Merger Arbitrage Blog

Merger Analysis

Brazil CADE’s Review of Bayer/Monsanto Merger

It is probably decision time for CADE’s review of Bayer/Monsanto’s merger. Comments and petitions had stopped flowing into the public merger register of CADE by 23 Jan 2018 and based on previous experience with the CADE review of ChemChina/Syngenta, CADE may have gathered all the information from they need from interested parties, competitors and market […]

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Selling Puts For Merger Arbitrage Candidates (JUNO, BIVV, AKRX)

Merger Mondays never fail to disappoint! On 22nd Jan Monday, both Sanofi and Celgene announced separately that they had agreed on all cash mergers with Bioverativ Inc and Juno Therapeutics for $11.6 billion and $9 billion respectively. The cash deals translate into $105 per share for Bioverativ and $87 per share for Juno Therapeutics. During the previous […]

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Softbank Closes Fortress Investment Merger

Softbank officially closed its acquisition of Fortress Investment, marking the end of an era of the first listed private equity investment company.  The entire process took 315 days or about slightly more than 10 months. Throughout the whole period, and from day one, investors are very confident that the merger will close, hence the spread did […]

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Merger Arbitrage Opportunity with Akorn Inc.

Happy holidays everyone! Its coming to the end of the year and I believe everyone including me is winding down, preparing for the holidays and taking well deserved breaks. After the successful Brocade merger arbitrage trade and the disasterous Time Warner trade, I took some time made some cash adjustments to my portfolio, taking out cash, […]

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Completed BRCD Trade And Reorg For Rest of The Year

Hi guys it had been some time since my last update. I had been busy with some personal stuff and having a short vacation and since the year 2017 is coming soon, I thought it will be good to take a break, reorganise my thoughts and prepare for the new year.  TRADE UPDATES: CLOSED: $BRCD $BRCD: Since […]

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Bull Put Spread on $100/$97.5 as a way to play AT&T/Time Warner Merger Arbitrage

Time Warner shares traded down towards $101 in the last two days as AT&T announced profit warnings for its upcoming quarterly report due to the increased pressure from traditional cable TV cord cutting and loss of subscribers. AT&T's stock was down to near 52 week lows of $35.70.    The merger deal between the two […]

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Broadcom Brocade Merger Moving Forward

First, the bad news… The Broadcom/Brocade merger deal completion has been delayed again as the investigations at CFIUS did not complete in time.  Now lets discuss the positives.  The parties had agreed to extend the merger deadline past 1st Nov 2017.  They now anticipate the merger to be completed by 30th Nov 2017. Broadcom is […]

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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 […]

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Sold $ALR, $WGL, $FGL. Bought $CST. Added $ANF

 SOLD ALERE: This trade turns out to be a winner. I was waiting for Alere to release their audited financial statements and as promised, Alere filed its Form 10-K, Reports Fourth Quarter and Full Year 2016 Financial Results and the share price prompted rose 2% to $50. I sold all my holdings generating 137% returns on a […]

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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 […]

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FTC Requested Additional Info From ChemChina/Syngenta While Canadian Competition Bureau Approved

Some bad news first…Syngenta had revealed that FTC had asked for second request of information which will move back the deadline clock for approval by another 30 days after ChemChina and Syngenta had submitted all the additional information that FTC had requested. This may take 2 months more but if ChemChina/Syngenta quickly submits the necessary […]

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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. — Neil Saunders (@NeilRetail) January 3, 2017   Why did FTC ask for more information? […]

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Walgreens Rite Aid New Merger Terms Worse Off For Investors

Walgreens delays Rite Aid deal again, cuts offer price 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. […]

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Buy NXPI on Qualcomm Weakness For A Short Term Trade

I just bought a little NXPI at $96.77 after Qualcomm recent weakness regarding the FTC and Apple lawsuits. I believe the merger will still go ahead regardless of the lawsuits. I am buying NXPI now as a short term trade to sell around $100 as the price will return to this level once the news […]

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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 […]

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