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Merger Arbitrage Blog

Category: Mergers

Broadcom Brocade merger spread is becoming tasty

The Broadcom Brocade merger spread is currently at 4.2%. If the merger is completed, investors will get $12.75 per share. The current share price as of 15/9 is $12.23. All regulatory approval had been granted except CFIUS. Application to CFIUS had been withdrawn on 17 Jul 2017 and promptly refiled. Assumming the refiling is on […]

July 2017 Trade Updates #1

Dramatic changes in my portfolio as I continued to trim non-core positions and add to my core positions. Large concentration risks on two main merger plays now but one of them should be completed within 2 months. SOLD Mobileye, Brocade, Fortress Investments, Moneygram, Brookdale Senior Mobileye: With the annoucement from Israeli Tax Authority and a […]

June 2017 Summary & Trade Updates

This month my mark to market performance is +2.9%, mainly helped by $MON and $MBLY while $PF dragged. SOLD Neustar, Abercrombie & Fitch, CST Brands Neustar: The company received CFIUS approval on 13th Jun and when the price reaches $33.45, just $0.05 short of the merger price, I sold all my holdings rather than wait for the deal to […]

Merger Trades Update – Jun 2017

SOLD NXP SEMI, VALSPAR NXP SEMI: One regret that I had was that I didn't manage to accumulate a large position in NXP Semiconductor (NXPI). As readers may recall, NXP Semiconductor is being bought over by Qualcomm for $110 in cash per share. The merger is not anticipated to be completed before Q3 but the […]

Added INVN and TRCO

Hi it has been a long time since i last updated the blog. Since then, the ChemChina/Syngenta merger had been progressing smoothly regulatory clearance from EU, FTC, China and Mexico respectively in April 2017. On 26th April, ChemChina declared that all conditions for the merger had been met and will proceed to complete the transaction […]

Time Inc Buyout Imminent With Suitors Submitting Bids Over $20

A new bidder had reportedly been in the bidding process even as another dropped out. New bidder emerges for Time Inc., report says https://t.co/RRSASmjr7e — MergerPie (@mergerpie) March 10, 2017 WSJ: Najafi/P-E group among bidders for Time https://t.co/YDJhabsEJK $TIME — MergerPie (@mergerpie) March 10, 2017 Bronfman-backed group walks away from Time Inc https://t.co/Islqq5byXG via @FT […]

List of Bass Pro and Cabela Stores in U.S. For Merger Analysis

FTC had requested a second information request from Bass Pro and Cabela regarding the outdoor equipment vendors' merger. This process will usually delay the merger up to another 3 months. 🇺🇸 FTC seeks new info on Cabela's-Bass Pro deal. https://t.co/P6cNMCrVMh — Neil Saunders (@NeilRetail) January 3, 2017   Why did FTC ask for more information? […]

Walgreens Rite Aid New Merger Terms Worse Off For Investors

Walgreens delays Rite Aid deal again, cuts offer price https://t.co/phhGoWEsL7 via @Reuters — MergerPie (@mergerpie) February 1, 2017 The new deal terms add uncertainty: 1. Buyer does not show enough commitment for the deal to go through. Revising terms of a merger deal is always bad, especially when Rite Aid’s business did not deteriorate materially. […]

Walgreens-Rite Aid Merger Roller Coaster Analysis

Last Friday on the 20th Jan, many investors were waiting for the FTC to give their final blessings to the long awaited merger between the 2nd and 3rd largest pharmacy chain stores in the U.S., anticipating that the outgoing FTC commissioners would want to give a decision before the Trump administration comes in. But sometimes […]

Agrochemical Mega-Tieups Updates on Merger Progress

ChemChina and Syngenta had submitted concessions to EU commission according to EU antitrust filings and major news reports. According to sources indicated in the Reuters News report, the concessions are likely to be minor and less than $500 Million in value. These concessions will be addressing products which had little competition in addition to commitments […]

Australian Regulators Approved ChemChina-Syngenta Merger

Below are the approval text from the Australian Competition and Consumer Commission: The Australian Competition and Consumer Commission (ACCC) will not oppose the proposed acquisition by China National Chemical Corporation’s (ChemChina) of Syngenta AG (Syngenta). “The ACCC found that ChemChina would continue to face competition in the supply of crop protection products from a range of […]

Replies to Questionaire from CADE regarding ChemChina-Syngenta Merger

The Brazilian Antitrust authority – CADE is currently probing the ChemChina-Syngenta merger. In order to understand and test if the merger is anti-competitive in the Brazilian market, CADE had sent out questionaires to agricultural chemical suppliers, distributors and end-users. We can learn alot about the agricultural chemical market from the reply and deduce the chances […]

Media Predicts Intense Regulatory Scrutiny for AT&T-Time Warner Merger

As the dust settled following the annoucement of AT&T and Time Warner’s mega merger, leading media publications are coming out with their opinion pieces. Below are some of them. The New York Times’s Leslie Picker and Cecilia Kang wrote that : AT&T and Time Warner may face a sterner scrutiny than the Comcast-NBCUniversal merger. The combination will form a new […]

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