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
ODP 02/04/2015 Staples, Inc. (SPLS) Cash Plus Stock $6.3 billion $10.78 $9.21 10,470,395 12/31/2015 17.09% 28.61%
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.

LRE 04/20/2015 Vanguard Natural Resources, LLC (VNR) Stock $539 million $8.98 $7.96 151,473 09/30/2015 12.83% 37.17%
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.

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 $27.01 465,894 04/30/2016 10.14% 10.92%
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.

HE 12/03/2014 NextEra Energy, Inc. (NEE) Special Conditions $4.3 billion $33.50 $30.59 586,571 12/31/2015 9.51% 15.93%
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. 

EROC 05/21/2015 Vanguard Natural Resources, LLC (VNR) Stock $614 million $3.02 $2.78 1,027,471 09/30/2015 8.67% 25.12%
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.

BHI 11/16/2014 Halliburton Company (HAL) Cash Plus Stock N/A $69.90 $64.60 2,164,548 12/31/2015 8.21% 13.75%
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.

EDS 12/02/2013 Pan Long Company Limited (N/A) Cash $60.1 million $1.78 $1.65 N/A 08/15/2014 7.88% 0.00%
Details of Exceed Company Ltd.:

Expected to close in the third quarter of 2014 for a closing value of $60.1 million. Upon completion of the merger, shareholders of Exceed Company will receive $1.78 per share in cash.

Updates(s)

  1. On October 21, 2014, Exceed company announced that the termination date for the merger agreement has been extended to December 31, 2014. 

May 19, 2015: The company anticipates to complete the Privatization towards the end of the second quarter or early in the third quarter of 2015. 

HCBK 08/27/2012 M&T Bank Corporation (MTB) Stock $3.7 billion $10.26 $9.51 2,041,483 10/31/2015 7.88% 18.32%
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.

PMFG 05/04/2015 CECO Environmental Corp. (CECE) Special Conditions $150 million $6.85 $6.45 82,243 09/30/2015 6.20% 17.96%
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.

GEVA 05/06/2015 Alexion Pharmaceuticals, Inc. (ALXN) Cash Plus Stock $8.4 billion $224.21 $213.99 876,503 06/30/2015 4.77% 51.25%
Details of Synageva BioPharma Corp.:

Expected to close by mid 2015 for a closing value of $8.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Synageva Biopharma will receive $115 in cash and 0.6581 Alexion shares, for each share of Synageva.

ALU 04/15/2015 Nokia Corporation (NOK) Stock $16.6 billion $3.95 $3.77 4,663,698 06/30/2016 4.75% 4.33%
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.

OWW 02/12/2015 Expedia Inc. (EXPE) Cash $1.6 billion $12.00 $11.47 1,517,577 06/30/2015 4.62% 49.61%
Details of Orbitz Worldwide, Inc.:

Expected to close in the second quarter 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.

LNBB 12/15/2014 Northwest Bancshares, Inc. (NWBI) Special Conditions $183.3 million $18.70 $18.02 8,092 06/30/2015 3.77% 40.51%
Details of LNB Bancorp Inc.:

Expected to close in the second quarter of 2015 for a closing value of $183.3 million. Under the terms of the agreement, shareholders of LNB Bancorp will be entitled to elect to receive either 1.461 shares of Northwest Bancshares common stock or $18.70 per share in cash.

DTV 05/18/2014 AT&T, Inc. (T) Special Conditions $48.5 billion $95.00 $91.57 2,688,943 05/31/2015 3.75% 341.80%
Details of DIRECTV:

Expected to close within approximately 12 months for a closing value of $48.5 billion in a stock and cash transaction. Under the terms of the agreement, DIRECTV shareholders will receive $95.00 per share under the terms of the merger, comprised of $28.50 per share in cash and $66.50 per share in AT&T stock. The stock portion will be subject to a collar such that DIRECTV shareholders will receive 1.905 AT&T shares if AT&T stock price is below $34.90 at closing and 1.724 AT&T shares if AT&T stock price is above $38.58 at closing. If AT&T stock price at closing is between $34.90 and $38.58, DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value.

On account of the collar, we are treating this deal as an all cash deal.

Update(s)

May 15, 2015: AT&T (T) and DIRECTV (DTVannounced that they have decided to extend the May 18, 2015 “Termination Date of the Merger Agreement for a short period of time to facilitate obtaining final regulatory approval required to close the merger.

CYN 01/22/2015 Royal Bank of Canada (RY) Cash Plus Stock $5.4 billion $95.17 $92.29 193,132 12/31/2015 3.12% 5.23%
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.

ADNC 04/30/2015 Knowles Corporation (KN) Special Conditions $85 million $5.00 $4.85 143,181 09/30/2015 3.09% 8.96%
Details of Audience, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $85 million. Under the terms of the agreement, Knowles will offer to acquire Audience’s common stock for $5.00 per share, consisting of $2.50 in cash and $2.50 in Knowles common stock. The stock portion will be subject to a collar such that Audience stockholders will receive 0.107 of a share of Knowles common stock for each share of Audience common stock if the average Knowles trading price during a specified period preceding closing is equal to or greater than $23.35 or 0.138 of a share of Knowles common stock for each share of Audience common stock if the average Knowles share trading price is less than or equal to $18.16. If the average trading price of Knowles stock during this period is between $18.16 and $23.35, Audience stockholders will receive between 0.107 and 0.138 of a share of Knowles common stock for each share of Audience common stock.

SQBK 03/02/2015 PacWest Bancorp (PACW) Stock $849 million $27.07 $26.37 71,781 12/31/2015 2.66% 4.45%
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.

GAME 04/03/2015 Capitalhold Limited and Capitalcorp Limited (N/A) Cash $1.9 billion $7.10 $6.93 142,880 12/31/2015 2.45% 4.11%
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").

OCR 05/21/2015 CVS Health Corporation (CVS) Cash $12.7 billion $98.00 $95.68 7,487,707 12/31/2015 2.42% 4.06%
Details of Omnicare Inc.:

Expected to close by the end of the year 2015 for a closing value of $12.7 billion. Upon completion of the merger, shareholders of Omnicare will receive $98.00 per share in cash.

CTRX 03/30/2015 OptumRx (N/A) Cash $12.8 billion $61.50 $60.07 1,874,331 12/31/2015 2.38% 3.99%
Details of Catamaran Corporation:

Expected to close in the fourth quarter of 2015 for a closing value of $12.8 billion. Upon completion of the merger, shareholders of Catamaran Corporation will receive $61.50 per share in cash.

CYNI 05/04/2015 Ciena Corporation (CIEN) Stock $400 million $5.19 $5.07 412,374 09/30/2015 2.32% 6.73%
Details of Cyan, Inc.:

Expected to close in the third quarter of 2015 for a closing value of approximately $400 million in an all stock deal. Under the terms of the agreement, shareholders of Cyan will receive consideration equal to 0.224 shares of Cienna common stock. 89% of the consideration will be delivered in Ciena common stock and 11% will be delivered in cash based on the value of Ciena common stock at closing.

We are treating this as an all stock deal with a 0.224 exchange ratio.

TSRE 05/11/2015 Independence Realty Trust, Inc. (IRT) Cash Plus Stock N/A $7.39 $7.24 47,938 09/30/2015 2.13% 6.18%
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.

RVM 03/27/2015 Hecla Mining Co. (HL) Stock $20 million $0.50 $0.49 3,488 06/30/2015 2.08% 22.30%
Details of Revett Mining Company, Inc.:

Expected to close late in the second quarter of 2015 for a closing value of $20 million in an all stock deal. Under the terms of the agreement, each outstanding common share of Revett will be exchanged for 0.1622 of a common share of Hecla.

WPZ 05/13/2015 Williams Companies, Inc. (WMB) Stock $13.8 billion $58.28 $57.11 2,259,896 09/30/2015 2.05% 5.94%
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.

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 $54.29 319,312 12/31/2015 1.99% 3.33%
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.

CMLP 05/06/2015 Crestwood Equity Partners LP (CEQP) Stock $7.5 billion $13.81 $13.54 360,997 09/30/2015 1.96% 5.67%
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.

PLL 05/13/2015 Danaher Corp. (DHR) Cash $13.8 billion $127.20 $124.81 1,445,739 12/31/2015 1.91% 3.21%
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.

HSP 02/05/2015 Pfizer Inc. (PFE) Cash $17 billion $90.00 $88.34 905,636 12/31/2015 1.88% 3.15%
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.

ROSE 05/11/2015 Noble Energy, Inc. (NBL) Stock $2.1 billion $23.93 $23.55 2,598,428 09/30/2015 1.61% 4.67%
Details of Rosetta Resources, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $2.1 billion in an all stock deal. Under the terms of the agreement, shareholders of Rosetta Resources will receive 0.542 of a share of Noble Energy common stock for each share of Rosetta common stock held.

FSL 03/02/2015 NXP Semiconductors NV (NXPI) Cash Plus Stock $16.7 billion $43.92 $43.30 1,598,115 12/31/2015 1.43% 2.40%
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.

MIG 12/30/2014 Fosun International Limited (N/A) Cash $433 million $8.65 $8.53 286,563 12/31/2015 1.41% 2.36%
Details of Meadowbrook Insurance Group Inc.:

Expected to close in the second half of 2015 for a closing value of $433 million. Upon completion of the merger, shareholders of Meadowbrook Insurance Group will receive $8.65 per share in cash.

ADVS 02/02/2015 SS&C Technologies Holdings, Inc. (SSNC) Cash $2.7 billion $44.25 $43.68 325,279 09/30/2015 1.30% 3.78%
Details of Advent Software, Inc.:

Expected to close in the second quarter of 2015 for a closing value of $2.7 billion. Upon completion of the merger, shareholders of Advent Software will receive $44.25 per share in cash.

Update(s)

April 23, 2015: The closing of the merger has been postponed to the second or third quarter of 2015.

MCGC 04/29/2015 PennantPark Floating Rate Capital (PFLT) Special Conditions $175 million $4.75 $4.69 316,402 09/30/2015 1.28% 3.71%
Details of MCG Capital Corporation:

Expected to close in the third calendar quarter of 2015 for a closing value of $175 million. Under the terms of the transaction, MCGC stockholders will receive $4.521 in PFLT shares for each MCGC share, resulting in approximately 11.8 million PFLT shares expected to be issued in exchange for the approximately 36.9 million MCGC shares expected to be outstanding at closing.  Additionally, each MCGC shareholder will receive $0.226 per share in cash from PennantPark Investment Advisers, LLC. To the extent PFLT’s 10-day volume-weighted average price is less than PFLT’s NAV, the Adviser will pay up to an additional $0.25 per PFLT share issued in this transaction.

Update(s)

May 4, 2015: HC2 Holdings (HCHCoffered $5 per share in cash and stock for MCG Capital (MCGC) versus the $4.75 cash bid made last week by PennantPark Floating Rate Capital (PFLT). HC2's offer includes either 0.434 share of HC2 common stock or 0.191 share of a newly created preferred issue, and $0.226 in cash. MCG responded that it's Board of Directors is in consultation with its financial and legal advisers, to review the terms of the proposal submitted by HC2 Holdings.

May 19, 2015: HC2 Holdings (HCHCsubmitted a revised merger proposal to acquire MCG Capital Corporation (MCGC) for $5.25 per share, consisting of (a) a number of shares of HC2 common stock valued at $4.75 (utilizing a floating exchange ratio subject to a customary 15% symmetrical collar that will result in the issuance of between .37 and .50 of a share of HC2 common stock for each share of MCG common stock), and (b) $0.50 in cash. HC2 has delivered what it believes to be a Superior Offer  to the PennantPark (PFLT) Transaction.

MRH 03/31/2015 Endurance Specialty Holdings Ltd. (ENH) Cash Plus Stock $1.83 billion $38.67 $38.19 198,569 09/30/2015 1.25% 3.62%
Details of Montpelier Re Holdings Ltd.:

Expected to close in the third quarter of 2015 for a closing value of $1.83 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Montpelier Re Holdings will receive 0.472 shares of Endurance and $9.89 in cash.

ANN 05/18/2015 Ascena Retail Group Inc. (ASNA) Cash Plus Stock $2.15 billion $47.44 $46.86 2,015,101 12/31/2015 1.23% 2.07%
Details of ANN INC.:

Expected to close in the second half of 2015 for $2.15 billion in a cash plus stock deal. Under the terms of the agreement ANN stockholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in exchange for each share of ANN common stock.

BBNK 03/09/2015 Western Alliance Bancorporation (WAL) Cash Plus Stock $425 million $27.98 $27.65 88,038 12/31/2015 1.20% 2.01%
Details of Bridge Capital Holdings:

Expected to close in the fourth quarter of 2015 for a closing value of $425 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Bridge Capital Holdings will receive 0.8145 of a share of Western Alliance Bancorporation and $2.39 in cash for each share of Bridge common stock owned.

SUSQ 11/12/2014 BB&T Corporation (BBT) Cash Plus Stock $2.5 billion $14.07 $13.90 1,434,436 09/30/2015 1.20% 3.47%
Details of Susquehanna Bancshares, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $2.5 billion in a cash plus tock deal. Under the terms of the agreement, shareholders of Susquehanna Bancshares will receive 0.253 shares of BB&T common stock and $4.05 in cash for each share of Susquehanna common stock.

QLTY 05/06/2015 funds advised by Apax Partners (N/A) Cash $800 million $16.00 $15.82 709,345 09/30/2015 1.14% 3.30%
Details of Quality Distribution Inc.:

Expected to close in the third quarter of 2015 for a closing value of $800 million. Upon completion of the merger, shareholders of Quality Distribution will receive $16.00 per share in cash.

IGTE 04/27/2015 Capgemini (N/A) Cash $4 billion $48.00 $47.48 2,018,079 12/31/2015 1.10% 1.83%
Details of iGATE Corporation:

Expected to close in the second half of 2015 for a closing value of $4 billion. Upon completion of the merger, shareholders of iGATE Corporation will receive $48.00 per share in cash.

PPO 02/23/2015 Asahi Kasei Corporation (AHKSY) Cash $3.2 billion $60.50 $59.85 314,079 09/30/2015 1.09% 3.15%
Details of Polypore International Inc.:

Expected to close in the third quarter of 2015 for a closing value of $3.2 billion. Upon completion of the merger, shareholders of Polypore International will receive $60.50 per share in cash. 

As an integrated step in this transaction, immediately prior to Asahi Kasei’s acquisition of Polypore, 3M Company (MMM) will acquire the assets of Polypore’s Separations Media segment for approximately $1.0 billion and Asahi Kasei will receive the cash proceeds from the asset sale.

QEPM 04/06/2015 Tesoro Logistics LP (TLLP) Stock N/A $17.61 $17.44 3,964 12/31/2015 1.00% 1.67%
Details of QEP Midstream Partners, LP:

Expected to close in 2015. Under the terms of the agreement, QEPM public unitholders will receive 0.3088 TLLP common units for each QEPM Common Unit held.

HBOS 12/10/2014 Renasant Corp. (RNST) Stock $258 million $27.43 $27.17 12,711 09/30/2015 0.95% 2.74%
Details of Heritage Financial Group, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $258 million in an all stock deal. Under the terms of the agreement, shareholders of Heritage Financial Group will receive 0.9266 shares of Renasant common stock for each share of Heritage common stock.

URZ 01/05/2015 Energy Fuels Inc. (UUUU) Stock $150 million $1.15 $1.14 156,355 06/30/2015 0.88% 9.46%
Details of Uranerz Energy Corp.:

Expected to close in the second quarter of 2015 in an all stock deal. Under the terms of the agreement, shareholders of Uranerz Energy will receive 0.255 commin shares of Energy Fuels.

CKSW 04/30/2015 private funds managed by Francisco Partners Management L.P. (N/A) Cash $438 million $12.65 $12.54 308,536 07/31/2015 0.88% 4.93%
Details of ClickSoftware Technologies Ltd.:

Expected to close by July 2015 for a closing value of $438 million. Upon completion of the merger, shareholders of ClickSoftware Technologies will receive $12.65 per share in cash.

POM 04/30/2014 Exelon Corporation (EXC) Cash $7.2 billion $27.25 $27.03 1,145,750 09/30/2015 0.81% 2.36%
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.

MCRL 05/07/2015 Microchip Technology Inc. (MCHP) Special Conditions $839 million $14.00 $13.89 360,699 08/15/2015 0.79% 3.61%
Details of Micrel Inc.:

Expected to close early in the third quarter of 2015 for a closing value of $839 million. Under the terms of the agreement, shareholders of Micrel may elect to receive $14.00 per share in cash or $14.00 per share in Microchip common stock, valued at the average closing sale price for a share of Microchip common stock for the ten most recent trading days ending on the second to last trading day prior to the closing.

ONFC 02/24/2015 Community Bank System Inc. (CBU) Stock $142 million $19.77 $19.63 5,245 07/31/2015 0.73% 4.10%
Details of Oneida Financial Corp.:

Expected to close in July 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.

ZEP 04/08/2015 fund managed by New Mountain Capital, L.L.C. (N/A) Cash $692 million $20.05 $19.92 316,258 09/30/2015 0.65% 1.89%
Details of Zep, Inc.:

Expected to close in the third calendar quarter of 2015 for a closing value of $692 million. Upon completion of the merger, shareholders of Zep will receive $20.05 per share in cash.

AEC 04/22/2015 Brookfield Asset Management Inc. (BAM) Cash $2.5 billion $28.75 $28.57 420,031 12/31/2015 0.63% 1.05%
Details of Associated Estates Realty Corporation:

Expected to close in the second half of 2015 for a closing value of $2.5 billion. Upon completion of the merger, shareholders of Associated Estates Realty Corporation will receive $28.75 per share in cash.

SIAL 09/22/2014 Merck KGaA (N/A) Cash $17 billion $140.00 $139.13 879,367 06/30/2015 0.63% 6.71%
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.

MWV 01/26/2015 Rock-Tenn Company (RKT) Stock $16 billion $51.54 $51.24 1,222,370 06/30/2015 0.59% 6.34%
Details of MeadWestvaco Corporation:

Expected to close in the second calendar quarter of the year 2015 in an all stock deal. Under the terms of the agreement, shareholders of MeadWestvaco Corporation will receive 0.78 shares of Rock-Tenn Company.

INFA 04/07/2015 Permira funds and Canada Pension Plan Investment Board (N/A) Cash $5.3 billion $48.75 $48.49 953,020 09/30/2015 0.54% 1.55%
Details of Informatica Corporation:

Expected to close in the second or third quarter of 2015 for a closing value of $5.3 billion. Upon completion of the merger, shareholders of Informatica Corporation will receive $48.75 per share in cash.

RTI 03/09/2015 Alcoa Inc. (AA) Stock $1.5 billion $36.13 $35.95 579,185 08/15/2015 0.50% 2.28%
Details of RTI International Metals, Inc.:

Expected to close in three to six months in an all stock deal. Under the terms of the agreement, RTI shareholders will receive 2.8315 Alcoa shares for each RTI share.

LO 07/15/2014 Reynolds American Inc. (RAI) Cash Plus Stock $27.4 billion $72.44 $72.12 2,873,650 06/30/2015 0.45% 4.80%
Details of Lorillard, Inc. :

Espected to close in the first half of 2015 for a closing value of $27.4 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Lorillard will receive $50.50 in cash and 0.2909 of a share in RAI stock.

BKYF 09/08/2014 BB&T Corporation (BBT) Cash Plus Stock $363 million $49.49 $49.27 12,828 06/30/2015 0.44% 4.77%
Details of The Bank of Kentucky Financial Corporation:

Expected to close in the second quarter of 2015 for a closing value of $363 million in a cash plus stock deal. Under the terms of the agreement, shareholders of The Bank of Kentucky Financial Corporation will receive 1.0126 shares of BB&T common stock and $9.40 of cash for each share of The Bank of Kentucky stock.

HVB 11/05/2014 Sterling Bancorp. (STL) Stock $539 million $25.75 $25.64 48,995 06/30/2015 0.42% 4.49%
Details of Hudson Valley Holding Corp.:

Expected to close in the second quarter of 2015 for a closing value of $167.09 million in an all stock deal. Under the terms of the agreement, shareholders of Hudson Valley Holding will receive 1.92 shares of Sterling Bancorp for each share of Hudson Valle Holding common stock. 

GTI 05/18/2015 affiliate of Brookfield Asset Management Inc. (N/A) Cash $546 million $5.05 $5.03 4,476,377 07/31/2015 0.40% 2.23%
Details of GrafTech International Ltd.:

Expected to close by the end of July 2015 for a closing value of $546 million. Upon completion of the merger, shareholders of GrafTech International will receive $5.05 per share in cash.

LTM 03/16/2015 Leonard Green & Partners and TPG (N/A) Cash $4 billion $72.10 $71.88 481,112 09/30/2015 0.31% 0.89%
Details of Life Time Fitness, Inc.:

Expected to close in the third quarter of 2015 for a closing value of $4 billion. Upon completion of the merger, shareholders of Life Time Fitness will receive $72.10 per share in cash.

PKT 04/22/2015 private funds managed by Francisco Partners Management, L.P. (N/A) Cash $240 million $11.50 $11.47 236,249 06/30/2015 0.26% 2.81%
Details of Procera Networks, Inc.:

Expected to close in June 2015 for a closing value of $240 million. Upon completion of the merger, shareholders of Procera Networks will receive $11.50 per share in cash.

DOVR 04/14/2015 Webster Capital (N/A) Cash N/A $8.50 $8.48 545 06/30/2015 0.24% 2.53%
Details of Dover Saddlery, Inc.:

Expected to close in the second quarter of fiscal 2015. Upon completion of the merger, shareholders of Dover Saddlery will receive $8.50 per share in cash.

BRDR 05/06/2015 Pitney Bowes (N/A) Cash $395 million $14.00 $13.97 138,065 06/30/2015 0.21% 2.31%
Details of Borderfree, Inc.:

Expected to close in the second quarter of 2015 for a closing value of $395 million. Upon completion of the merger, shareholders of Borderfree will receive $14.00 per share in cash.

XLS 02/06/2015 Harris Corporation (HRS) Cash Plus Stock $4.56 billion $24.73 $24.69 2,664,601 06/30/2015 0.17% 1.81%
Details of Exelis Inc.:

Expected to close in June 2015 for a closing value of $4.56 billion in a cash plus stock deal. Under the terms of the transaction, Exelis shareholders will receive $16.625 in cash and 0.1025 of a share of Harris common stock, for each share of Exelis common stock.

SIBC 12/30/2014 First NBC Bank Holding Company (NBCB) Cash $49 million $21.25 $21.23 100 06/30/2015 0.09% 1.01%
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.

BALT 04/08/2015 Genco Shipping & Trading Limited (GSKNF) Stock N/A $1.53 $1.53 601,944 09/30/2015 0.09% 0.27%
Details of Baltic Trading Limited:

Expected to close in the third quarter of 2015 in an all stock deal. Under the terms of the agreement, Baltic Trading shareholders will receive 0.216 shares of Genco common stock for each share of Baltic Trading common stock.

TEG 06/23/2014 Wisconsin Energy Corp. (WEC) Cash Plus Stock $9.1 billion $72.99 $72.93 242,615 06/30/2015 0.09% 0.95%
Details of Integrys Energy Group, Inc. :

Expected to close in the summer of 2015 for a closing value of $9.1 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Integrys Energy Group will receive common stock at a fixed exchange ratio of 1.128 Wisconsin Energy shares plus $18.50 in cash per Integrys share.

VIAS 09/22/2014 TTM Technologies Inc. (TTMI) Cash Plus Stock $927 million $18.15 $18.14 4,979 06/30/2015 0.05% 0.59%
Details of Viasystems Group, Inc.:

Expected to close in the first half of 2015 for a closing value of $927 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Viasystems will receive per share consideration equal to $11.33 in cash and 0.706 shares of TTM common stock for each Viasystems share.

VYFC 11/17/2014 BNC Bancorp (BNCN) Special Conditions $101.3 million $20.50 $20.50 300 06/30/2015 0.00% 0.00%
Details of Valley Financial Corporation:

Expected to close in the second quarter of 2015 for a closing value of $101.3 million. Under the terms of the agreement, shareholders of Valley Financial Corporation will receive a fixed price of $20.50 for each share of Valley common stock, payable in shares of BNC common stock based upon the 20-day volume weighted average price of BNC common stock prior to the closing of the merger, subject to minimum and maximum exchange ratios. If the VWAP immediately prior to the merger is greater than or equal to $18.50 then each share of Valley common stock shall be converted into 1.1081 shares of BNC common stock. If the VWAP immediately prior to the merger is less than $14.25, then each share of Valley common stock shall be converted into 1.4386 shares of BNC common stock. 

PCYC 03/04/2015 AbbVie Inc. (ABBV) Cash $21 billion $261.25 $261.25 N/A 06/30/2015 0.00% 0.00%
Details of Pharmacyclics Inc.:

Expected to close by mid 2015 for a closing value of $21 billion. Under the terms of this agreement, shareholders of Pharmacyclics will receive $261.25 per share in cash.

WMGI 10/27/2014 Tornier N.V. (TRNX) Stock $1.72 billion $26.90 $26.91 618,322 06/30/2015 -0.05% -0.55%
Details of Wright Medical Group Inc.:

Expected to close in the first half 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.

EXL 04/10/2015 Blackstone Property Partners L.P. (BX) Cash $2 billion $15.85 $15.89 1,114,620 12/31/2015 -0.25% -0.42%
Details of Excel Trust, Inc.:

Expected to close in the second half of 2015 for a closing value of $2 billion. Upon completion of the merger, shareholders of Excel Trust will receive $15.85 per share in cash.

AOL 05/12/2015 Verizon Communications Inc. (VZ) Cash $4.4 billion $50.00 $50.14 3,457,908 06/30/2015 -0.28% -3.00%
Details of AOL Inc.:

Expected to close this summer for a closing value of $4.4 billion. Upon completion of the merger, shareholders of AOL will receive $50.00 per share in cash.

PLMT 04/22/2015 United Community Banks, Inc. (UCBI) Stock $240.5 million $18.24 $18.30 4,369 12/31/2015 -0.35% -0.59%
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.

DRC 09/21/2014 Siemens (N/A) Cash $7.6 billion $83.00 $84.31 552,204 06/30/2015 -1.55% -16.68%
Details of Dresser-Rand Group Inc.:

Expected to close in the summer of 2015 for a closing value of $7.6 billion. Upon completion of the merger, shareholders of Dresser-Rand Group will receive $83.00 per share in cash. Additional per share cash consideration of $0.55 shall be applied on the first day of each month starting March 1, 2015, until the closing occurs.

FSGI 03/25/2015 Atlantic Capital Bancshares, Inc. (N/A) Cash $160 million $2.35 $2.40 34,853 10/31/2015 -2.08% -4.84%
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.

FDO 07/28/2014 Dollar Tree, Inc. (DLTR) Special Conditions $9.2 billion $74.50 $77.79 817,875 05/31/2015 -4.23% -385.93%
Details of Family Dollar Stores Inc.:

Expected to close by early 2015 for a closing value of $9.2 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Family Dollar Stores will receive $59.60 in cash and $14.90 in Dollar Tree stock. The stock portion will be subject to a collar such that Family Dollar shareholders will receive 0.2484 Dollar Tree shares if the average Dollar Tree trading price during a specified period preceding closing is equal to or greater than $59.98 and 0.3036 Dollar Tree shares if this average trading price is less than or equal to $49.08. If the average trading price of Dollar Tree stock during this period is between $49.08 and $59.98, Family Dollar shareholders will receive a number of shares between 0.2484 and 0.3036 equal to $14.90 in value.

ISSI 03/12/2015 a Chinese consortium of investors led by Summitview Capital (N/A) Cash N/A $19.25 $20.16 316,514 09/30/2015 -4.51% -13.08%
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.

CRRC 02/05/2015 R.R. Donnelley & Sons Company (RRD) Cash $261 million $23.00 $24.63 126,887 06/30/2015 -6.62% -71.05%
Details of Courier Corporation:

Expected to close in the second quarter of 2015 for a closing value of $261 million. Upon completion of the merger, shareholders of Courier Corporation will receive $23.00 per share in cash or 1.3756 RR Donnelley common shares.

 

 

CACQ 12/22/2014 Caesars Entertainment Corporation (CZR) Stock N/A $6.59 $7.68 121,299 03/31/2015 -14.15% 90.59%
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 $7.18 $21.30 2,121 12/31/2015 -66.31% -111.03%
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. 

INXN 03/09/2015 Telecity Group plc (TCY.L) Stock N/A $0.04 $30.58 611,219 12/31/2015 -99.88% -167.23%
Details of Interxion Holding NV:

Expected to close in the second half of 2015 in an all stock deal. Under the terms of the agreement, shareholders of Intrexion Holding will receive 2.3386 new TelecityGroup shares per Interxion share.