (JEF).
  • Starbucks Corp (SBUX) to acquire Teavana Holdings Inc (TEA).
  • Parthenon Capital Partners to acquire White River Capital Inc (RVR).
  • Armada Oil Inc (AOIL) to acquire Mesa Energy Holdings Inc (MSEH).
  • Denison Mines Corp (DNN) to acquire JNR Resources Inc (JNRRF).
  • InterMedia Outdoors Holdings to acquire Outdoor Channel Holdings Inc (OUTD).
Closed Deals:
Updated Deals:

Merger Arbitrage Spreads Nov 19, 2012

The latest stock merger arbitrage spreads:

Sunday, November 11, 2012

The Risk Arbitrage Report for Nov 12, 2012

New Deals:
  • Stifel Financial Corp (SF) to acquire KBW Inc (KBW).
  • Humana Inc (HUM) to acquire Metropolitan Health Networks Inc (MDF).
  • PacWest Bancorp (PACW) to acquire First California Financial Group Inc (FCAL).
  • Precision Castparts Corp (PCP) to acquire Titanium Metals Corp (TIE).
  • Sun Pharmaceutical Industries to acquire DUSA Pharmaceuticals Inc (DUSA).
Closed Deals:
Updated Deals:
  • Integrated Device Technology Inc (IDTI) extends tender offer to acquire PLX Technology Inc (PLXT)) to 12/10.
  • Genon Energy Inc (GEN) shareholders approve acquisition by NRG Energy Inc (NRG) .
  • First Reserve Corporation and SK Capital Partners increases offer for TPC Group Inc (TPCG) to $45 from $40.

Merger Arbitrage Spreads Nov 12, 2012

The latest stock merger arbitrage spreads:

Friday, November 2, 2012

The Risk Arbitrage Report for Nov 5, 2012


New Deals:
  • RedPrairie to acquire JDA Software Group Inc (JDAS).
  • Riverbed Technology Inc (RVBD) to acquire OPNET Technologies Inc (OPNT).
  • Bayer AG to acquire Schiff Nutrition International Inc (SHF).
  • PVH Corp (PVH) to acquire Warnaco Group Inc (WRC).
  • Curtiss-Wright Corp (CW) to acquire Williams Controls Inc (WMCO).
  • AmericanWest Bank to acquire Premierwest Bancorp (PRWT).
  • As Seen On TV Inc (ASTV) to acquire eDiets.com Inc (DIET).
Closed Deals:
Updated Deals:
  • Ottawa extends review of CNOOC (CEO) bid for Nexen Inc (NXY) to Dec 10.

Merger Arbitrage Spreads Nov 5, 2012

The latest stock merger arbitrage spreads:

Sunday, October 28, 2012

The Risk Arbitrage Report for Oct 29, 2012

New Deals:
  • McKesson Corp (MCK) to acquire PSS World Medical Inc (PSSI).
  • Permira to acquire Ancestry.Com Inc (ACOM).
  • Toyota Industries Corporation to acquire Cascade Corp (CASC).
  • F.N.B. Corp (FNB) to acquire Annapolis Bancorp Inc (ANNB).
  • BBCN Bancorp Inc (BBCN) to acquire Pacific International Bancorp Inc (PIBW).
  • Polyone Corp (POL) to acquire Spartech Corp (SEH).
Updated Deals:

Merger Arbitrage Spreads Oct 29, 2012

The latest stock merger arbitrage spreads:

Sunday, October 21, 2012

The Risk Arbitrage Report for Oct 22, 2012


New Deals:
  • ASML Holding NY Reg ADR (ASML) to acquire Cymer Inc (CYMI).
  • Exxon Mobil Corp (XOM) to acquire Celtic Exploration Ltd. (CLT.TO).
  • Management to acquire Cybex International Inc (CYBI).
  • Penns Woods Bancorp Inc (PWOD) to acquire Luzerne National Bank Corp (LUZR).
Closed Deals:
Updated Deals:
  • Sidewinder Drilling Inc receives early HSR termination in merger with Union Drilling Inc (UDRL).
  • Cypress Semiconductor Corp (CY) completes tender offer for Ramtron International Corp (RMTR).
  • Canada's broadcast regulator rejects BCE Inc. bid for ASTRAL MEDIA INC. (ACM-A.TO).

Merger Arbitrage Spreads Oct 22, 2012

The latest stock merger arbitrage spreads:

Sunday, October 14, 2012

The Risk Arbitrage Report for Oct 15, 2012

New Deals:
  • NBT Bancorp Inc (NBTB) to acquire Alliance Financial Corp (ALNC).
 Closed Deals:
 Updated Deals:
  • National Oilwell Varco Inc (NOV) received a second request for information under HSR in merger with  Robbins & Myers Inc (RBN).
  • Danaher Corp (DHR) receives early HSR termination in merger with IRIS International Inc (IRIS).
 To Read:

Merger Arbitrage Spreads Oct 15, 2012

The latest stock merger arbitrage spreads:

Sunday, October 7, 2012

The Risk Arbitrage Report for Oct 8, 2012


New Deals:
  • 3M Co (MMM) to acquire Ceradyne Inc (CRDN).
  • UNICOM Systems, Inc to acquire Versant Corp (VSNT).
  • Constellation Software Inc. (CSU.TO) to acquire Computer Software Innovations Inc (CSWI).
Closed Deals:
Updated Deals:
  • Aetna Inc (AET) withdraws and will re-file HSR forms in merger with  Coventry Health Care Inc (CVH).
To Read:

Merger Arbitrage Spreads Oct 8, 2012

The latest stock merger arbitrage spreads:

Sunday, September 30, 2012

The Risk Arbitrage Report for Oct 1, 2012


Here is the last two weeks of deal news.  

New Deals:
  • Danaher Corp (DHR) to acquire IRIS International Inc (IRIS).
  • Medtronic Inc (MDT) to acquire China Kanghui Holdings (KH).
  • Tempur-Pedic International Inc (TPX) to acquire Sealy Corp (ZZ).
  • Cypress Semiconductor Corp (CY) to acquire Ramtron International Corp (RMTR).
  • BGI-Shenzhen to acquire Complete Genomics Inc (GNOM).
  • Nuance Communications Inc (NUAN) to acquire Ditech Networks Inc (DITC).
  • Digital River Inc (DRIV) to acquire LML Payment Systems Inc (LMLP).
  • Sidewinder Drilling Inc to acquire Union Drilling Inc (UDRL).
  • Aquiline Capital Partners LLC to acquire First Investors Financial Services Group Inc (FIFS).
  • Crescent Financial Bancshares Inc (CRFN) to acquire ECB Bancorp Inc (ECBE).
  • Columbia Banking System Inc (COLB) to acquire West Coast Bancorp (WCBO).
  • Management to acquire China Nuokang Bio Pharmaceutical Inc (NKBP).
 Closed Deals:
Updated Deals:
  • Markwins International Corp to acquire Physicians Formula Holdings Inc (FACE) which terminates the agreement with Swander Pace Capital.
  • SAP (SAP) announces that the HSR waiting period has been terminated in planned merger with Ariba Inc (ARBA).

Merger Arbitrage Spreads Oct 1, 2012

The latest stock merger arbitrage spreads:

Monday, September 17, 2012

The Risk Arbitrage Report for Sep 17, 2012




New Deals:
  • Thoma Bravo to acquire Mediware Information Systems Inc (MEDW).
  • FirstMerit Corp (FMER) to acquire Citizens Republic Bancorp Inc (CRBC).
  • Related Companies to acquire KSW Inc (KSW).
  • Old Line Bancshares Inc (OLBK) to acquire WSB Holdings Inc (WSB).

Merger Arbitrage Spreads Sep 17, 2012

The latest stock merger arbitrage spreads:

Sunday, September 9, 2012

The Risk Arbitrage Report for Sep 10, 2012


New Deals:
  • Valeant Pharmaceuticals International Inc (VRX) to acquire Medicis Pharmaceutical Corp (MRX).
  • Realty Income Corp (O) to acquire American Realty Capital Trust Inc (ARCT).
Closed Deals:
 Updated Deals:
  • Fidelity National Financial, Inc. (FNF) increases offer for J Alexander's Corp (JAX) to $14.50 from $13.

Merger Arbitrage Spreads Sep 10, 2012

The latest stock merger arbitrage spreads:

Sunday, September 2, 2012

The Risk Arbitrage Report for Sep 3, 2012



New Deals:
  • International Business Machines Corp (IBM) to acquire Kenexa Corp (KNXA).
  • M&T Bank Corp (MTB) to acquire Hudson City Bancorp Inc (HCBK).
  • First Reserve Corporation and SK Capital Partners to acquire TPC Group Inc (TPCG).
  • Thoma Bravo to acquire Deltek Inc (PROJ).
  • Enstar Group Ltd (ESGR) to acquire Seabright Holdings Inc (SBX).
  • Validus Holdings Ltd (VR) to acquire Flagstone Reinsurance Holdings SA (FSR).
Closed Deals:
  • Sonus Networks Inc (SONS) completes acquisition of Network Equipment Technologies Inc (NWK).
  • Melrose PLC completes acquisition of Elster Group SE (ELT).
Updated Deals:

Merger Arbitrage Spreads Sep 3, 2012

The latest stock merger arbitrage spreads:

Sunday, August 26, 2012

The Risk Arbitrage Report for Aug 27, 2012




New Deals:
  • Hertz Global Holdings Inc (HTZ) to acquire Dollar Thrifty Automotive Group Inc (DTG).
  • FMC Technologies Inc (FTI) to acquire Pure Energy Services Ltd (PUEYF).
  • Aetna Inc (AET) to acquire Coventry Health Care Inc (CVH).
  • Dex One Corp (DEXO) to acquire SuperMedia Inc (SPMD).
  • Mobile Integrated Systems Inc (MIBI) to acquire Quantitative Alpha Trading Inc (QATSF).
  • Health Care REIT Inc (HCN) to acquire Sunrise Senior Living Inc (SRZ).
  • First Pactrust Bancorp Inc (BANC) to acquire The Private Bank of California (PBCA).
  • Rockwood Holdings Inc (ROC) to acquire Talison Lithium Ltd (TLTHF).
  • American Industrial Partners Capital Fund to acquire Presstek Inc (PRST).
Closed Deals:

Merger Arbitrage Spreads Aug 27, 2012

The latest stock merger arbitrage spreads:

Sunday, August 19, 2012

The Risk Arbitrage Report for Aug 20, 2012




New Deals:
  • Tokyo Electron Limited to acquire FSI International Inc (FSII).
  • Management to acquire Yucheng Technologies Ltd (YTEC).
  • Sun Pharmaceutical Industries Ltd. (SUNP) to acquire Taro Pharmaceutical Industries Ltd (TARO).
  • Conmed Corp (CNMD) to acquire Viking Systems Inc (VKNG).
  • Camden Partners Holdings to acquire New Horizons Worldwide Inc (NWRZ).
  • Swander Pace Capital to acquire Physicians Formula Holdings Inc (FACE).
  • Western Alliance Bancorporation (WAL) to acquire Western Liberty Bancorp (WLBC).
 Closed Deals:

Merger Arbitrage Spreads Aug 20, 2012

The latest stock merger arbitrage spreads:

Sunday, August 12, 2012

The Risk Arbitrage Report for Aug 13, 2012



New Deals:
  • Home Depot Inc (HD) to acquire U.S. Home Systems Inc (USHS).
  • SCBT Financial Corp (SCBT) to acquire Savannah Bancorp Inc (SAVB).
  • HiSoft Technology International Ltd (HSFT) to acquire VanceInfo Technologies Inc (VIT).
  • Customers Bancorp Inc (CUUU) to acquire CMS Bancorp Inc (CMSB).
Closed Deals:

Merger Arbitrage Spreads Aug 13, 2012

The latest stock merger arbitrage spreads:

Sunday, August 5, 2012

The Risk Arbitrage Report for Aug 6, 2012


New Deals:
  • Chicago Bridge and Iron Company NV (CBI) to acquire Shaw Group Inc (SHAW).
  • AT&T Inc (T) to acquire NextWave Wireless Ord Shs (WAVE).
  • City Holding Co (CHCO) to acquire Community Financial Corp (CFFC).
Closed Deals:
 Updated Deals:
  • Fidelity National Financial Inc (FNF) increases offer for J Alexander's Corp (JAX) to $13 from $12.
  • Bristol-Myers Squibb Co (BMY) announces that the HSR waiting period has expired in planned merger with Amylin Pharmaceuticals Inc (AMLN).
To Read:

Merger Arbitrage Spreads Aug 6, 2012

The latest stock merger arbitrage spreads:

Sunday, July 29, 2012

The Risk Arbitrage Report for July 30, 2012




New Deals:

  • Apple Inc (AAPL) to acquire AuthenTec Inc (AUTH).
  • Genesee & Wyoming Inc (GWR) to acquire Railamerica Inc (RA).
  • Joh. A. Benckiser to acquire Peet's Coffee & Tea Inc (PEET).
  • DigitalGlobe Inc (DGI) to acquire GeoEye Inc (GEOY).
Closed Deals: Updated Deals:
  • The Linde Group  receives early HSR termination in merger with Lincare Holdings Inc (LNCR).
  • One Equity Partners receives early HSR termination in merger with MModal Inc (MODL).

Merger Arbitrage Spreads Jul 30, 2012

The latest stock merger arbitrage spreads:

Sunday, July 22, 2012

The Risk Arbitrage Report for July 23, 2012


New Deals:
  • NRG Energy Inc (NRG) to acquire Genon Energy Inc (GEN).
  • Glaxosmithkline (GSK) to acquire Human Genome Sciences Inc (HGSI).
  • TPG Capital to acquire Par Pharmaceutical Companies Inc (PRX).
  • Correct Care Solutions to acquire Conmed Healthcare Management Inc (CONM).
  • WesBanco Inc (WSBC) to acquire Fidelity Bancorp Inc (FSBI).
  • Connecticut Water Service Inc (CTWS) to acquire Biddeford & Saco Water Co (BDDD).
  • Synergy Pharmaceuticals Inc (SGYP) to acquire Callisto Pharmaceuticals Inc (CLSP).
Closed Deals:

Merger Arbitrage Spreads Jul 23, 2012

The latest stock merger arbitrage spreads:

Sunday, July 15, 2012

The Risk Arbitrage Report for July 16, 2012


New Deals:
  • WellPoint Inc (WLP) to acquire Amerigroup Corp (AGP).
  • Thomson Reuters Ord Shs (TRI) to acquire FX Alliance Inc (FX).
  • Multiband Corp (MBND) to acquire Mdu Communications International Inc (MDTV).
  • Athene Holding Ltd. to acquire Presidential Life Corp (PLFE).
Busted Deals:
  • Novel Gain Holdings Limited and CACMG Acquisition, Inc. terminates agreement with China Advanced Construction Materials Group Inc (CADC).
 Updated Deals:
  • Standard Microsystems Corp (SMSC) shareholders approve acquisition by Microchip Technology Inc (MCHP).
  • Laboratory Corporation of America Holdings (LH) receives early HSR termination in merger with MEDTOX Scientific Inc (MTOX).

Merger Arbitrage Spreads Jul 16, 2012

The latest stock merger arbitrage spreads:

Sunday, July 8, 2012

The Risk Arbitrage Report for July 9, 2012



Despite a holiday shortened week, companies were busy closing out their previously announced deals as 12 acquisitions were closed.

New Deals:
  • Bristol-Myers Squibb Co (BMY) to acquire Amylin Pharmaceuticals Inc (AMLN).
  • ABC-MART, INC. to acquire Lacrosse Footwear Inc (BOOT).
Closed Deals:
To Read:

Merger Arbitrage Spreads Jul 9, 2012

The latest stock merger arbitrage spreads:

Monday, July 2, 2012

The Risk Arbitrage Report for July 2, 2012


New Deals:
  • Ingram Micro Inc (IM) to acquire Brightpoint Inc (CELL).
  • The Linde Group  to acquire Lincare Holdings Inc (LNCR).
  • Fidelity National Financial Inc (FNF) to acquire J Alexander's Corp (JAX).
  • ArcLight Capital Partners, LLC to acquire Blackwater Midstream Corp (BWMS).
  • Melrose PLC to acquire Elster Group SE (ELT).
  • Management to acquire Fushi Copperweld Inc (FSIN).
Closed Deals:

Merger Arbitrage Spreads Jul 2, 2012

The latest stock merger arbitrage spreads:

Sunday, June 24, 2012

The Risk Arbitrage Report for June 25, 2012


New Deals:
  • Sonus Networks Inc (SONS) to acquire Network Equipment Technologies Inc (NWK).
  • UNICOM Systems, Inc. to acquire Network Engines Inc (NEI).
  • Genesis HealthCare to acquire Sun Healthcare Group Inc (SUNH).
  • The Winthrop Corporation to acquire National Patent Development Corp (NPDV).
Closed Deals:
Updated Deals:
To Read:

Merger Arbitrage Spreads Jun 25, 2012

The latest stock merger arbitrage spreads:

Sunday, June 17, 2012

The Risk Arbitrage Report for June 18, 2012


New Deals:
  • Sagard Capital Partners, L.P. to acquire IntegraMed America Inc (INMD).
  • Thermo Fisher Scientific Inc (TMO) to acquire Princeton Security Technologies Inc (PSGY).
Closed Deals:
To Read:

Merger Arbitrage Spreads Jun 18, 2012

The latest stock merger arbitrage spreads:

Sunday, June 10, 2012

The Risk Arbitrage Report for June 11, 2012


New Deals:
  • Laboratory Corporation of America Holdings (LH) to acquire MEDTOX Scientific Inc (MTOX).
  • Forestar Group Inc (FOR) to acquire Credo Petroleum Corp (CRED).
  • Management to acquire Kenneth Cole Productions Inc (KCP).
  • Synergy Health plc  to acquire Sri surgical Express Inc (STRC).
  • Trillion Energy Holdings to acquire Gushan Environmental Energy Ltd (GU).
  • BNC Bancorp (BNCN) to acquire First Trust Bank (NCFT).
  • Peoples Bancorp Inc (PEBO) to acquire Sistersville Bancorp Inc (SVBC).
  • Westfield Bancorp, Inc. to acquire Western Reserve Bancorp Inc (WRBO).
  • Management to acquire China Transinfo Technology Corp (CTFO).
  • Mercury Computer Systems Inc (MRCY) to acquire Micronetics Inc (NOIZ).
Closed Deals:
Updated Deals:

Merger Arbitrage Spreads Jun 11, 2012

The latest stock merger arbitrage spreads:

Sunday, June 3, 2012

The Risk Arbitrage Report for June 4, 2012



New Deals:
  • Trustmark Corp (TRMK) to acquire Banctrust Financial Group Inc (BTFG).
  • Teledyne Technologies Inc (TDY) to acquire Lecroy Corp (LCRY).
  • GS Capital Partners to acquire Interline Brands Inc (IBI).
  • National Oilwell Varco, Inc. to acquire CE Franklin Ltd (CFK).
  • Sycamore Partners to acquire Talbots Inc (TLB).
  • United Financial Bancorp Inc (UBNK) to acquire New England Bancshares Inc (NEBS).
  • Berkshire Hills Bancorp Inc (BHLB) to acquire Beacon Federal Bancorp Inc (BFED).
  • Verizon Communications Inc (VZ) to acquire HUGHES Telematics Inc (HUTC).
Busted Deals:
Closed Deals:
Updated Deals: