Merger Arbitrage Mondays – July 12, 2010

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July 12, 2010 | Merger Arbitrage | | Author Asif

The activity on the Merger and Acquisition front decreased last week with only one new deal being announced and three deals closing.

The new deal includes the acquisition of American Physicians Capital (ACAP) by The Doctors Company for $41.50 per share in cash.

The deals that closed include the acquisition of SenoRx (SENO) by C.R. Bard on July 06, 2010, the acquisition of Bell Microproducts (BELM) by Avnet on July 06, 2010 and the acquisition DynCorp International (DCP) by Cerberus Capital Management on July 08, 2010.

  Symbol Announced
Date
Acquiring
Company
Closing
Value
Closing
Price
Last
Price
Closing
Date
Profit Annu.

Profit

+ WX 04/26/2010 Charles River Laboratories (CRL) $1.6 billion $20.62 $16.17 12/31/2010 27.54% 58.45%
+ ATBC 05/10/2010 Jacksonville Bancorp (JAXB) N/A $2.73 $2.18 09/30/2010 25.23% 115.11%
+ AYE 02/11/2010 FirstEnergy (FE) $8.5 billion $24.69 $22.07 03/31/2011 11.85% 16.51%
+ SSE 02/23/2010 Naugatuck Valley Financial Corp (NVSL) $19.5 million $7.25 $6.4999 08/16/2010 11.54% 120.35%
+ PINN 02/24/2010 Investor Group lead by Scotia Waterous (USA) (N/A) $11 million $0.34 $0.31 08/21/2010 9.68% 88.31%
+ BGH 06/11/2010 Buckeye Partners LP (BPL) $1.14 billion $42.62 $39.79 12/31/2010 7.11% 15.08%
+ DIVX 06/02/2010 Sonic Solutions (SNIC) $323 million $7.68 $7.26 09/30/2010 5.74% 26.20%
+ EMMS 05/25/2010 JS Acquisition and Alden Global Capital (N/A) $3 billion $2.40 $2.27 09/30/2010 5.73% 26.13%
+ Q 04/22/2010 Century Link (CTL) $10.6 billion $5.73 $5.43 04/21/2011 5.57% 7.18%
+ ECLP 06/09/2010 Allscripts-Misys Healthcare (MDRX) $1.3 billion $20.41 $19.43 11/15/2010 5.05% 14.64%
+ ALOY 06/24/2010 ZelnickMedia (N/A) $126.5 million $9.80 $9.45 12/31/2010 3.70% 7.86%
+ EFJI 05/17/2010 Francisco Partners (N/A) N/A $1.50 $1.45 09/30/2010 3.45% 15.73%
+ TTIL 06/09/2010 Teoco Corp. (N/A) $58 million $3.00 $2.90 09/30/2010 3.45% 15.73%
+ PMACA 06/10/2010 Old Republic International (ORI) $228 million $7.07 $6.85 09/30/2010 3.18% 14.49%
+ PRPX 02/17/2010 L.B. Foster Co. (FSTR) $112 million $11.71 $11.35 08/31/2010 3.17% 23.15%
+ MIR 04/12/2010 RRI Energy In. (RRI) $1.6 billion $11.57 $11.30 12/31/2010 2.36% 5.01%
+ PSYS 05/17/2010 Universal Health (N/A) $3.1 billion $33.75 $32.98 12/31/2010 2.33% 4.95%
+ BNE 02/24/2010 RR Donnelley (RRD) $481 million $11.50 $11.28 09/30/2010 1.95% 8.90%
+ SWWC 03/03/2010 Institutional Investors (N/A) $275 million $11.00 $10.79 03/31/2011 1.95% 2.71%
+ WAIN 06/29/2010 Eastern Bank (N/A) $163 million $19.00 $18.64 12/31/2010 1.93% 4.10%
+ ACAP 07/08/2010 The Doctors Company (N/A) $386 million $41.50 $40.73 12/31/2010 1.89% 4.01%
+ WMZ 05/24/2010 Williams Partners L.P. (WPZ) $34.73 $34.10 09/30/2010 1.86% 8.49%
+ MAM 03/12/2010 Emera Inc (N/A) $75.7 million $45.00 $44.18 12/31/2010 1.86% 3.94%
+ SII 02/19/2010 Schlumberger (SLB) $7.5 billion $40.79 $40.06 09/30/2010 1.83% 8.35%
+ ME 04/15/2010 Apache (APA) $2.7 billion $22.78 $22.37 09/30/2010 1.82% 8.31%
+ OMNI 06/04/2010 Wellspring Capital Management (N/A) $122 million $2.75 $2.71 11/15/2010 1.48% 4.28%
+ VETS 06/02/2010 VCA Antech Inc (WOOF) $41.25 million $0.34 $0.3352 09/30/2010 1.43% 6.53%
+ GLG 05/17/2010 Man Group (N/A) $1.6 billion $4.50 $4.44 09/30/2010 1.35% 6.17%
+ STBK 03/18/2010 Roma Financial Corp (ROMA) $14.7 million $2.52 $2.4932 08/16/2010 1.07% 11.21%
+ PFWD 04/16/2010 Oracle Corp. (ORCL) $685 million $17.00 $16.82 06/30/2010 1.07% 0.00%
+ ORCD 03/16/2010 eMusic (N/A) $12.77 million $2.05 $2.03 08/16/2010 0.99% 10.27%
+ VIRL 06/10/2010 Synopsys (SNPS) $315 million $12.00 $11.89 12/31/2010 0.93% 1.96%
+ RCNI 03/05/2010 ABRY Partners (N/A) $536 million $15.00 $14.87 09/30/2010 0.87% 3.99%
+ MDNU 06/11/2010 Danone (N/A) $62.3 million $4.00 $3.97 09/30/2010 0.76% 3.45%
+ ATSI 04/29/2010 Medtronic (MDT) $350 million $4.00 $3.97 09/30/2010 0.76% 3.45%
+ VTIV 05/06/2010 Thomas H. Lee Partners (N/A) $1.1 billion $26.00 $25.81 09/30/2010 0.74% 3.36%
+ BSMD 05/13/2010 Merit Medical Systems (MMSI) $96 million $4.38 $4.35 09/30/2010 0.69% 3.15%
+ WEL 04/09/2010 Halliburton Company (HAL) $240 million $3.00 $2.98 09/30/2010 0.67% 3.06%
+ ODSY 05/24/2010 Gentiva Health Services (GTIV) $1.0 billion $27.00 $26.82 09/30/2010 0.67% 3.06%
+ QUOT 06/11/2010 LQ Acquisition (N/A) $19 million $4.00 $3.98 09/30/2010 0.50% 2.29%
+ IDC 05/04/2010 Silver Lake & Warburg Pincus (N/A) $3.4 billion $33.86 $33.70 09/30/2010 0.47% 2.17%
+ SNWL 06/03/2010 investor group led by private equity firm Thoma Bravo LLC (N/A) $636 million $11.50 $11.45 12/31/2010 0.44% 0.93%
+ SY 05/12/2010 SAP (SAP) $5.8 billion $65.00 $64.77 09/30/2010 0.36% 1.62%
+ NADX 04/05/2010 GDC Holdings Inc. (N/A) $100 million $17.00 $16.94 09/30/2010 0.35% 1.62%
+ DBTK 05/17/2010 Vision Solutions (N/A) $242 million $10.55 $10.52 09/30/2010 0.29% 1.30%
+ SMTS 06/16/2010 Covidien (COV) $299 million $25.00 $24.94 07/31/2010 0.24% 4.62%
+ CYBS 04/21/2010 Visa Inc. (V) $2.0 billion $26.00 $25.94 09/30/2010 0.23% 1.06%
+ RBI 03/15/2010 affiliate of Oncap Management Partners L.P. (N/A) $13.55 $13.52 08/16/2010 0.22% 2.31%
+ GNA 06/02/2010 Gerdau (GGB) $1.7 billion $11.00 $10.98 08/31/2010 0.18% 1.33%
+ STST 06/30/2010 Boeing (BA) $775 million $34.50 $34.44 09/30/2010 0.17% 0.79%
+ SXE 05/07/2010 CGI Group (N/A) $904 million $37.50 $37.44 09/30/2010 0.16% 0.73%
+ CPII 05/10/2010 Comtech (CMTL) $472.3 million $15.63 $15.61 09/30/2010 0.11% 0.48%
+ AIPC 06/21/2010 Ralcorp Holdings (RAH) $1.2 billion $53.00 $52.95 09/30/2010 0.09% 0.43%
+ SBP 06/24/2010 ABLASA (N/A) N/A $12.69 $12.68 07/22/2010 0.08% 2.88%
+ MIL 03/01/2010 Merck (MRK) $6 billion $107.00 $106.93 09/30/2010 0.07% 0.30%
+ VRAD 05/17/2010 Providence Equity (N/A) $294 million $17.25 $17.24 09/30/2010 0.06% 0.26%
+ CRN 04/19/2010 GeoGroup (GEO) $685 million $27.89 $27.88 09/30/2010 0.02% 0.08%
+ TSFG 05/17/2010 TD Bank Financial Group (N/A) $61 million $0.28 $0.28 09/30/2010 0.00% 0.00%
+ CKR 03/01/2010 Apollo Management VII (N/A) $694 million $12.55 $12.55 07/07/2010 0.00% 0.00%
+ EVVV 06/01/2010 Covidien plc (COV) $2.6 billion $22.50 $22.50 07/31/2010 0.00% 0.00%
+ NGA 04/01/2010 AZZ Inc. (AZZ) $125.6 million $7.50 $7.51 08/31/2010 -0.13% -0.97%
+ VRX 06/21/2010 Biovail Corporation (BVF) $3.3 billion $51.21 $52.08 12/31/2010 -1.67% -3.53%
+ CAL 05/03/2010 United (UAUA) $1.2 billion $22.43 $22.92 12/31/2010 -2.15% -4.56%
+ ABII 06/30/2010 Celgene (CELG) $2.9 billion $71.39 $74.12 12/31/2010 -3.68% -7.81%
+ ARD 04/04/2010 SandRidge Energy Inc. (SD) $1.6 billion $32.40 $34.16 09/30/2010 -5.14% -23.44%
+ TLCR 06/07/2010 Grifols (N/A) $3.4 billion $19.00 $21.31 12/31/2010 -10.84% -23.00%
+ DTG 04/26/2010 Hertz (HTZ) $1.3 billion $39.32 $45.78 12/31/2010 -14.11% -29.95%
+ MCCC 06/01/2010 Chief Executive Rocco Commisso (N/A) $590 million $6.00 $7.01 N/A -14.41% 0.00%
+ CCE 02/25/2010 The Coca-Cola Company (KO) $12.3 billion N/A $27.68 10/01/2010 N/A N/A



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