Merger Arbitrage (Beta)

Note: You can sort the following table by clicking on Profit, Annualized Profit, Announced Date and Closing Date.

  Symbol Announced Date Acquiring
Company
Deal
Type
Clo.
Value
Clo.
Price
Last
Price
Volume Clo.
Date
Profit Annu.
Profit
VSLR 07/20/2015 SunEdison, Inc. (SUNE) Special Conditions $2.2 billion $16.50 $11.96 28,691 12/31/2015 37.96% 113.57%
Details of Vivint Solar, Inc.:

Expected to close in the fourth quarter for a closing value of $2.2 billion in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. Under the merger agreement, Vivint Solar stockholders will receive $16.50 per share, consisting of $9.89 per share in cash, $3.31 per share in SunEdison stock, and $3.30 per share in SunEdison convertible notes.

The number of SunEdison shares to be received by Vivint Solar stockholders in the merger will be determined based upon the volume weighted average price per share of SunEdison common stock for the 30 consecutive trading days ending on (and including) the third trading day immediately prior to completion of the merger (the “Measurement Price”), subject to a collar. As a result of the collar, Vivint Solar stockholders will receive no more than 0.120 shares of SunEdison common stock and no less than 0.098 shares for each of their Vivint Solar shares. As part of the merger consideration, Vivint stockholders also will receive five-year notes convertible into SunEdison shares, which will be issued by SunEdison pursuant to an Indenture between SunEdison and a trustee. The convertible notes will be issuable only in registered form without coupons and will be direct, unsecured, senior obligations of SunEdison. The conversion price for these convertible notes will be 140 percent of the Measurement Price (but the Measurement Price may not exceed $33.62 or be lower than $27.51). The convertible notes will bear interest at a rate of 2.25% per year, payable semiannually in arrears in cash.

WPZ 05/13/2015 Williams Companies, Inc. (WMB) Stock $13.8 billion $53.72 $39.61 261,530 09/30/2015 35.62% 433.43%
Details of Williams Partners L.P.:

Expected to close in the third quarter of 2015 for a closing value of $13.8 billion in an all stock deal. Under the terms of the agreement, shareholders of Williams Partners will receive 1.115 of Williams common shares per unit of Williams Partners.

ODP 02/04/2015 Staples, Inc. (SPLS) Cash Plus Stock $6.3 billion $10.33 $7.86 2,730,423 12/31/2015 31.46% 94.13%
Details of Office Depot, Inc.:

Expected to close by the end of the calendar year 2015 for a closing value of $6.3 billion in a cash plus stock deal. Under the terms of the agreement, Office Depot shareholders will receive, for each Office Depot share, $7.25 in cash and 0.2188 of a share in Staples stock at closing.

Update(s)

May 27, 2015: The American Postal Workers Union filed a formal report asking federal anti-trust regulators to strike down Staples' (SPLS) $6.3 billion deal to purchase Office Depot (ODP).

NKA 06/14/2015 Brookfield Infrastructure (N/A) Cash $911.9 million $4.23 $3.34 16,579 12/31/2016 26.65% 19.93%
Details of Niska Gas Storage Partners LLC:

Expected to close in the second half of 2016 for a closing value of $911.9 million. Upon completion of the merger, shareholders of Niska Gas Storage Partners will receive $4.225 per share in cash.

CI 07/24/2015 Anthem, Inc. (ANTM) Cash Plus Stock $54.2 billion $176.85 $140.89 532,841 12/31/2016 25.52% 19.09%
Details of Cigna Corp.:

Expected to close in the second half of 2016 for a closing value of $54.2 billion in a cash plus stock deal. Under the terms of the agreement, Cigna shareholders will receive $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share.

OVTI 04/30/2015 Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd. (N/A) Cash $1.9 billion $29.75 $24.12 125,904 04/30/2016 23.34% 35.06%
Details of OmniVision Technologies, Inc.:

Expected to close in the third or fourth quarter of fiscal year 2016 for a closing value of $1.9 billion or $29.75 per share in cash.

HUM 07/03/2015 Aetna Inc. (AET) Cash Plus Stock $37 billion $222.27 $184.97 135,876 12/31/2016 20.16% 15.08%
Details of Humana Inc.:

Expected to close in the second half of 2016 for a closing value of $37 billion in a cash plus stock deal. Under the terms of the agreement, Humana stockholders will receive $125.00 in cash and 0.8375 Aetna common shares for each Humana share.

POM 04/30/2014 Exelon Corporation (EXC) Cash $7.2 billion $27.25 $22.94 1,002,383 09/30/2015 18.79% 228.59%
Details of Pepco Holdings, Inc.:

Expected to close in the second or third quarter of 2015 for a closing value of $7.2 billion. Upon completion of the merger, shareholders of Pepco Holdings will receive $27.25 per share in cash.

HE 12/03/2014 NextEra Energy, Inc. (NEE) Special Conditions $4.3 billion $33.50 $28.31 87,712 12/31/2015 18.33% 54.85%
Details of Hawaiian Electric Industries Inc.:

Expected to close by the end of the year 2015 for a closing value of $4.3 billion. Upon completion of the merger, shareholders of Hawaiian Electric Industries will receive a $0.50 special dividend, 0.2413 shares of NextEra Energy common stock, and a share in ASB Hawaii valued at $8.00, per share held. In connection with the agreement, HEI plans to spin off ASB Hawaii to HEI shareholders and establish it as an independent publicly traded company, immediately prior to and contingent upon the completion of the combination of HEI with NextEra Energy. 

YDLE 08/10/2015 Envestnet, Inc. (ENV) Special Conditions $590 million $18.88 $16.23 26,890 03/31/2016 16.33% 27.98%
Details of Yodlee, Inc.:

Expected to close in the fourth quarter of 2015 or the first quarter of 2016 for a closing value of $590 million in a cash plus stock deal. Upon completion of the merger, shareholders of Yodlee will receive $10.78 per share in cash and $8.10 per share in Envestnet stock. The stock portion of the consideration will be determined based upon the volume weighted average price per share of Envestnet common stock for the 10 consecutive trading days ending on (and including) the second trading day immediately prior to completion of the transaction, subject to a collar of $39.006 to $47.674 per share.

BHI 11/16/2014 Halliburton Company (HAL) Cash Plus Stock N/A $61.57 $54.39 608,748 12/31/2015 13.20% 39.50%
Details of Baker Hughes Incorporated:

Expected to close in the second half of 2015 in a cash plus stock deal. Under the terms of the agreement, shareholders of Baker Hughes will receive 1.12 Haliburton shares plus $19.00 in cash for each share they own.

ALTR 06/01/2015 Intel Corporation (INTC) Cash $16.7 billion $54.00 $48.70 342,361 03/31/2016 10.88% 18.65%
Details of Altera Corp.:

Expected to close within six to nine months for a closing value of $16.7 billion. Upon completion of the merger, shareholders of Altera will receive $54.00 per share in cash.

GAME 04/03/2015 Capitalhold Limited and Capitalcorp Limited (N/A) Cash $1.9 billion $7.10 $6.41 83,177 12/31/2015 10.76% 32.21%
Details of Shanda Games Limited:

Expected to close in the second half of 2015 for a closing value of $1.9 billion. Under the terms of the agreement, the Parent will acquire the Company for cash consideration equal to US$3.55 per ordinary share of the Company (each, an "Ordinary Share") and US$7.10 per American Depositary Share of the Company, each representing two Class A Ordinary Shares (each, an "ADS").

EROC 05/21/2015 Vanguard Natural Resources, LLC (VNR) Stock $614 million $1.67 $1.51 224,900 09/30/2015 10.26% 124.89%
Details of Eagle Rock Energy Partners, L.P.:

Expected to close in the third quarter of 2015 for a closing value of $614 million in an all stock deal. Under the terms of the agreement, shareholders of Eagle Rock Energy Partners will receive 0.185 Vanguard common units per Eagle Rock common unit.

LRE 04/20/2015 Vanguard Natural Resources, LLC (VNR) Stock $539 million $4.95 $4.52 46,042 09/30/2015 9.51% 115.74%
Details of LRR Energy, L.P.:

Expected to close in the third quarter of 2015 for a closing value of $539 million in an all stock deal. Under the terms of the agreement, shareholders of LRR Energy will receive 0.55 Vanguard common units per LRE common unit.

GAS 08/24/2015 Southern Company (SO) Cash $12 billion $66.00 $60.59 401,938 12/31/2016 8.93% 6.68%
Details of AGL Resources Inc.:

Expected to close in the second half of 2016 for a closing value of $12 billion. Upon completion of the merger, shareholders of AGL Resources will receive $66.00 per share in cash.

NPBC 08/17/2015 BB&T Corporation (BBT) Special Conditions $1.8 billion $13.00 $12.01 242,518 06/30/2016 8.24% 9.90%
Details of National Penn Bancshares Inc.:

Expected to close by mid 2016 for a closing value of $1.8 billion. Under the terms of the agreement, National Penn stockholders can elect to receive 0.3206 of a share of BB&T common stock or $13.00 in cash for each share of National Penn common stock, subject to proration such that total consideration will consist of approximately $550 million in cash and approximately 31.6 million BB&T common shares.

MEA 06/16/2015 Total Merchant Limited (N/A) Cash $87 million $0.60 $0.56 43,497 09/16/2015 7.91% 180.53%
Details of Metalico Inc.:

Expected to close in the third quarter of 2015 for a closing value of $87 million. Upon completion of the merger, shareholders of Metalico will receive $0.60 per share in cash.

Update(s)

  1. On July 16, 2015, the company extended the closing date of the deal to September 16, 2015.
GOMO 06/08/2015 Sunflower Parent Limited (N/A) Cash N/A $4.90 $4.55 2,103 12/31/2015 7.69% 23.01%
Details of Sungy Mobile Limited:

Expected to close in the second half of 2015 in a going private transaction. Under the terms of the agreement, shareholders of Sungy Mobile Limited will receive $4.90 per share in cash.

HCBK 08/27/2012 M&T Bank Corporation (MTB) Stock $3.7 billion $9.94 $9.33 612,690 10/31/2015 6.58% 39.38%
Details of Hudson City Bancorp, Inc.:

Expected to close early in the second quarter of 2014 for a closing value of $3.7 billion in an all stock deal. Under the terms of the agreement, shareholders of Hudson City Bancorp will receive consideration valued at 0.08403 of an M&T share in the form of either M&T stock or cash.

Update(s)

On December 9, 2014, Hudson City Bancorp (HCBK) and M&T Bank Corporation (MTB) announced further extension of time to complete the proposed merger to April 30, 2015.

April 6, 2015: Hudson City Bancorp (HCBKannounced today that it had been advised by M&T Bank Corporation (MTB), that the Federal Reserve Board will not act on M&T's merger application before the current termination date of April 30, 2015 provided for in the Agreement and Plan of Merger, as amended, after which either party can terminate the transaction if the closing has not occurred.  As a result, the merger will not close by the previously announced target closing date of May 1, 2015.

April 17, 2015: Hudson City Bancorp (HCBK) and M&T Bank Corporation (MTBannounced that they have agreed to extend the date after which either party may elect to terminate their Agreement and Plan of Merger from April 30, 2015 to October 31, 2015.

TWC 05/26/2015 Charter Communications, Inc. (CHTR) Cash Plus Stock $78.7 billion $197.79 $186.71 355,244 12/31/2015 5.93% 17.75%
Details of Time Warner Cable Inc.:

Expected to close by the end of 2015 for a closing value of $78.7 billion in a cash plus stock deal. Under the terms of the agreement, Charter will provide $100.00 in cash and shares of a new public parent company (“New Charter”) equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. 

In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband Corporation or Liberty Interactive Corporation, who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own.

BRCM 05/28/2015 Avago Technologies Limited (AVGO) Special Conditions $37 billion $54.50 $51.55 677,589 03/31/2016 5.72% 9.81%
Details of Broadcom Corp.:

Expected to close in the first calendar quarter of 2016 for a closing value of $37 billion. Under the terms of the agreement, Broadcom shareholders will have the ability to elect to receive, for each Broadcom share held: (i) $54.50 in cash; (ii) 0.4378 ordinary shares in a newly-formed Singapore holding company (“HoldCo”); (iii) a restricted equity security that is the economic equivalent of 0.4378 ordinary shares of HoldCo that will not be transferable or saleable for a period of one to two years after closing; or (iv) a combination thereof.

PMFG 05/04/2015 CECO Environmental Corp. (CECE) Special Conditions $150 million $6.85 $6.52 1,033 09/30/2015 5.06% 61.58%
Details of PMFG, Inc.:

Expected to close in the third quarter of 2015 for a closing value of approximately $150 million in a cash plus stock deal. Under the terms of the agreement, PMFG’s shareholders may elect to exchange each share of PMFG common stock for either $6.85 in cash or shares of CECO common stock having an equivalent value based on the volume weighted average trading price of CECO common stock for the 15-trading day period ending on the trading day immediately preceding the closing of the merger, subject to a collar.

We have entered this deal as a "special conditions" deal with a value of $6.85 because the amount of CECO stock PMFG's shareholders will receive remains uncertain at this time.

CAM 08/26/2015 Schlumberger Limited (SLB) Cash Plus Stock $14.8 billion $68.72 $65.44 1,824,578 03/31/2016 5.01% 8.59%
Details of Cameron International Corporation:

Expected to close in the first quarter of 2016 for a closing value of $14.8 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Cameron International will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share.

OWW 02/12/2015 Expedia Inc. (EXPE) Cash $1.6 billion $12.00 $11.43 184,066 12/31/2015 4.99% 14.92%
Details of Orbitz Worldwide, Inc.:

Expected to close in the second half of 2015 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of Orbitz Worldwide will receive $12.00 per share in cash.

RNF 08/10/2015 CVR Partners, LP (UAN) Cash Plus Stock $840 million $14.19 $13.65 26,117 04/30/2016 3.93% 5.91%
Details of Rentech Nitrogen Partners, L.P.:

Expected to close by April 30, 2016 for a closing value of $840 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Rentech Nitrogen Partners will receive 1.04 units of CVR Partners and $2.57 cash for each unit held.

CNL 10/20/2014 Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC) (N/A) Cash $4.7 billion $55.37 $53.33 62,972 12/31/2015 3.83% 11.44%
Details of Cleco Corporation:

Expected to close in the second half of 2015 for a closing value of $4.7 billion. Upon completion of the merger, shareholders of Cleco Corporation will receive $55.37 per share in cash.

ALU 04/15/2015 Nokia Corporation (NOK) Stock $16.6 billion $3.42 $3.29 1,099,291 06/30/2016 3.81% 4.58%
Details of Alcatel-Lucent:

Expected to close in the first half of 2016 for a closing value of $16.6 billion in an all stock deal. Under the terms of the agreement, shareholders of Alcatel-Lucent will receive 0.55 of a new Nokia share for every Alcatel-Lucent share.

HNT 07/02/2015 Centene Corp. (CNC) Cash Plus Stock $6.8 billion $67.26 $64.86 193,347 03/31/2016 3.70% 6.35%
Details of Health Net, Inc.:

Expected to close early in 2016 for a closing value of $6.8 billion in a cash plus stock deal. Under the terms of the agreement, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock. 

METR 08/04/2015 F.N.B. Corporation (FNB) Stock $474 million $29.62 $28.59 3,006 03/31/2016 3.59% 6.14%
Details of Metro Bancorp, Inc.:

Expected to close in the first quarter of 2016 for a closing value of $474 million in an all stock deal. Under the terms of the agreement, shareholders of Metro Bancorp will receive 2.373 shares of FNB common stock for each common share of Metro.

ASBI 06/29/2015 First Merchants Corporation (FRME) Stock $68.8 million $23.49 $22.71 100 12/31/2015 3.42% 10.24%
Details of Ameriana Bancorp:

Expected to close in the fourth quarter of 2015 for a closing value of $68.8 million in an all stock deal. Under the terms of the agreement, shareholders of Ameriana Bancorp will have the right to exchange each Ameriana Bancorp common share held for 0.9037 shares of First Merchants’ common stock.

BAMM 07/13/2015 Anderson Family (N/A) Cash $21 million $3.25 $3.14 3,289 12/31/2015 3.37% 10.09%
Details of Books-A-Million Inc.:

Expected to close by the end of the year for a closing value of $21 million. Upon completion of the merger, shareholders of Books-A-Million will receive $3.25 per share in cash.

SYA 08/11/2015 Sumitomo Life Insurance Company (N/A) Cash $3.8 billion $32.50 $31.45 73,034 05/15/2016 3.34% 4.72%
Details of Symetra Financial Corporation:

Expected to close late in the first quarter or early in the second quarter of 2016 for a closing value of $3.8 billion. Under the terms of the agreement, shareholders of Symetra Financial Corporation will receive $32.00 per share in cash at closing, plus a previously announced special dividend of $0.50 per share in cash, which is payable on August 28, 2015 to Symetra shareholders of record as of August 10, 2015.

TSRE 05/11/2015 Independence Realty Trust, Inc. (IRT) Cash Plus Stock N/A $6.84 $6.62 2,206 09/30/2015 3.32% 40.42%
Details of Trade Street Residential, Inc.:

Expected to close in the third quarter of 2015 in a cash plus stock deal. Under the terms of the agreement, shareholders of Trade Street Residential will receive $3.80 in cash and 0.4108 of newly issued IRT common stock.

IRT has the option to increase the cash portion of the consideration from $3.80 per share up to $4.56 per share of Trade Street common stock with a corresponding decrease in the stock portion of the merger consideration, in which case the exchange ratio will be adjusted to reflect the new consideration mix.

CB 07/01/2015 ACE Limited (ACE) Cash Plus Stock $28.3 billion $124.12 $120.45 196,995 03/31/2016 3.05% 5.22%
Details of The Chubb Corporation:

Expected to close in the first quarter of 2016 for a closing value of $28.3 billion in a cash plus stock deal. Under the terms of the agreement, Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock.

NVSL 06/04/2015 Liberty Bank (N/A) Cash $78 million $11.00 $10.75 100 12/31/2015 2.33% 6.96%
Details of Naugatuck Valley Financial Corporation:

Expected to close in the fourth quarter of 2015 for a closing value of $78 million. Upon completion of the merger, shareholders of Naugatuck Valley Financial Corporation will receive $11.00 per share in cash.

STNR 08/21/2015 affiliate of Catterton (N/A) Cash $834 million $65.00 $63.54 32,762 03/31/2016 2.30% 3.94%
Details of Steiner Leisure Ltd.:

Expected to close in the fourth quarter of 2015 or earli in 2016 for a closing value of $834 million. Upon completion of the merger, shareholders of Steiner Leisure will receive $65.00 per share in cash.

PCP 08/10/2015 Berkshire Hathaway Inc. (BRK-A) Cash $37.2 billion $235.00 $230.21 342,067 03/31/2016 2.08% 3.57%
Details of Precision Castparts Corp.:

Expected to close in the first quarter of 2016 for a closing value of $37.2 billion. Upon completion of the merger, shareholders of Precision Castparts will receive $235.00 per share in cash.

SQBK 03/02/2015 PacWest Bancorp (PACW) Stock $849 million $25.28 $24.83 11,473 12/31/2015 1.83% 5.46%
Details of Square 1 Financial, Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $849 million in an all stock deal. Under the terms of the Agreement, Square 1 stockholders will receive 0.5997 shares of PacWest common stock for each share of Square 1 common stock.

MSO 06/22/2015 Sequential Brands Group, Inc. (SQBG) Special Conditions $353 million $6.15 $6.04 154,331 12/31/2015 1.82% 5.45%
Details of Martha Stewart Living Omnimedia Inc.:

Expected to close in the second half of 2015 for a closing value of $353 million. Upon completion of the merger, shareholders of Martha Stewart Living Omnimedia will receive $6.15 per share in cash.

Under the terms of the merger agreement, each of Sequential and MSLO will merge with and into subsidiaries of a newly formed public holding company (“TopCo”). TopCo will continue as a publicly traded company and be renamed Sequential Brands Group, Inc. Pursuant to the terms of the merger agreement, each share of Sequential common stock will be converted into one share of TopCo common stock. MSLO stockholders will be entitled to elect to receive either (a) $6.15 in cash or (b) a number of shares of TopCo common stock equal to $6.15 divided by the volume weighted average price of Sequential common stock during the five-day period ending on the trading day immediately prior to closing, for each share of MSLO common stock held. The cash and stock elections by MSLO stockholders will be subject to proration in the event of oversubscription.

PRE 08/03/2015 EXOR S.p.A. (N/A) Cash $6.9 billion $140.50 $138.31 104,122 03/31/2016 1.58% 2.71%
Details of PartnerRe Ltd.:

Expected to close in the first quarter of 2016 for a closing value of $6.9 billion. Upon completion of the merger, shareholders of PartnerRe will receive $137.50 per share in cash. PartnerRe common shareholders will also receive a special pre-closing dividend of $3.00 per share in addition to ordinary quarterly dividends through closing.

CYT 07/29/2015 Solvay (N/A) Cash $6.4 billion $75.25 $74.15 489,974 12/31/2015 1.48% 4.44%
Details of Cytec Industries Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $6.4 billion. Upon completion of the merger, shareholders of Cytec Industries will receive $74.25 per share in cash.

OMG 06/01/2015 Apollo Global Management, LLC (APO) Cash N/A $34.00 $33.55 40,798 12/31/2015 1.34% 4.01%
Details of OM Group Inc.:

Expected to close by the end of 2015. Upon completion of the merger, shareholders of OM Group will receive $34.00 per share in cash.

CYN 01/22/2015 Royal Bank of Canada (RY) Cash Plus Stock $5.4 billion $87.85 $86.80 72,452 12/31/2015 1.21% 3.61%
Details of City National Corporation:

Expected to close before the of calendar 2015 for a closing value of $5.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of City National Corporation will receive approximately $47.25 in cash and 0.7489 of an RBC common share for each share of City National common stock.

HME 06/22/2015 an affiliate of Lone Star Funds (N/A) Cash $7.6 billion $75.23 $74.37 90,408 12/31/2015 1.16% 3.46%
Details of Home Properties Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $7.6 billion. Upon completion of the merger, shareholders of Home Properties will receive $75.23 per share in cash.

THOR 07/22/2015 St. Jude Medical Inc. (STJ) Cash $3.4 billion $63.50 $62.79 528,602 12/31/2015 1.13% 3.38%
Details of Thoratec Corp.:

Expected to close in the fourth quarter of 2015 for a closing value of $3.4 billion. Upon completion of the merger, shareholders of Thoratec will receive $63.50 per share in cash.

IPCM 08/04/2015 Team Health Holdings, Inc. (TMH) Cash $1.6 billion $80.25 $79.38 21,055 12/31/2015 1.10% 3.28%
Details of IPC Healthcare, Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of IPC Healthcare will receive $80.25 per share in cash.

SFG 07/23/2015 Meiji Yasuda Life Insurance Company (N/A) Cash $5 billion $115.00 $113.76 55,708 03/31/2016 1.09% 1.87%
Details of StanCorp Financial Group Inc.:

Expected to close in the first quarter og 2015 for a closing value of $5 billion. Upon completion of the merger, shareholders of StanCorp Financial Group will receive $115.00 per share in cash.

ONFC 02/24/2015 Community Bank System Inc. (CBU) Stock $142 million $19.93 $19.74 736 10/31/2015 0.94% 5.62%
Details of Oneida Financial Corp.:

Expected to close in October 2015 for a closing value of $142 million in a cash or stock deal. Under the terms of the agreement, shareholders of Oneida Financial Corp can elect to receive either 0.5635 shares of Community Bank System, Inc. common stock or $20.00 in cash for each share of Oneida Financial Corp. common stock they hold, subject to an overall 60% stock and 40% cash split.

CMLP 05/06/2015 Crestwood Equity Partners LP (CEQP) Stock $7.5 billion $7.59 $7.52 139,012 09/30/2015 0.93% 11.33%
Details of Crestwood Midstream Partners LP:

Expected to close in the third quarter of 2015 for a closing value of $7.5 billion in an all stock deal. Under the terms of the agreement, Crestwood Midstream unitholders will receive 2.75 units of Crestwood Equity for each unit of Crestwood Midstream they own.

LABC 06/18/2015 Home Bancorp, Inc (HBCP) Cash $74.5 millon $24.25 $24.04 100 12/31/2015 0.87% 2.61%
Details of Louisiana Bancorp, Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $74.5 million. Upon completion of the merger, shareholders of Louisiana Bancorp will receive $24.25 per share in cash.

MWE 07/13/2015 MPLX LP (MPLX) Cash Plus Stock $20 billion $56.89 $56.40 157,411 12/31/2015 0.87% 2.59%
Details of MarkWest Energy Partners, L.P.:

Expected to close in the fourth quarter of 2015 for a closing value of $20 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of MarkWest Energy Partners will receive 1.09 MPLX common units and a one-time cash payment of approximately $3.37 per MarkWest common unit.

HCC 06/10/2015 Tokio Marine Holdings, Inc. (N/A) Cash $7.5 billion $78.00 $77.35 480,666 12/31/2015 0.84% 2.51%
Details of HCC Insurance Holdings Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $7.5 billion. Upon completion of the merger, shareholders of HCC Insurance Holdings will receive $78.00 per share in cash.

HILL 08/18/2015 Seagate Technology Public Limited Company (STX) Cash $694 million $9.75 $9.68 370,545 12/31/2015 0.78% 2.32%
Details of Dot Hill Systems Corp.:

Expected to close in the fourth quarter of 2015 for a closing value of $694 million. Upon completion of the merger, shareholders of Dot Hill Systems will receive $9.75 per share in cash.

FSL 03/02/2015 NXP Semiconductors NV (NXPI) Cash Plus Stock $16.7 billion $36.19 $35.92 324,664 12/31/2015 0.76% 2.27%
Details of Freescale Semiconductor, Ltd.:

Expected to close in the second half of calendar 2015 for a closing value of $16.7 billion in a cash plus stock deal. Under the terms of the agreement, Freescale shareholders will receive $6.25 in cash and 0.3521 of an NXP ordinary share for each Freescale common share held at the close of the transaction.

REMY 07/13/2015 BorgWarner Inc. (BWA) Cash $1.2 billion $29.50 $29.29 49,122 12/31/2015 0.72% 2.15%
Details of Remy International, Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $1.2 billion. Upon completion of the merger, shareholders of Remy International will receive $29.50 per share in cash.

TRAK 06/15/2015 Cox Automotive, Inc. (N/A) Cash $4 billion $63.25 $62.81 120,409 09/30/2015 0.70% 8.52%
Details of Dealertrack Technologies, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $4 billion. Upon completion of the merger, shareholders of Dealertrack Technologies will receive $63.25 per share in cash.

NTLS 08/10/2015 Shenandoah Telecommunications Co. (SHEN) Cash $640 million $9.25 $9.19 277,557 03/31/2016 0.65% 1.12%
Details of NTELOS Holdings Corp.:

Expected to close in early 2016 for a closig value of $640 million. Upon completion of the merger, shareholders of NTELOS Holdings will receive $9.25 per share in cash.

XOOM 07/01/2015 PayPal, Inc. (N/A) Cash $890 million $25.00 $24.84 467,198 12/31/2015 0.64% 1.93%
Details of Xoom Corporation:

Expected to close in the fourth quarter of 2015 for a closing value of $890 million. Upon completion of the merger, shareholders of Xoom Corporation will receive $25 per share in cash.

LMNS 06/18/2015 XIO Group (N/A) Cash $510 million $14.00 $13.92 32,294 09/30/2015 0.57% 6.99%
Details of Lumenis Ltd.:

Expected to close in September, 2015 for a closing value of $510 million. Upon completion of the merger, shareholders of Lumenis will receive $14.00 per share in cash.

MRGE 08/06/2015 International Business Machines Corporation (IBM) Cash $1 billion $7.13 $7.09 229,025 12/31/2015 0.56% 1.69%
Details of Merge Healthcare Incorporated:

Expected to close by the end of the year for a closing value of $1 billion. Upon completion of the merger, shareholders of Merger Healthcare will receive $7.13 per share in cash.

KYTH 06/17/2015 Allergan plc (AGN) Cash $2.1 billion $75.00 $74.70 120,924 03/31/2016 0.40% 0.69%
Details of Kythera Biopharmaceuticals, Inc.:

Expected to close in the first quarter of 2016 for a closing value of $2.1 billion. Upon completion of the merger, shareholders of Kythera Biopharmaceuticals will receive $75.00 per share in cash. The fixed-value transaction consideration will be payable 80 percent in cash and 20 percent in new AGN shares issued to KYTHERA shareholders. Since this is a "fixed value" transaction, we are treating it as an all cash deal.

Update(s)

August 5, 2015: Kythera Biopharmaceuticals (KYTH) and Allergan (AGN) announced that that they have amended and restated their merger agreement with respect to Allergan's pending acquisition of KYTHERA to provide for all-cash consideration to KYTHERA's stockholders. Pursuant to the amended and restated agreement, the $75 per share merger consideration to be paid to KYTHERA stockholders will be paid entirely in cash, instead of 80% cash and 20% stock as provided for under the original agreement.

IKAN 08/05/2015 Qualcomm Atheros, Inc. (N/A) Cash $47 million $2.75 $2.74 1,520 12/31/2015 0.36% 1.09%
Details of Ikanos Communications, Inc.:

Expectes to close by the end of the year for a closing value of $47 million. Upoc completion of the merger, shareholders of Ikanos Communications will receive $2.75 per share in cash.

SIAL 09/22/2014 Merck KGaA (N/A) Cash $17 billion $140.00 $139.50 215,502 12/22/2015 0.36% 1.16%
Details of Sigma-Aldrich Corporation:

Expected to close by mid-year 2015 for a closing value of $17 billion. Upon completion of the merger, shareholders of Sigma-Aldrich will receive $140 per share in cash.

SIBC 12/30/2014 First NBC Bank Holding Company (NBCB) Cash $49 million $21.25 $21.18 N/A 06/30/2015 0.33% 0.00%
Details of State Investors Bancorp, Inc.:

Expected to close in the second quarter of 2015 for a closing value of $49 million. Upon completion of the merger, shareholders of State Investors Bancorp will receive $21.25 per share in cash.

MAG 07/27/2015 Columbus McKinnon Corporation (CMCO) Cash $188.9 million $50.00 $49.95 1,403 10/31/2015 0.10% 0.60%
Details of Magnetek Inc.:

Expected to close in 90 days for a closing value of $188.9 million. Upon completion of the merger, shareholders of Magnetek will receive $50.00 per share in cash.

HSP 02/05/2015 Pfizer Inc. (PFE) Cash $17 billion $90.00 $89.96 578,122 12/31/2015 0.04% 0.13%
Details of Hospira Inc.:

Expected to close in the second half of 2015 for a closing value of $17 billion. Upon completion of the merger, shareholders of Hospira will receive $90 per share in cash.

ZU 08/17/2015 Liberty Interactive Corporation (QVCA) Cash Plus Stock $2.4 billion $17.79 $17.82 181,870 12/31/2015 -0.16% -0.47%
Details of zulily, Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $2.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of zulily will receive $9.375 in cash and 0.3098 newly issued shares of QVCA for each zulily share.

TECU 08/05/2015 Mueller Industries, Inc. and Atlas Holdings LLC (N/A) Cash $123 million $5.00 $5.01 19,652 09/30/2015 -0.20% -2.43%
Details of Tecumseh Products Company:

Expected to close in the third quarter of 2015 for a closing value of $123 million. Upon completion of the merger, shareholders of Tecumseh Products Company will receive $5.00 per share in cash.

TW 06/30/2015 Willis Group Holdings Public Limited Company (WSH) Cash Plus Stock $8.7 billion $118.96 $119.32 110,063 12/31/2015 -0.30% -0.90%
Details of Towers Watson & Co.:

Expected to close by December 31, 2015 for a closing value of $8.7 billion in a cash plus stock deal. Under the terms of the agreement, Towers Watson shareholders will receive 2.6490 Willis shares for each Towers Watson share. Towers Watson shareholders will also receive a one-time cash dividend of $4.87 per Towers Watson share pre-closing. Subject to Willis shareholder approval, Willis expects to implement a 2.6490 for one reverse stock split, so that each one Willis share will be converted into 0.3775 Willis Towers Watson shares. If the reverse stock split is approved, Towers Watson shareholders will receive one share of Willis Towers Watson for each Towers Watson share. The merger is not conditioned on Willis shareholder approval of the reverse stock split.

SVLC 07/27/2015 First Majestic Silver Corp. (AG) Cash Plus Stock $118 million $0.94 $0.95 36,915 09/30/2015 -0.91% -11.07%
Details of Silvercrest Mines Inc.:

Expected to close by Sptember, 2015 for a closing value of $118 million in a cash plus stock deal. Under the terms of the agreement, each SilverCrest shareholder will receive 0.2769 common shares of First Majestic plus C$0.0001 in cash for each SilverCrest common share held.

WMGI 10/27/2014 Tornier N.V. (TRNX) Stock $1.72 billion $23.06 $23.30 47,253 09/30/2015 -1.02% -12.47%
Details of Wright Medical Group Inc.:

Expected to close in the third quarter of 2015 for a closing value of $3.3 billion in an all stock deal. Under the terms of the agreement, shareholders of Wright Medical Group will receive 1.0309 ordinary shares of Tornier in exchange for each outstanding share of Wright common stock.

GPT 07/01/2015 Chambers Street Properties (CSG) Stock $2.5 billion $21.88 $22.48 21,939 12/31/2015 -2.66% -7.96%
Details of Gramercy Property Trust Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $2.5 billion in an all stock deal. Under the terms of the agreement, shareholders of Gramercy Property Trusts will receive 3.1898 shares of Chambers Street for each share of Gramercy common stock they own.

PLMT 04/22/2015 United Community Banks, Inc. (UCBI) Stock $240.5 million $18.65 $19.21 2,352 12/31/2015 -2.90% -8.67%
Details of Palmetto Bancshares Inc.:

Expected to close in the fourth quarter of 2015 for a closing value of $240.5 million. Under the terms of the agreement, Palmetto shareholders will have the right to receive $19.25 in cash or 0.97 shares of United common stock, or any combination thereof, for each share of Palmetto common stock. The cash and stock elections are subject to proration to ensure that 30% of the outstanding shares of Palmetto common stock will be exchanged for cash and 70% of the outstanding shares of Palmetto common stock will be exchanged for shares of United common stock in the merger.

ISSI 06/11/2015 Uphill Investment Co (N/A) Cash N/A $21.00 $22.01 52,884 09/30/2015 -4.59% -55.83%
Details of Integrated Silicon Solution Inc.:

Expected to close in the third quarter of 2015. Upon completion of the merger, shareholders of Integrated Silicon Solution will receive $19.25 per share in cash.

Update(s)

May 29, 2015: Integrated Silicon Solution announced that it had entered into an amendment to its previously announced merger agreement with Uphill Investment. Under the terms of the amendment, the merger consideration was increased to $20.00 per share in cash, from the $19.25 per share in cash.

May 29, 2015: Cypress Semiconductor Corporation increased its offer to accquire Integrated Silicon Solution to $20.25 per share beating Uphill Investment Co's increased offer made earlier on Friday. Uphill had raised its original offer to $20 per share from $19.25, to which ISSI had agreed.

June 11, 2015: Integrated Silicon Solution (ISSI) and Uphill Investment amended the Uphill Agreement after ISSI announced yesterday that it had agreed to terms with Cypress Semiconductor (CY) to be acquired for a cash purchase price of $20.25 per share. After considering that the existing offer from Cypress had a lower price than the $21.00 per share provided by the amended Uphill Agreement, the ISSI Board has determined that the proposal from Cypress no longer constitutes, and would not be reasonably expected to lead to a Superior Proposal.

June 29, 2015: Chinese investor group Uphill hiked its buyout offer for Integrated Silicon (ISSI) by $1 to $22 per share, $2.75 above its original offer price, shortly after Cypress Semi (CYhiked its offerto $21.25 per share (while finally agreeing to pay a $19.2M termination fee).

June 27, 2015: Integrated Silicon Solution (ISSI) said that its board has decided that Cypress Semiconductor's (CYrevised buyout offer of $22.60 is not superior to the approximately $738.3 million deal it already has in place with Uphill Investment Co.

FSGI 03/25/2015 Atlantic Capital Bancshares, Inc. (N/A) Cash $160 million $2.35 $2.48 460 10/31/2015 -5.24% -31.37%
Details of First Security Group, Inc.:

Expected to close late in the third quarter or early in the fourth quarter of 2015 for a closing value of approximately $160 million. Upon completion of the merger, shareholders of First Security Group will receive $2.35 per share in cash.

CACQ 12/22/2014 Caesars Entertainment Corporation (CZR) Stock N/A $6.19 $7.16 7,485 03/31/2015 -13.55% 32.34%
Details of Caesars Acquisition Company:

Expectes to close in the first quarter of 2015 in an all stock deal. Under the terms of the agreement, each outstanding share of Caesars Acquisition class A common stock will be exchanged for 0.664 share of Caesars Entertainment common stock.

ALLB 03/03/2015 WSFS Financial Corp. (WSFS) Stock $92 million $7.89 $22.64 100 12/31/2015 -65.15% -194.91%
Details of Alliance Bancorp Inc of Pennsylvania:

Expected to close in the fourth quarter of 2015 for a losing value of $92 million in a cash or stock deal. Under the terms of the agreement, shareholders of Alliance Bancorp will be entitled to elect to receive either 0.28955 shares of WSFS common stock or $22.00 in cash for each common share of Alliance Bancorp, Inc. of Pennsylvania, subject to an overall allocation of exchanged shares into 70% common stock and 30% cash. 

PLL 05/13/2015 Danaher Corp. (DHR) Cash $13.8 billion $127.20 $0.00 N/A 12/31/2015 0.00% 0.00%
Details of Pall Corporation:

Expected to close in calendar 2015 for a closing value of $13.8 billion. Upon completion of the merger, shareholders of Pall Corporation will receive $127.20 per share in cash.