Merger Arbitrage Mondays – February 14, 2011
Benzinga 15 years ago
Merger activity increased last week with seven new deals announced and five deals closing.
You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours.
Deal Statistics:
| Total Number of Deals Closed in 2011 | 19 |
| Total Number of Pending Deals | |
| Cash Deals | 46 |
| Stock Deals | 19 |
| Stock & Cash Deals | 12 |
| Special Conditions | 1 |
| Total Number of Pending Deals | 78 |
New Deals:
- The acquisition of Pride International (PDE) by Ensco (ESV) for $7.31 billion or 0.4778 newly-issued shares of Ensco plus $15.60 in cash for each share of Pride common stock in a cash plus stock deal.
- The acquisition of Beckman Coulter (BEC) by Danaher Corp (DHR) for $6.8 billion or $83.50 per share in cash.
- The acquisition of Rehabcare Group (RHB) by Kindred Healthhcare (KND) for $877 million or $26 in cash and 0.471 of a Kindred share for each RehabCare share in a cash plus stock deal.
- The acquisition of Retail Ventures (RVI) by DSW Inc (DSW) in an all stock deal where RVI shareholders will receive 0.435 DSW shares per each RVI share held. RVI is a listed company whose only operating business is its 62% stake in DSW.
- The acquisition of XETA Technologies (XETA) by PAETEC Holding Corp (PAET) for $61 million or $5.50 per share in cash. The companies expect the transaction to close within three months.
- The acquisition of Herley Industries (HRLY) by Kratos Defense & Security Solutions (KTOS) for $270 million or $19.00 per share in cash.
- The acquisition of Emergent Group (LZR) by Universal Hospital Services for $70 million or $8.46 per share in cash. The tender offer is expected to commence in March.
Closed Deals:
- The acquisition of Voltaire (VOLT) by Mellanox Technologies (MLNX) on February 07, 2011
- The acquisition of A.D.A.M. Inc. (ADAM) by Ebix Inc. (EBIX) on February 08, 2011
- The acquisition of First Mercury Financial Corporation (FMR) by Fairfax Financial Holdings Limited (FRFHF.PK) on February 09, 2011
- The acquisition of CPI International (CPII) by Veritas Capital on February 11, 2011
- The acquisition of Eurand NV (EURX) by Axcan Intermediate Holdings on February 11, 2011
Deal Updates:
- Chevron (CVX) to pay holders of Atlas Energy (ATLS) an additional 10 cents a share to settle litigation when its $3.59 billion purchase of the natural-gas producer is completed
- Conexant Systems Inc. (CNXT) shares jumped 17% to $2.46 on Tuesday, February 08, 2011 after receiving a takeover offer from Golden Gate Private Equity of $2.35 to $2.45 a share
Top 10 Deals with largest spreads:
| Symbol | Announced Date |
Acquiring Company |
Closing Price |
Last Price |
Closing Date |
Profit | Annu. Profit |
|---|---|---|---|---|---|---|---|
| LTXC | 11/18/2010 | Verigy Ltd (VRGY) | $13.23 | $9.29 | 06/30/2011 | 42.40% | 113.79% |
| TLCR | 06/07/2010 | Grifols (GRF.MC) | $29.47 | $24.93 | 03/31/2011 | 18.21% | 147.74% |
| TAM | 01/19/2011 | LAN Airlines S.A. (LFL) | $25.90 | $22.27 | 09/30/2011 | 16.31% | 26.11% |
| DTG | 04/26/2010 | Avis (CAR) | $55.93 | $51.56 | 03/31/2011 | 8.48% | 68.77% |
| DNBK | 01/20/2011 | People's United Financial Inc. (PBCT) | $23.00 | $21.74 | 06/30/2011 | 5.80% | 15.55% |
| SHMR | 10/15/2010 | Essilor (N/A) | $14.50 | $13.74 | 06/30/2011 | 5.53% | 14.85% |
| NGAS | 12/27/2010 | Magnum Hunter Resources Corp. (MHR) | $0.55 | $0.5265 | 06/30/2011 | 5.41% | 14.52% |
| AAI | 09/27/2010 | Southwest Airlines (LUV) | $7.75 | $7.41 | 03/31/2011 | 4.59% | 37.22% |
| ROME | 10/12/2010 | Berkshire Hills Bancorp (BHLB) | $12.53 | $12.06 | 03/31/2011 | 3.92% | 31.78% |
| MAJC | 09/21/2010 | Bayside Capital Partners (N/A) | $4.50 | $4.35 | 03/31/2011 | 3.45% | 27.97% |
List of all pending deals:
| Symbol | Announced Date |
Acquiring Company |
Deal Type |
Closing Value |
Closing Price |
Last Price |
Volume | Closing
Date |
Profit | Annu. Profit |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| + | LTXC | 11/18/2010 | Verigy Ltd (VRGY) | All Stock | $422 million | $13.23 | $9.29 | 303,626 | 06/30/2011 | 42.40% | 113.79% |
| Details of LTX – Credence Corporation
Expected to close in the second half of 2011 for a closing value of $422 million. On the completion of the merger, LTX – Credence Corporation shareholders will receive 0.96 Verigy shares or Holdco stock for each LTX-Credence share. |
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| + | TLCR | 06/07/2010 | Grifols (GRF.MC) | Cash Plus Stock | $3.4 billion | $29.47 | $24.93 | 786,505 | 03/31/2011 | 18.21% | 147.74% |
| Details of Talecris Expected to close by the end of the year for a closing value of $3.4 billion. On the completion of the merger Grifols will pay $19 in cash and 0.641 newly issued, nonvoting shares for each share of Talecris. The ratio was increased to 0.6485 on November 4, 2010. Update Nov 15: U.S. antitrust regulators might seek to block Grifols�s purchase of Talecris. The expected completion date has been updated to 3/31/2011. |
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| + | TAM | 01/19/2011 | LAN Airlines S.A. (LFL) | All Stock | N/A | $25.90 | $22.27 | 850,295 | 09/30/2011 | 16.31% | 26.11% |
| Details of TAM S.A. Completion of this transaction is expected to take between six to nine months. On the completion of merger TAM shareholders will receive 0.90 shares in LAN for each TAM share they hold. |
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| + | DTG | 04/26/2010 | Avis (CAR) | Cash Plus Stock | $1.56 billion | $55.93 | $51.56 | 459,512 | 03/31/2011 | 8.48% | 68.77% |
| Details of Dollar Thrifty Automotive Group
Details about the original Hertz offer with updates below: Expected to close by the end of the year for a value of $1.3 billion. The transaction values Dollar Thrifty stock at approximately $41.00 per share. the $41.00 per share purchase price is comprised of 80% cash consideration and 20% stock consideration. The cash portion will be paid in two components; (1) a $200 million special cash dividend representing approximately $6.88 per share, to be paid by Dollar Thrifty immediately prior to the transaction closing and (2) $25.92 per share to be paid by Hertz at the closing. The stock is at a fixed exchange ratio of 0.6366 per share, based upon a Hertz common stock closing price of $12.88 per share on April 23, 2010. Update 10/1/2010: Dollar Thrifty shareholders rejected the Hertz deal yesterday. DTG has indicated its willingness to work with Avis's offer of nearly $53 per share ($45.79 in cash plus 0.6543 shares of Avis) but has asked the company to hold off on making a formal offer. |
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| + | DNBK | 01/20/2011 | People's United Financial Inc. (PBCT) | All Cash | $493 million | $23.00 | $21.74 | 243,021 | 06/30/2011 | 5.80% | 15.55% |
| Details of Danvers Bancorp Inc. Expected to close in second quarter of 2011 for $493 million. On the completion of merger. Under the terms of the definitive agreement, which has been approved by both companies' boards of directors, Danvers Bancorp shareholders may elect to receive either $23.00 in cash, or 1.624 shares of People's United Financial stock for each Danvers Bancorp share, subject to customary pro ration provisions, whereby 55% of Danvers Bancorp shares will be exchanged for stock and 45% for cash. |
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| + | SHMR | 10/15/2010 | Essilor (N/A) | All Cash | $130 million | $14.50 | $13.74 | 5,765 | 06/30/2011 |
5.53% |
14.85% |
| Details of Shamir Optical Industry Expected to close by the second quarter of 2011 for a closing value of $130 million. On the completion of the merger, Shamir Optical Industry shareholders will receive $14.50 per share in cash. |
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| + | NGAS | 12/27/2010 | Magnum Hunter Resources Corp. (MHR) | All Stock | $98 million | $0.55 | $0.5265 | 250,230 | 06/30/2011 | 5.41% | 14.52% |
| Details of NGAS Resources Inc.
Expected to close by the end of this year or the first quarter of 2011 for a closing value of $98 million. On the completion of the merger, Monroe Bancorp shareholders Monroe shareholders will receive 0.0846 shares of Magnum Hunter Resources Corp. for every share held. |
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| + | AAI | 09/27/2010 | Southwest Airlines (LUV) | Cash Plus Stock | $1.4 billion | $7.75 | $7.41 | 1,162,660 | 03/31/2011 | 4.59% | 37.22% |
| Details of AirTran Holdings Expected to close in the first quarter of 2011 for a closing value of $1.4 billion. On the completion of the merger, AirTran Holdings Shareholders will receive $3.75 per share in cash and 0.321 share of Southwest stock for each share of AirTran held. Update Nov 2, 2010: The ratio of Southwest shares issued changes based on the price of Southwest's stock and the deal value also varies from $7.25 to $7.75. Specifically as stated in the press release "The number of shares to be issued by Southwest Airlines is subject to adjustment if the average of Southwest Airlines closing prices for the 20 trading days ending three trading days prior to closing is below $10.90 or above $12.46. This adjustment mechanism is intended to provide at least $7.25 in value and up to $7.75 in value per share of AirTran common stock. If the average closing price noted above exceeds $12.46, the value will be $7.75 with fewer shares of Southwest common stock issued. If the average closing price noted above is less than $10.90, the value will be $7.25 with additional shares of Southwest common stock issued. Additionally, Southwest Airlines has the option of substituting cash in lieu of issuing incremental shares if the average closing stock price is less than $10.90." |
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| + | ROME | 10/12/2010 | Berkshire Hills Bancorp (BHLB) | All Stock | $74 million | $12.53 | $12.06 | 957 | 03/31/2011 |
3.92% |
31.78% |
| Details of Rome Bancorp Inc. Expected to close by the first quarter of 2011 for a closing value of $74 million. On the completion of the merger, 70% of the outstanding Rome Bancorp shares will be exchanged for Berkshire Hills Bancorp shares at a fixed exchange ratio of 0.5658 Berkshire Hills Bancorp shares for each share of Rome Bancorp, and the remaining 30% of Rome Bancorp shares will be exchanged for $11.25 per share in cash. |
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| + | MAJC | 09/21/2010 | Bayside Capital Partners (N/A) | All Cash | $7.8 million | $4.50 | $4.35 | 5,000 | 03/31/2011 | 3.45% | 27.97% |
| Details of Majestic Capital
Expected to close in the first quarter of 2011 for a closing value of $7.8 million. On the completion of the merger, Majestic Capital shareholders will receive $0.45 per share in cash. Update Nov 5, 2010: The stock symbol and closing price have been updated to reflect a 1:10 reverse stock split that became effective as of Nov 4, 2010. |
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| + | MEE | 01/29/2011 | Alpha Natural Resources, Inc. (ANR) | Cash Plus Stock | $8.5 billion | $65.13 | $63.09 | 2,405,431 | 06/30/2011 | 3.24% | 8.70% |
| Details of Massey Energy Co. The deal is expected to close in mid-2011 for $8.5 billion. Under the terms of the deal, Massey stockholders will receive 1.025 shares of Alpha common stock and $10.00 in cash for each share they own. |
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| + | LEGC | 12/21/2010 | Berkshire Hills Bancorp (BHLB) | Cash Plus Stock | $108 million | $13.79 | $13.37 | 45,992 | 06/30/2011 | 3.14% | 8.42% |
| Details of Legacy Bancorp Expected to close in the second quarter of 2011 for a closing value of $108 million. On the completion of the merger, Legacy Bancorp shareholders will receive 0.56385 Berkshire common shares plus $1.30 in cash in a cash plus stock deal. |
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| + | MI | 12/17/2010 | BMO Financial Group (BMO) | All Stock | $4.1 billion | $7.61 | $7.38 | 10,542,024 | 07/31/2011 | 3.10% | 6.77% |
| Details of Marshall & Ilsley Corporation
Expected to close before the end of July 2011 for a closing value of $4.1 billion. On the completion of the merger, Marshall and Ilsley shareholders will receive 0.1257 shares of Bank of Montreal per share held. |
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| + | HYC | 11/17/2010 | Verifone Systems (PAY) | All Stock | $485 million | $10.35 | $10.05 | 259,237 | 09/30/2011 | 3.03% | 4.85% |
| Details of Hypercom Corporation Expected to close in the second half of 2011 for a closing value of $485 million in an all stock deal. On the completion of the merger, Hypercom shareholders will receive 0.23 shares of VeriFone stock for each Hypercom share they own. |
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| + | PNNW | 11/12/2010 | City of Nashua (N/A) | All Cash | $138 million | $29.00 | $28.18 | 9,260 | 09/30/2011 | 2.91% | 4.66% |
| Details of Pennichuk Corporation Expected to close in the third quarter of 2011 for a closing value of $138 million. On the completion of the merger, Pennichuck shareholders will receive $29.00 per share in cash. |
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| + | NAL | 08/19/2010 | First Niagara Financial Group (FNFG) | Cash Plus Stock | $1.5 billion | $16.28 | $15.82 | 306,155 | 05/15/2011 |
2.91% |
11.79% |
| Details of New Alliance Bancshares Expected to close in early second quarter of 2011 for a closing value of $1.5 billion. On the completion of the merger, New Alliance shareholders will receive either 1.1 shares of FNFG stock, all cash or cash plus stock. NAL mentioned that the "aggregate consideration is 86% in stock and 14% in cash". The exchange ratio is however fixed at 1.1 shares of FNFG per share of NAL and worked out to $14.09 per share upon announcement of the deal. |
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| + | NOVL | 11/22/2010 | Attachment Corporation (N/A) | All Cash | $2.2 billion | $6.10 | $5.9425 | 4,516,430 | 03/31/2011 | 2.65% | 21.50% |
| Details of Novell Inc.
Expected to close in the first quarter of 2011 for a closing value of $2.2 billion. On the completion of the merger, Novell shareholders will receive $6.10 per share in cash |
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| + | WL | 11/01/2010 | M & T Bank Corporation (MTB) | All Stock | $351 million | $4.62 | $4.50 | 1,599,241 | 06/30/2011 | 2.58% | 6.94% |
| Details of Wilmington Trust Corporation Expected to close in mid-year 2011 for a closing value of $351 million. On the completion of the merger, Wilmington Trust common shareholders will receive 0.051372 shares of M&T common stock in exchange for each share of Wilmington Trust common stock they own . |
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| + | CLFC | 12/09/2010 | Nara Bancorp Inc. (NARA) | All Stock | $285.7 million | $7.80 | $7.60 | 142,580 | 09/30/2011 |
2.58% |
4.13% |
| Details of Center Financial Corporation Expected to close in the third quarter of 2011 for a closing value of $285.7 million. On the completion of the merger, Center Financial shareholders will receive 0.7804 of a share of Nara Bancorp common stock in exchange for each share of Center Financial common stock held. |
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| + | TCM | 11/01/2010 | Hanmax Investment Limited (N/A) | All Cash | N/A | $4.50 | $4.39 | 1,227 | 03/31/2011 | 2.51% | 20.32% |
| Details of Tongjitang Chinese Medicines
Expected to close in the first quarter of 2011. On the completion of the merger, Tongjitang Chinese Medicines shareholders will receive $4.50 per ADS in cash. |
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| + | ACL | 12/15/2010 | Novartis (NVS) | All Cash | $12.9 billion | $168.00 | $164.05 | 1,086,521 | 06/30/2011 | 2.41% | 6.46% |
| Details of Alcon Inc. Expected to close in the first half of 2011 for a closing value of $12.9 billion. On the completion of the merger, Alcon Inc. shareholders will receive $168 per share in cash. The exact exchange ratio and cash contingent value amount will be calculated based upon formulas set forth in the merger agreement. |
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| + | ALY | 08/12/2010 | Seawell (SEAW.OL) | All Stock | $890 million | $7.41 | $7.24 | 746,968 | 03/31/2011 | 2.34% | 18.98% |
| Details of Allis-Chalmers Energy, Inc. Expected to close by the end of the year 2010 for a closing value of $890 million. On the completion of the merger, Allis-Chalmers shareholders will get $4.25 in cash or 1.15 Seawell shares for each shares of Allis-Chalmers, subject to proration if more than 35% of the shares elect to receive cash. Seawell Ltd is registered in the Norwegian OTC system, ticker symbol SEAW. |
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| + | RAE | 01/18/2011 | Vector Capital (N/A) | All Cash | N/A | $1.75 | $1.71 | 137,195 | 06/30/2011 | 2.34% | 6.28% |
| Details of RAE Systems Inc.
Expected to close in second quarter of 2011. On the completion of merger RAE Systems shareholders will receive $1.75 per share in cash. RAE also announced that, concurrent with entering into the Vector Agreement, RAE terminated its previously announced merger agreement with affiliates of Battery Ventures under the terms of the Prior Agreement, and paid a termination fee of $3.39 million to affiliates of Battery Ventures. |
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| + | GAS | 12/07/2010 | AGL Resources Inc. (AGL) | Cash Plus Stock | $2.4 billion | $52.89 | $51.80 | 184,741 | 09/30/2011 | 2.11% | 3.38% |
| Details of Nicor Inc. Expected to close in the third quarter of 2011 for a closing value of $2.4 billion. On the completion of the merger, Nicor shareholders will receive $21.20 in cash and 0.8382 of an AGL Resources share for each Nicor share held. |
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| + | SBIB | 01/18/2011 | Comerica Incorporated (CMA) | All Stock | $1.027 billion | $9.42 | $9.23 | 1,111,530 | 06/30/2011 | 2.03% | 5.45% |
| Details of Sterling Bancshares Inc. Expected to close by mid-year 2011 for a closing value of $1.027 billion. According to the terms of the deal, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock upon closing. |
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| + | PDE | 02/07/2011 | Ensco plc (ESV) | Cash Plus Stock | $7.31 billion | $40.89 | $40.08 | 8,016,364 | 06/30/2011 | 2.02% | 5.42% |
| Details of Pride International Inc.
Expected to close in the second quarter of 2011 for a closing value of $7.31 billion. On the completion of the merger, Pride International shareholders will receive 0.4778 newly-issued Ensco shares plus $15.60 in cash for each Pride common share. |
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| + | RHB | 02/08/2011 | Kindred Healthcare (KND) | Cash Plus Stock | $877 million | $37.36 | $36.64 | 2,271,448 | 06/30/2011 | 1.97% | 5.28% |
| Details of Rehabcare Group Expected to close by June 30, 2011 for a closing value of $877 million in a cash plus stock deal. On the completion of the merger, Rehabcare shareholders will receive $26 in cash and 0.471 of a Kindred share for each RehabCare share. |
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| + | VCGH | 11/10/2010 | Company's chairman of the Board, CEO, President and COO (N/A) | All Cash | $37 million | $2.25 | $2.21 | 16,444 | 03/31/2011 | 1.81% | 14.68% |
| Details of VCG Holding Corporation Expected to close in the first quarter of 2011 for a closing value of $37 million. On the completion of the merger, VCG Holdings shareholders will receive $2.25 per share in cash. |
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| + | XETA | 02/09/2011 | PAETEC Holding Corp (PAET) | All Cash | $61 million | $5.50 | $5.41 | 103,750 | 04/30/2011 |
1.66% |
8.10% |
| Details of XETA Technologies Expected to close within three months for a closing value of $61 million. On the completion of the merger, XETA Technologies shareholders will receive $5.50 per share in cash. |
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| + | PVG | 09/21/2010 | Penn Virginia Resource Partners (PVR) | All Stock | $954 million | $26.28 | $25.86 | 231,308 | 03/31/2011 | 1.64% | 13.29% |
| Details of Penn Virginia GP Holdings
Expected to close by the end of the year for a closing value of $954 million. On the completion of the merger, Penn Virginia GP Holdings unitholders will receive 0.98 units of Penn Virginia Resource Partners per Penn Virginia GP Holdings unit held. |
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| + | SVLF | 02/03/2011 | Cerberus Capital Management (N/A) | All Cash | $94 million | $2.50 | $2.46 | 190,529 | 04/15/2011 | 1.63% | 9.89% |
| Details of Silverleaf Resorts Inc. Expected to close by April 14, 2010 for a closing value of $94 million. On the completion of the merger, Silverleaf Resorts shareholders will receive $2.50 per share in cash. |
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| + | WTNY | 12/22/2010 | Hancock Holding Company (HBHC) | All Stock | $1.5 billion | $13.82 | $13.60 | 1,664,755 | 06/30/2011 | 1.61% | 4.32% |
| Details of Whitney Holding Corporation Expected to close in the second quarter of 2011 for a closing value of $1.5 billion. On the completion of the merger, Whitney Holding Corporation shareholders will receive 0.418 shares of Hancock Holding Company common stock in exchange for each share of Whitney common stock in an all stock deal. |
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| + | PGN | 01/10/2011 | Duke Energy Corporation (DUK) | All Stock | $13.7 billion | $46.61 | $45.90 | 1,349,179 | 12/31/2011 | 1.54% | 1.76% |
| Details of Progress Energy Inc.
Progress Energy's shareholders will receive 2.6125 shares of common stock of Duke Energy in exchange for each share of Progress Energy common stock. Based on Duke Energy's closing share price on Jan. 7, 2011, Progress Energy shareholders would receive a value of $46.48 per share, or $13.7 billion in total equity value. |
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| + | RVI | 02/08/2011 | DSW Inc (DSW) | All Stock | N/A | $17.86 | $17.60 | 853,995 | 06/30/2011 | 1.46% | 3.92% |
| Details of Retail Ventures Inc Expected to close in the second quarter of 2011. On the completion of the merger, Retail Ventures shareholders will receive 0.435 DSW shares per each RVI share. |
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| + | ABBC | 01/26/2011 | Susquehanna Bancshares, Inc. (SUSQ) | All Stock | $273 million | $13.19 | $13.00 | 188,488 | 09/30/2011 | 1.44% | 2.30% |
| Details of Abington Bancorp Inc. Expected to close in third quarter of 2011 for $273 million. Under terms of the agreement, Abington shareholders will receive 1.32 shares of Susquehanna common stock for each share of Abington common stock on the completion of merger. |
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| + | BUCY | 11/15/2010 | Caterpillar Inc (CAT) | All Cash | $8.6 billion | $92.00 | $90.72 | 1,353,168 | 06/30/2011 | 1.41% | 3.79% |
| Details of Bucyrus International Inc
Expected to close by the middle of 2011 for a closing value of $8.6 billion. On the completion of the merger, Bucyrus International shareholders will receive $92 per share in cash. |
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| + | AYE | 02/11/2010 | FirstEnergy (FE) | All Stock | $8.5 billion | $26.51 | $26.20 | 850,442 | 03/31/2011 | 1.17% | 9.49% |
| Details of Allegheny Energy, Inc. Common S Expected to close by March 31, 2011 for a closing value $8.5bn. It is a stock based transaction @ 0.667 share of FE Revision on September 14, 2010: Jefferies & Companies lowers its price target to $23.50, from $24.50. |
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| + | Q | 04/22/2010 | Century Link (CTL) | All Stock | $10.6 billion | $7.50 | $7.419 | 7,320,770 | 04/21/2011 |
1.15% |
6.38% |
| Details of Qwest Communications Internatio Expected to close in the first half of 2011for a value of $10.6bn. Under the terms of the agreement, Qwest shareholders will receive 0.1664 CenturyLink shares for each share of Qwest common stock they own at closing. |
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| + | ID | 09/20/2010 | Safran (N/A) | All Cash | $1.1 billion | $12.00 | $11.87 | 3,358,422 | 03/31/2011 | 1.10% | 8.88% |
| Details of L-1 Identity Solutions Inc
Expected to close in the first quarter of 2011 for a closing value of $1.1 billion. On the completion of the merger, ID shareholders will receive $12 per share in cash. |
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| + | ACV | 09/27/2010 | Unilever PLC (N/A) | All Cash | $3.7 billion | $37.50 | $37.13 | 296,731 | 03/31/2011 | 1.00% | 8.08% |
| Details of Alberto Culver Expected to close in the fourth quarter of 2010 for a closing value of $3.7 billion. On the completion of the merger, Albert Culver shareholders will receive $37.50 per share in cash. |
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| + | CPEX | 01/04/2011 | FCB I Holdings Inc. (N/A) | All Cash | N/A | $27.25 | $27.00 | N/A | 06/30/2010 | 0.93% | 0.00% |
| Details of CPEX Pharmaceuticals, Inc. Expected to close in the second quarter of 2011. On the completion of the merger, CPEX Pharmaceuticals, Inc. shareholders will receive $27.25 per share in cash. |
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| + | BEC | 02/07/2011 | Danaher (DHR) | All Cash | $6.8 billion | $83.50 | $82.78 | 1,320,482 | 06/30/2011 |
0.87% |
2.33% |
| Details of Beckman Coulter Expected to close in the second half of 2011 for a closing value of $6.8 billion. On the completion of the merger, Beckman Coulter shareholders will receive $83.50 per share in cash. |
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| + | NOVA | 01/21/2011 | Surgery Partners (N/A) | All Cash | $214 million | $13.25 | $13.14 | 108,877 | 06/30/2011 | 0.84% | 2.25% |
| Details of NovaMed Inc.
Expected to close in second quarter of 2011 for $214 million. On the completion of merger NovaMed Inc. shareholders will receive 13.25 per share in cash. |
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| + | CADE | 10/06/2010 | Community Bancorp LLC (N/A) | All Cash | $38 million | $2.50 | $2.48 | 21,926 | 03/31/2011 | 0.81% | 6.54% |
| Details of Cadence Financial Corporation Expected to close in the first quarter of 2011 for a closing value of $23.8 million in an all-stock deal. On the completion of the merger, Cadence shareholders will receive receive 0.097 shares of Trustmark common stock for each share of Cadence they hold. Revision on 10/06/2010: Cadence Financial agreed to be acquired by Community Bancorp for $38 million at $2.50 per share in cash, after terminating its previously announced agreement with Trustmark Corporation |
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| + | ATHR | 01/05/2011 | QUALCOMM Incorporated (QCOM) | All Cash | $3.1 billion | $45.00 | $44.71 | 7,880,092 | 06/30/2011 | 0.65% | 1.74% |
| Details of Atheros Communications Inc. Expected to close in the firt half of 2011 for a closing value of $3.1 billion. On the completion of the merger, Atheros Communications Inc. shareholders will receive $45.00 per share in cash. |
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| + | DNEX | 12/13/2010 | Thermo Fisher Scientific Inc. (TMO) | All Cash | $2.1 billion | $118.50 | $117.76 | 55,221 | 03/31/2011 | 0.63% | 5.10% |
| Details of Dionex Corp.
Expected to close in the first quarter of 2011 for a closing value of $2.1 billion. On the completion of the merger, Dionex shareholders will receive $118.50 per share in cash. |
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| + | LZR | 02/07/2011 | Universal Hospital Services (N/A) | All Cash | $70 million | $8.46 | $8.41 | 17,964 | 04/30/2011 | 0.59% | 2.89% |
| Details of Emergent Group Inc. Expected to close within 45 to 90 days for a closing value of $70 million. On the completion of the merger, Emergent Group shareholders will receive $8.46 per share in cash. |
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| + | OCNW | 09/16/2010 | Calix Inc. (CALX) | Cash Plus Stock | $171 million | $9.27 | $9.22 | 65,715 | 12/31/2010 | 0.56% | 0.00% |
| Details of Occam Networks Inc. Expected to complete in the fourth quarter of this year or first quarter of 2011 for $171 million. On the completion of the merger, Occam Networks shareholders will receive approximately $7.75 per share. The deal is a cash plus stock deal with Occam shareholders receiving $3.8337 in cash and 0.2925 shares of Calix. |
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| + | LDSH | 11/17/2010 | Allegheny Technologies (ATI) | Cash Plus Stock | $778 million | $54.74 | $54.46 | 31,770 | 03/31/2011 | 0.51% | 4.16% |
| Details of Ladish Co
Expected to close in early 2011 for a closing value of $778 million. On the completion of the merger, Ladish Co shareholders will receive $24 in cash and 0.4556 share of Allegheny stock for each share held. |
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| + | MIGP | 12/01/2010 | United Fire & Casualty (UFCS) | All Cash | $191 million | $28.25 | $28.11 | 9,821 | 03/31/2011 | 0.50% | 4.04% |
| Details of Mercer Insurance Group Expected to close in the first quarter of 2011 for a closing value of $191 million. On the completion of the merger, Mercer Insurance Group shareholders will receive $28.25 per share in cash. |
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| + | JAS | 12/23/2010 | affiliate of Leonard Green & Partners LP (N/A) | All Cash | $1.6 billion | $61.00 | $60.70 | 307,242 | 06/30/2011 |
0.49% |
1.33% |
| Details of Jo-Ann Stores Inc. Expected to close in the second quarter of 2011 for a closing value of $1.6 billion. On the completion of the merger, Jo-Ann Stores shareholders will receive $61.00 per share in cash. |
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| + | DLM | 11/25/2010 | Kohlberg Kravis Roberts & Co (KKR) | All Cash | $4 billion | $19.00 | $18.92 | 4,194,584 | 03/31/2011 | 0.42% | 3.43% |
| Details of Del Monte Foods Company
Expected to close in the first quarter of 2011 for a closing value of $4 billion. On the completion of the merger, Del Monte Foods shareholders will receive $19 per share in cash. |
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| + | TMRK | 01/27/2011 | Verizon Communications Inc. (VZ) | All Cash | $1.4 billion | $19.00 | $18.93 | 2,453,350 | 03/31/2011 | 0.37% | 3.00% |
| Details of Terremark Worldwide, Inc. Expected to close in first quarter of 2011 for $1.4 billion. On completion of merger Terremark Worldwide, Inc. will receive $19 per share in cash. |
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| + | BJGP | 10/28/2010 | Sanofi – aventis (N/A) | All Cash | $520.6 million | $10.00 | $9.965 | 613,443 | 03/31/2011 | 0.35% | 2.85% |
| Details of BMP Sunstone Corporation Expected to close in the first quarter of 2011 for a closing value of $520.6 million. On the completion of the merger, BMP Sunstone sha | |||||||||||