Sunday, August 20, 2017

The Risk Arbitrage Report for Aug 21, 2017


New Deals:
  • Energy Capital Partners to acquire Calpine Corporation (CPN).
  • Nabors Industries Ltd. (NBR) to acquire Tesco Corporation (USA) (TESO).
  • Neff Corp (NEFF) agrees to be acquired by United Rentals, Inc. (URI) and terminates deal with H&E Equipment Services, Inc.  (HEES).
  • Andeavor Logistics LP (ANDX) to acquire Western Refining Logistics LP (WNRL).
  • CenterState Banks Inc (CSFL) to acquire Sunshine Bancorp Inc (SBCP).
Closed Deals:
  • Sabra Health Care REIT Inc (SBRA) completes acquisition of Care Capital Properties Inc (CCP).
  • H.I.G. Capital, LLC completes acquisition of NCI Inc (NCIT).
  • ADVA Optical Networking (ADVOF) completes acquisition of MRV Communications, Inc. (MRVC).
  • Steel Partners Ltd completes acquisition of Ore Holdings Inc (ORXE).
  • Citizens Community Bancorp Inc (CZWI) completes acquisition of Wells Financial Corp. (WEFP).
  • HCBF Holding Company completes acquisition of Jefferson Bankshares (JFBF).

Merger Arbitrage Spreads Aug 21, 2017

The latest stock merger arbitrage spreads:

Sunday, August 13, 2017

The Risk Arbitrage Report for Aug 14, 2017

New Deals:
  • Wabash National Corp (WNC) to acquire Supreme Industries, Inc. (STS).
  • Fresenius Medical Care (FMS) to acquire NxStage Medical, Inc. (NXTM).
  • Invitation Homes Inc (INVH) to acquire Colony Starwood Homes (SFR).
  • Arsenal Capital Partners to acquire Cyalume Technologies Holdings, (CYLU).
  • Pacific Premier Bancorp, Inc. (PPBI) to acquire Plaza Bancorp (PLZZ).
Closed Deals:
  • Golden Gate Capital completes acquisition of Neustar Inc (NSR).
  • Equifax Inc. (EFX) completes acquisition of ID Watchdog (IDWAF).
  • Enel Group completes acquisition of EnerNOC, Inc. (ENOC).
  • Koninklijke Philips NV (ADR) (PHG) completes acquisition of Spectranetics Corp (SPNC).

Merger Arbitrage Spreads Aug 14, 2017

The latest stock merger arbitrage spreads:

Sunday, August 6, 2017

The Risk Arbitrage Report for Aug 7, 2017

New Deals:
  • Discovery Communications Inc. (DISCA) to acquire Scripps Networks Interactive, (SNI).
  • AE Industrial Partners to acquire CDI Corp. (CDI).
  • InVitae Corp (NVTA) to acquire CombiMatrix Corp (CBMX).
  • Sierra Wireless, Inc. (USA) (SWIR) to acquire Numerex Corp. (NMRX).
  • Providence Bank to acquire CB Financial Corp (CBFA).
  • Bank of Marin Bancorp (BMRC) to acquire Bank of Napa (BNNP).
  • County First Bank (TCFC) to acquire County First Bank (CUMD).
  • Patriot National Bancorp (PNBK) to acquire Prime Bank (PMHV).
Closed Deals:
  • Vista Equity Partners completes acquisition of Xactly Corp (XTLY).
  • Aspen Skiing Company and KSL Capital Partners completes acquisition of Intrawest Resorts Holdings Inc (SNOW).
  • Zoetis Inc (ZTS) completes acquisition of Nexvet Biopharma plc (NVET).
  • Pixelworks, Inc. (PXLW) completes acquisition of ViXS Systems Inc (VXS.TO).
  • First Reserve completes acquisition of Gas Natural Inc (EGAS).
  • Century Communities Inc (CCS) completes acquisition of UCP Inc (UCP).
  • Goldcorp Inc. (USA) (GG) completes acquisition of Exeter Resource Corp (XRA).
  • United Community Banks, Inc. (UCBI) completes acquisition of HCSB Financial Corp (HCFB).

Merger Arbitrage Spreads Aug 7, 2017

The latest stock merger arbitrage spreads:

Sunday, July 30, 2017

The Risk Arbitrage Report for Jul 31, 2017

New Deals:
  • KKR to acquire WebMD Health Corp. (WBMD).
  • Markel Corporation (MKL) to acquire State National Companies Inc (SNC).
  • Mitel Networks Corp (MITL) to acquire ShoreTel Inc (SHOR).
  • Open Text Corp (USA) (OTEX) to acquire Guidance Software, Inc. (GUID).
  • First Financial Bancorp (FFBC) to acquire MainSource Financial Group Inc (MSFG).
  • Mitsubishi Tanabe Pharma Corp to acquire Neuroderm Ltd (NDRM).
  • Valley National Bancorp (VLY) to acquire USAmeriBancorp, Inc. (USAB).
  • Heritage Financial Corp (HFWA) to acquire Puget Sound Bancorp (PUGB).
Busted Deals:
  • Orchestra PrĂ©maman SA (KAZI.PA) terminates agreement with Destination Maternity Corp (DEST).
Closed Deals:
  • British American Tobacco PLC (BTI) completes acquisition of Reynolds American, Inc. (RAI).
  • Icahn Enterprises LP (IEP) completes acquisition of Precision Auto Care (PACI).
  • Open Text Corp (USA) (OTEX) completes acquisition of Covisint Corp (COVS).
  • Donuts Inc completes acquisition of Rightside Group Ltd (NAME).
  • Sientra Inc (SIEN) completes acquisition of Miramar Labs Inc (MRLB).
  • Gurnet Point L.P completes acquisition of Innocoll Holdings PLC (INNL).

Merger Arbitrage Spreads Jul 31, 2017

The latest stock merger arbitrage spreads:

Sunday, July 23, 2017

The Risk Arbitrage Report for Jul 24, 2017


New Deals:
  • BorgWarner (BWA) to acquire Sevcon Inc (SEV).
  • Sizmek Inc to acquire Rocket Fuel Inc (FUEL).
  • Hydro One (H.TO) to acquire Avista Corp (AVA).
  • The Washington Companies to acquire Dominion Diamond Corp (DDC).
  • Associated Banc Corp (ASB) to acquire Bank Mutual Corporation (BKMU).
  • Delmar Bancorp (DBCP) to acquire Liberty Bell Bank (NJ) (LBBB).
  • Select Bancorp Inc (SLCT) to acquire Premara Financial (PARA).
Closed Deals:
  • JAB completes acquisition of Panera Bread Co (PNRA).
  • Paypal Holdings Inc (PYPL) completes acquisition of TIO Networks Corp (TNCGF).
  • Apax Partners completes acquisition of Syneron Medical Ltd. (ELOS).
  • Hytera Communications Co., Ltd. completes acquisition of Norsat International Inc (USA) (NSAT).
  • Virtu Financial Inc (VIRT) completes acquisition of KCG Holdings Inc (KCG).
  • First Merchants Corporation (FRME) completes acquisition of Independent Alliance Banks (IALB).
  • Clean Harbors Inc (CLH) completes acquisition of Lonestar West  [$ in CDN] (LSI.V).
  • Norgine  completes acquisition of Merus Labs International Inc (MSLI).
  • AMPLEXOR International completes acquisition of Sajan, Inc. (SAJA).
  • Northwest Bancorp Inc (NBCT) completes acquisition of CenterPointe Community Bank (CENP).

Merger Arbitrage Spreads Jul 24, 2017

The latest stock merger arbitrage spreads:

Sunday, July 16, 2017

The Risk Arbitrage Report for Jul 17, 2017

New Deals:
  • Cincinnati Bell Inc. (CBB) to acquire Hawaiian Telcom HoldCo Inc (HCOM).
  • H&E Equipment Services, Inc. (HEES) to acquire Neff Corp (NEFF).
Closed Deals:
  • Coach Inc (COH) completes acquisition of Kate Spade & Co (KATE).
Updated Deals:

  • Great Plains Energy Inc (GXP) updates merger consideration in merger with Westar Energy Inc (WR).

Merger Arbitrage Spreads Jul 17, 2017

The latest stock merger arbitrage spreads:

Sunday, July 9, 2017

The Risk Arbitrage Report for Jul 10, 2017


New Deals:
  • Liberty Interactive QVC Group (QVCA) to acquire HSN, Inc. (HSNI).
  • Sycamore Partners to acquire Staples, Inc. (SPLS).
  • EQT Corporation (EQT) to acquire Rice Energy Inc (RICE).
  • H.I.G. Capital, LLC to acquire NCI Inc (NCIT).
  • Forestar Group Inc. (FOR) agrees to be acquired by D.R. Horton, Inc. (DHI) and terminates deal with Starwood Capital Group.
  • Stryker Corporation (SYK) to acquire NOVADAQ Technologies (NVDQ).
  • Steel Partners Holdings LP (SPLP.A) to acquire Handy & Harman Ltd (HNH).
  • Red Ventures to acquire Bankrate Inc (RATE).
  • Canada Pension Plan Investment Board to acquire Parkway Inc (PKY).
  • Greystar Growth and Income Fund to acquire Monogram Residential Trust Inc (MORE).
  • ADVA Optical Networking (ADVOF) to acquire MRV Communications, Inc. (MRVC).
  • Ultra Electronics Holdings plc (ULE.L) to acquire Sparton Corporation (SPA).
  • Koninklijke Philips NV (ADR) (PHG) to acquire Spectranetics Corp (SPNC).
  • Government Properties Income Trust (GOV) to acquire First Potomac Realty Trust (FPO).
  • Pamplona Capital Management to acquire PAREXEL International Corporat (PRXL).
  • Enel Group to acquire EnerNOC, Inc. (ENOC).
  • Steel Partners Ltd to acquire Ore Holdings Inc (ORXE).
  • True Wind Capital Management to acquire ARI Network Services, Inc. (ARIS).
  • Monomoy Capital Partners to acquire West Marine, Inc. (WMAR).
  • Management to acquire Sinovac Biotech Ltd. (SVA).
  • Bank McKenney (VA) (BOMK) to acquire CCB Bankshares (CZYB).
  • OceanFirst Financial Corp. (OCFC) to acquire Sun Bancorp, Inc. /NJ (SNBC).
  • BayCom Corp  (BCML) to acquire Plaza Bank (PZBW).
  • Meridian Bancorp Inc (EBSB) to acquire Meetinghouse Bancorp Inc (MTGB).
Busted Deals:
  • Walgreens Boots Alliance Inc (WBA) terminates agreement with Rite Aid Corporation (RAD).
Closed Deals:

  • First Data Corp (FDC) completes acquisition of CardConnect Corp (CCN).
  • Delek US Holdings, Inc. (DK) completes acquisition of Alon USA Energy, Inc. (ALJ).
  • Alimentation Couche-Tard Inc (ANCUF) completes acquisition of CST Brands Inc (CST).
  • ChemChina completes acquisition of Syngenta AG (ADR) (SYT).
  • Sonaca Group completes acquisition of LMI Aerospace, Inc. (LMIA).
  • AMETEK, Inc. (AME) completes acquisition of MOCON, Inc. (MOCO).
  • ONEOK, Inc. (OKE) completes acquisition of Oneok Partners LP (OKS).
  • Consolidated Communications Ho (CNSL) completes acquisition of FairPoint Communications Inc (FRP).
  • New Mountain Partners completes acquisition of TRC Companies, Inc. (TRR).
  • ACNB Corporation (ACNB) completes acquisition of New Windsor Bancorp (NWID).
  • First Busey Corporation (BUSE) completes acquisition of First Community Financial Partners (FCFP).
  • Southern National Banc. of Virginia (SONA) completes acquisition of Eastern Virginia Bankshares (EVBS).
  • Canadian Imperial Bank of Comm (CM) completes acquisition of PrivateBancorp Inc (PVTB).

Merger Arbitrage Spreads Jul 10, 2017

The latest stock merger arbitrage spreads:

Sunday, June 18, 2017

The Risk Arbitrage Report for Jun 19, 2017


New Deals:
  • Amazon.com, Inc. (AMZN) to acquire Whole Foods Market, Inc. (WFM).
  • Donuts Inc to acquire Rightside Group Ltd (NAME).
  • Sientra Inc (SIEN) to acquire Miramar Labs Inc (MRLB).
  • Fiserv Inc (FISV) to acquire Monitise plc (MONI.L).
  • Equifax Inc. (EFX) to acquire ID Watchdog (IDWAF).
  • Carolina Financial Corp (CARO) to acquire First South Bancorp, Inc. (FSBK).
  • Horizon Bancorp (HBNC) to acquire WOLVERINE BANCORP, INC. (WBKC).
  • First Foundation Inc (FFWM) to acquire Community 1st Bancorp (CFBN).
Closed Deals:

  • Johnson & Johnson (JNJ) completes acquisition of Actelion Ltd [ADR] (ALIOY).
  • Reckitt Benckiser Group completes acquisition of Mead Johnson Nutrition (MJN).
  • ESW Capital completes acquisition of Jive Software Inc (JIVE).
  • Intrexon Corp (XON) completes acquisition of GenVec Inc (GNVC).
  • Marlin Equity Partners completes acquisition of Tangoe, Inc. (TNGO).
  • Savaria Corp (SIS.TO) completes acquisition of Span-America Medical Systems, (SPAN).
  • Midland States Bancorp Inc (MSBI) completes acquisition of Centrue Financial Corp (CFCB).
  • Pinnacle Financial Partners (PNFP) completes acquisition of BNC Bancorp (BNCN).

Merger Arbitrage Spreads Jun 19, 2017

The latest stock merger arbitrage spreads:

Sunday, June 11, 2017

The Risk Arbitrage Report for Jun 12, 2017

New Deals:
  • Open Text Corp (USA) (OTEX) to acquire Covisint Corp (COVS).
  • Digital Realty Trust, Inc. (DLR) to acquire DuPont Fabros Technology, Inc. (DFT).
  • The Carlyle Group and GTCR LLC to acquire Albany Molecular Research, Inc (AMRI).
  • GL Capital Management, Bank of China Group Investment, CDH Investments, Ascendent Capital Partners and Boying  to acquire SciClone Pharmaceuticals, Inc. (SCLN).
Closed Deals:

  • WestRock Co (WRK) completes acquisition of Multi Packaging Solutions (MPSX).
  • Tyson Foods, Inc. (TSN) completes acquisition of AdvancePierre Foods Holdings (APFH).
  • TIAA completes acquisition of EverBank Financial Corp (EVER).

Merger Arbitrage Spreads Jun 12, 2017

The latest stock merger arbitrage spreads:

Sunday, June 4, 2017

The Risk Arbitrage Report for Jun 5, 2017

New Deals:
  • First Data Corp (FDC) to acquire CardConnect Corp (CCN).
  • Praxair, Inc. (PX) to acquire Linde AG (LNEGY).
  • Vista Equity Partners to acquire Xactly Corp (XTLY).
  • ENSCO PLC (ESV) to acquire Atwood Oceanics, Inc. (ATW).
  • Icahn Enterprises LP (IEP) to acquire Precision Auto Care (PACI).
Closed Deals:

  • Sherwin-Williams Co (SHW) completes acquisition of Valspar Corp (VAL).
  • Tesoro Corporation (TSO) completes acquisition of Western Refining, Inc. (WNR).
  • B. Riley Financial Inc (RILY) completes acquisition of FBR & Co (FBRC).
  • Henderson Group plc (HGG.L) completes acquisition of Janus Capital Group Inc (JNS).
  • Home Point Financial Corp completes acquisition of Stonegate Mortgage Corp (SGM).
  • First Interstate Bancsystem In (FIBK) completes acquisition of Cascade Bancorp (CACB).

Merger Arbitrage Spreads Jun 5, 2017

The latest stock merger arbitrage spreads:

Monday, May 29, 2017

The Risk Arbitrage Report for May 29, 2017


New Deals:
  • Clariant (CLZNY) to acquire Huntsman Corporation (HUN).
  • CF Corp (CFCO) to acquire Fidelity & Guaranty Life (FGL).
  • HGGC, LLC to acquire Nutraceutical Int'l Corp. (NUTR).
  • Rayonier Advanced Materials In (RYAM) to acquire Tembec Inc (TMB.TO).
  • Expo Holdings II Ltd to acquire Global Sources Ltd. (Bermuda) (GSOL).
  • Union Bankshares Corp (UBSH) to acquire Xenith Bankshares Inc (XBKS).
  • Horizon Bancorp (HBNC) to acquire Lafayette Community Bancorp (LFYC).
Closed Deals:

  • Harland Clarke Holdings Corp completes acquisition of RetailMeNot Inc (SALE).
  • Veeco Instruments Inc. (VECO) completes acquisition of Ultratech, Inc. (UTEK).
  • Salem Five Bancorp completes acquisition of Georgetown Bancorp Inc (GTWN).

Merger Arbitrage Spreads May 29, 2017

The latest stock merger arbitrage spreads:

Monday, May 22, 2017

The Risk Arbitrage Report for May 22, 2017

New Deals:
  • Thermo Fisher Scientific Inc. (TMO) to acquire Patheon NV (PTHN).
  • Sandy Spring Bancorp Inc. (SASR) to acquire WashingtonFirst Bankshares Inc (WFBI).
  • Pixelworks, Inc. (PXLW) to acquire ViXS Systems Inc (TSE:VXS).
Closed Deals:

  • TDK Corp (ADR) (TTDKY) completes acquisition of InvenSense Inc (INVN).
  • Tecogen Inc (TGEN) completes acquisition of American DG Energy Inc (ADGE).
  • Management completes acquisition of Synutra International, Inc. (SYUT).

Merger Arbitrage Spreads May 22, 2017

The latest stock merger arbitrage spreads:

Sunday, May 14, 2017

The Risk Arbitrage Report for May 15, 2017

New Deals:
  • Straight Path Communications (STRP) agrees to be acquired by Verizon Communications Inc. (VZ) and terminates deal with AT&T Inc.  (T).
  • Apollo Global Management LLC (APO) to acquire West Corp (WSTC).
  • Coach Inc (COH) to acquire Kate Spade & Co (KATE).
  • Sinclair Broadcast Group Inc (SBGI) to acquire Tribune Media Co (TRCO).
  • Sabra Health Care REIT Inc (SBRA) to acquire Care Capital Properties Inc (CCP).
  • Norgine  to acquire Merus Labs International Inc (MSLI).
  • Clean Harbors Inc (CLH) to acquire Lonestar West  (LSI.V).
Busted Deals:
  • Anthem Inc (ANTM) terminates agreement with CIGNA Corporation (CI).
Closed Deals:

  • Boral Limited completes acquisition of Headwaters Inc (HW).
  • Tricon Capital Group completes acquisition of Silver Bay Realty Trust Corp (SBY).
  • MaxLinear, Inc. (MXL) completes acquisition of Exar Corporation (EXAR).
  • Ta Chen Stainless Pipe completes acquisition of Empire Resources Inc (ERS).
  • Community Bank System, Inc. (CBU) completes acquisition of Merchants Bancshares,Inc. (MBVT).

Merger Arbitrage Spreads May 15, 2017

The latest stock merger arbitrage spreads:

Sunday, May 7, 2017

The Risk Arbitrage Report for May 8, 2017


New Deals:
  • Intact Financial Corp (IFCZF) to acquire OneBeacon Insurance Group, Ltd (OB).
  • Avantor to acquire VWR Corp (VWR).
  • Pembina Pipeline Corp (PBA) to acquire Veresen Inc. (FCGYF).
  • Savaria Corp to acquire Span-America Medical Systems (SPAN).
  • First Horizon National Corp (FHN) to acquire Capital Bank Financial Corp (CBF).
  • Seacoast Commerce Banc Holdings (SCBH) to acquire Capital Bank (CBJC).
Closed Deals:

  • Eldorado Resorts Inc (ERI) completes acquisition of Isle of Capri Casinos (ISLE).
  • Sibanye Gold Ltd (ADR) (SBGL) completes acquisition of Stillwater Mining Company (SWC).
  • MainSource Financial Group Inc (MSFG) completes acquisition of FCB Bancorp, Inc (FCBE).
  • Nicolet Bankshares Inc (NCBS) completes acquisition of First Menasha Bancshares (FMBJ).
  • Glacier Bancorp, Inc. (GBCI) completes acquisition of TFB Bancorp (TBBN).

Merger Arbitrage Spreads May 8, 2017

The latest stock merger arbitrage spreads: