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
TWGP 01/06/2014 ACP Re Ltd. (N/A) Cash $172.1 $2.50 $2.11 1,645,943 11/15/2014 18.76% 60.61%
Details of Tower Group International, Ltd.:

Expected to close in the summer of 2014 for a closing value of $172.1 million. Upon completion of the merger, shareholders of Tower Group International will receive $3.00 per share in cash.

Update(s)

May 9, 2014: Tower Group revised its merger terms with ACP Re. Tower Group's shareholders will now receive $2.50 in cash compared to the prior agreement of $3.00 per share cash payment.The time limit for finalization of merger has been extended to November 15, 2014.

LO 07/15/2014 Reynolds American Inc. (RAI) Cash Plus Stock $27.4 billion $67.04 $60.73 1,699,188 06/30/2015 10.39% 11.16%
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.

DTV 05/18/2014 AT&T, Inc. (T) Special Conditions $48.5 billion $95.00 $86.30 1,889,704 05/31/2015 10.08% 11.87%
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.

COV 06/15/2014 Medtronic, Inc. (MDT) Cash Plus Stock $42.9 billion $95.32 $87.79 3,822,292 01/31/2015 8.58% 16.48%
Details of Covidien plc:

Expected to close in the fourth quarter of 2014 or early 2015 for a closing value of $42.9 billion in a cash plus stock deal, Under the terms of the agreement, shareholders of Covidien will receive $35.19 in cash and 0.956 of an ordinary share of Medtronic plc.

OABC 04/29/2014 Southside Bancshares Inc. (SBSI) Cash Plus Stock $307 million $26.39 $24.90 59,744 12/31/2014 6.00% 13.78%
Details of Omniamerican Bancorp, Inc.:

Expected to close in the fourth quarter of 2014 for a closing value of $307 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Omniamerican Bancorp will receive 0.4459 shares of Southside common stock plus $13.125 in cash for each outstanding share of OmniAmerican common stock.

MONT 06/11/2014 Shanghai Pudong Science and Technology Investment Co., Ltd. (N/A) Cash $693 million $22.60 $21.37 305,338 09/30/2014 5.76% 31.36%
Details of Montage Technology Group Limited:

Expected to close in the third quarter of 2014 for a closing value of $693 million. Upon completion of the merger, shareholders of Montage Technology Group Limited will receive $22.60 per share in cash.

IGT 07/16/2014 GTECH S.p.A. (GTKYY) Special Conditions $6.4 billion $18.25 $17.30 3,041,674 06/30/2015 5.49% 5.90%
Details of International Game Technology:

Expected to close in the first and second quarter of 2015 for a closing value of $6.4 billion. Under the terms of the agreement, shareholders of International Game Technology will receive an aggregate value of $18.25 per IGT share in a combination of $13.69 in cash plus 0.1819 ordinary shares of NewCo for each share of IGT common stock, as described in greater detail below.  GTECH shareholders will exchange each of their existing GTECH shares for one (1) newly issued NewCo share. 

Assuming a mixed consideration election, the stock consideration portion is subject to adjustment with a 15% up and down collar based on the trading price of GTECH shares prior to the closing of the transaction.  The exchange ratio of IGT common stock for NewCo stock will be determined by the average of the volume-weighted average price of GTECH stock (converted to USD) on ten randomly selected trading days occurring within the twenty trading-day period ending on (and including) the second full trading day prior to the closing of the transaction (the "GTECH Share Trading Price").  If the GTECH Share Trading Price is between or equal to $25.08 and $28.84, the exchange ratio will vary between 0.1819x and 0.1582x.  Above $28.84, the exchange ratio will be fixed at 0.1582x.  Between or equal to $21.32 and $25.08, IGT shareholders will receive NewCo stock at a fixed ratio of 0.1819x plus additional cash consideration up to $0.68 per IGT share.  Below $21.32 IGT shareholders receive 0.1819 NewCo shares and additional cash consideration equal to the GTECH Share Trading Price multiplied by 0.0321.

TWC 02/13/2014 Comcast Corporation (CMCSA) Stock $45.2 billion $156.37 $148.36 1,218,932 12/31/2014 5.40% 12.40%
Details of Time Warner Cable Inc.:

Expected to close by the end of the year for a closing value of $45.2 billion in an all stock deal. Upon completion of the merger, shareholders of Time Warner Cable will receive 2.875 shares of CMCSA.

HCBK 08/27/2012 M&T Bank Corporation (MTB) Stock $3.7 billion $10.44 $9.94 3,111,871 12/31/2014 5.00% 11.47%
Details of Hudson City Bancorp, Inc.:

Expected to close early in the first 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.

SUSS 04/28/2014 Energy Transfer Partners, L.P. (ETP) Stock $1.8 billion $85.64 $81.58 130,404 09/30/2014 4.98% 27.13%
Details of Susser Holdings Corporation:

Expected to close in the third quarter of 2014 for a closing value of $1.8 billion. Under the terms of the agreement, shareholders of Susser Holdings Corporation can elect to receive either $80.25 in cash or 1.4506 ETP common units, or a combination of both, for each share held. The shareholder election is subject to proration to ensure that aggregate cash paid and common units issued will each represent 50% of the aggregate merger consideration.  

FFKY 04/22/2014 Community Bank Shares of Indiana Inc. (CBIN) Stock $17.9 million $3.98 $3.80 21,600 12/31/2014 4.76% 10.94%
Details of First Financial Service Corp.:

Expected to close in late third or fourth quarter of 2014 for a closing value of $17.9 million. Upon completion of the merger, shareholders of First Financial Service will receive 0.153 shares of CBIN common stock.

This exchange ratio is subject to adjustment based on conditions related to the book value of First Financial and the ability of the company to gain $3 million from specifically identified special assets.

CHRM 05/19/2014 Engadin Parent Limited (N/A) Special Conditions N/A $4.70 $4.49 5,407 09/30/2014 4.68% 25.48%
Details of Charm Communications Inc.:

Expected to close before the end of the third quarter of 2014 in a going private transaction. Under the terms of the agreement, shareholders of Charm Communications will receive US$4.70 in cash per American Depositary Share of the Company ("ADS", each ADS representing two Class A ordinary shares of the Company), or US$2.35 in cash per Class A ordinary share of the Company, and US$2.35 in cash per Class B ordinary share of the Company.

SPCHA 06/30/2014 Vestis Retail Group, LLC (N/A) Cash N/A $1.20 $1.15 8,600 09/30/2014 4.35% 23.69%
Details of Sport Chalet Inc.:

Expected to close before the end of the third calendar quarter of 2014. Upon completion of the merger, shareholders of Sport Chalet will receive $1.20 per share in cash. If the total number of shares tendered in the Offer, together with the shares to be purchased from the founding family members immediately after consummation of the Offer, do not constitute 90 percent of each class of shares of Sport Chalet on a fully diluted basis, the price to be paid to stockholders in the Offer would be reduced from $1.20 to $1.04 per share.

THRD 06/04/2014 National Penn Bancshares Inc. (NPBC) Stock $138 million $44.31 $42.61 7,014 12/31/2014 3.99% 9.16%
Details of TF Financial Corporation:

Expected to close in late 2014 for a closing value of $138 million. Under the terms of the agreement, shareholders of TF Financial Corporation may elect to receive either $42.00 in cash or a fixed exchange ratio of 4.22 shares of National Penn stock for each share of TF Financial common stock.

Since only 40% of TF Financial shareholders will receive cash and 60% of shareholders will National Penn shares, we are treating this as an all-stock deal.

FFCO 04/14/2014 CB Financial Services, Inc. (CBFV) Stock 54.5 million $22.60 $21.75 34,918 11/15/2014 3.91% 12.63%
Details of FedFirst Financial Corp.:

Expected to close late in the third quarter or early fourth quarter of 2014 for a closing value of $54.5 million in a cash or stock deal. Under the terms of the agreement, shareholders of FedFirst Financial will entitled to elect to receive $23.00 in cash or shares of CB common stock based on a fixed exchange ratio of 1.1590 shares of CB common stock for each share of FedFirst common stock, subject to proration to ensure that at closing 65% of the outstanding shares of FedFirst common stock are exchanged for shares of CB common stock and the remaining 35% are exchanged for cash.

SWY 03/06/2014 AB Acquisition LLC (N/A) Special Conditions N/A $36.15 $34.87 1,972,862 12/31/2014 3.67% 8.43%
Details of Safeway Inc.:

Expected to close by the end of the year. Upon completion of the merger, shareholders of Safeway will receive $32.50 in cash, an estimated $3.65 in contingent value rights (based on their selling a Mexican retail chain and other real estate) and $3.95 related to a spin-off of BlackHawk Networks (a gift card company).

Update(s)

April 14, 2014: Safeway completed the distribution to its stockholders of 37,838,709 shares of Class B common stock of Blackhawk Networks Holdings, Inc. owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk. After this spin-off, the adjusted purchase price for Safeway is $36.15 ($32.50 in cash and $3.65 in CVRs).

FRNK 07/15/2014 Towne Bank (TOWN) Stock $275 million $20.62 $19.92 21,515 12/31/2014 3.52% 8.09%
Details of Franklin Financial Corporation:

Expected to close in the fourth quarter of 2014 for a closing value of $275 milliion in an all stock deal. Under the terms of the agreement, shareholders of Franklin Financial Corporation will receive 1.40 shares of TowneBank common stock for each share of Franklin.

GECR 06/23/2014 State Bank Financial Corporation (STBZ) Special Conditions $82 million $22.35 $21.60 175 03/31/2015 3.47% 5.09%
Details of Georgia Carolina Bancshares Inc.:

Expected to close in the first quarter of 2015 for a closing value of $82 million. The exchange ratio will depend on the average closing price of State Bank’s common stock during the twenty trading day period ending five business days before the closing of the transaction (the “Final State Bank Price”). If the Final State Bank Price is above $14.00 but below $17.00, the exchange ratio will be equal to $13.50 divided by the Final State Bank Price. If the Final State Bank Price is at or above $17.00, the exchange ratio will be 0.794. If the Final State Bank Price is at or below $14.00, the exchange ratio will be 0.964.

PTEK 04/30/2014 Multimedia Games, Inc. (N/A) Cash N/A $1.35 $1.31 2,664 12/31/2014 2.97% 6.83%
Details of PokerTek, Inc.:

Expected to close by the fourth quarter of calendar 2014. Upon completion of the merger, shareholders of PokerTek will receive $1.35 per share in cash.

LIN 03/22/2014 Media General, Inc. (MEG) Special Conditions $2.6 billion $27.82 $27.08 109,329 03/31/2015 2.73% 4.01%
Details of LIN Media LLC:

Expected to close in the first quarter of 2015 for a closing value of $2.6 billion. Upon completion of the merger, shareholders of LIN Media will get a stock or cash worth of $27.82 a share. 

Investors of Austin, Texas-based LIN can opt for 1.5762 shares of the new company or $27.82 in cash, up to a maximum of $763 million in cash payouts, the companies said.

NED 04/02/2014 Rainbow Education Holding Limited (N/A) Cash N/A $2.85 $2.78 13,110 08/15/2014 2.48% 43.12%
Details of Noah Education Holdings Ltd.:

Expected to close during the second or third quarter of 2014 in a 'going private' transaction. Upon completion of the merger, shareholders of Noah Educational Holdings will receive 2.85 per share in cash.

SPBC 05/05/2014 Green Bank (N/A) Cash $46.2 million $29.55 $28.88 2,600 09/30/2014 2.32% 12.64%
Details of SP Bancorp, Inc.:

Expected to close in the third quarter of 2014 for a closing value of $46.2 million. Upon completion of the merger, shareholders of SP Bancorp will receive $29.55 per share in cash.

DCIN 05/15/2014 Carmike Cinemas Inc. (CKEC) Stock N/A $5.66 $5.54 42,734 09/30/2014 2.17% 11.85%
Details of Digital Cinema Destinations Corp.:

Expected to close during the third quarter of 2014 in an all stock deal. Under the terms of the agreement, shareholders of Digital Cinema Destinations will receive 0.1775 shares (subject to certain potential reductions) of Carmike common stock.

FUBC 05/08/2014 Valley National Bancorp (VLY) Stock $312 million $8.65 $8.47 37,522 10/31/2014 2.13% 7.95%
Details of 1st United Bancorp, Inc.:

Expected to close early in the fourth quarter of 2014 for a closing value of $312 million in an all stock deal. Under the terms of the agreement, shareholders of 1st United Bancorp will receive 0.89 shares of Valley National Bancorp common stock for each share of 1st United common stock. 

In the event Valley's average share price during the 20 business day period ending 5 days prior to closing is less than $8.09, then Valley will increase the 0.89 exchange ratio so that 1st United shareholders receive $7.20 in Valley common stock or $7.20 in Valley common stock and cash for each 1st United share they hold. In the event Valley's average share price during the 20 business day period ending 5 days prior to closing is greater than $12.13, then Valley will decrease the 0.89 exchange ratio so that 1st United shareholders receive $10.80 in Valley common stock for each 1st United share they hold.

QCOR 04/07/2014 Mallinckrodt plc (MNK) Cash Plus Stock $5.6 billion $96.71 $94.93 2,004,913 09/30/2014 1.87% 10.21%
Details of Questcor Pharmaceuticals, Inc.:

Expected to close in the third calendar quarter of 2014 for a closing value of $5.6 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Questcor Pharmaceuticals will receive $30.00 in cash and 0.897 Mallinckrodtshares for each share of Questcor common stock they own.

EDS 12/02/2013 Pan Long Company Limited (N/A) Cash $60.1 million $1.78 $1.75 2,884 07/30/2014 1.71% 125.14%
Details of Exceed Company Ltd.:

Expected to close in the first 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.

OBAF 04/08/2014 F.N.B. Corporation (FNB) Stock $94 million $22.40 $22.04 400 09/30/2014 1.66% 9.02%
Details of OBA Financial Services, Inc.:

Expected to close in the third quarter of 2014 for a closing value of $94 million in an all stock deal. Under the terms of the agreement, shareholders of OBA Financial Services will receive 1.781 shares of F.N.B. Corporation common stock for each common share of OBA Financial Services.

LSBI 06/04/2014 Old National Bancorp. (ONB) Cash Plus Stock $66.7 million $42.12 $41.50 1,000 12/31/2014 1.50% 3.45%
Details of LSB Financial Corp.:

Expected to close in mid-to-late fourth quarter of 2014 for a closing value of $66.7 million. Under the terms of the agreement, shareholders of LSB Financial corporation will receive 2.269 shares of Old National common stock and $10.63 in cash for each share of LSB Financial common stock.

ENVE 06/30/2014 Consolidated Communications Holdings Inc. (CNSL) Stock $350 million $15.74 $15.54 21,269 12/31/2014 1.31% 3.01%
Details of Enventis Corporation:

Expected to close in the fourth quarter of 2014 for a closing value of $350 million in an all stock deal. Under the terms of the agreement, sharheolders of Enventis Corporation will receive 0.7402 shares of CNSL common stock for each share of ENVE common stock they own.

TWTC 06/16/2014 Level 3 Communications, Inc. (LVLT) Cash Plus Stock $7.3 billion $41.96 $41.43 544,426 12/31/2014 1.28% 2.95%
Details of TW Telecom Inc.:

Expected to close in the fourth quarter of 2014 for a closing value of $7.3 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of TW Telecom will receive $10 in cash and 0.7 shares of Level 3 common stock for each share of TW Telecom common stock.

FWLT 02/13/2014 AMEC PLC (AMCBF) Cash Plus Stock $3.3 billion $33.77 $33.39 311,606 12/31/2014 1.14% 2.62%
Details of Foster Wheeler AG:

Expected to close in the second half of 2014 for a closing value of $3.3 billion in a stock plus cash deal. Under the terms of the agreement, shareholders of Foster Wheeler will receive 0.8998 shares of AMEC stock and $16.00 per share in cash. Separately, Foster Wheeler expects to pay a one-time dividend of $0.40 per share prior to, and not conditional on, the closing of the offer.

TEG 06/23/2014 Wisconsin Energy Corp. (WEC) Cash Plus Stock $9.1 billion $69.51 $68.85 182,683 06/30/2015 0.96% 1.03%
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.

TQNT 02/24/2014 RF Micro Devices Inc. (RFMD) Stock $1.6 billion $18.24 $18.07 6,201,621 12/31/2014 0.94% 2.17%
Details of TriQuint Semiconductor, Inc.:

Expected to close by the end of the year for a closing value of $1.6 billion in an all stock deal. Under the terms of the agreement, shareholders of TriQuint Semiconductor will receive 1.675 shares of RF Micro Devices common stock per share held.

This is a merger of equals deal where TQNT shareholders will receive 1.675 shares of a newly formed post-merger company and RFMD shareholders will receive 1 share. Since RFMD shareholders will receive one share of the new company for each share they hold, we are treating this merger as TQNT shareholders receiving 1.675 shares of RFMD to calculate the spread.

PL 06/03/2014 Dai-ichi Life Insurance Company (N/A) Cash $5.7 billion $70.00 $69.40 618,478 01/31/2015 0.86% 1.66%
Details of Protective Life Corporation:

Expected to close by the end of 2014 or early 2015 for a closing value of $5.7 billion. Upon completion of the merger, shareholders of Protective Life Corporation will receive $70.00 per share in cash.

IDIX 06/09/2014 Merck & Co. Inc. (MRK) Cash $3.85 billion $24.50 $24.33 1,159,072 09/30/2014 0.70% 3.81%
Details of Idenix Pharmaceuticals Inc.:

Expected to close in the third quarter of 2014 for a closing value of $3.85 billion. Upon completion of the merger, shareholders of Idenix Pharmaceuticals will receive $24.50 per share in cash.

URS 07/13/2014 AECOM Technology Corporation (ACM) Cash Plus Stock $6 billion $58.73 $58.33 1,795,250 10/31/2014 0.68% 2.53%
Details of URS Corporation:

Expected to close in October 2014 for a closing value of $6 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of URS Corporation will receive $33.00 in cash and 0.734 shares of AECOM common stock for each URS share.

GA 03/16/2014 Giant Investment Limited (“Parent”) and Giant Merger Limited (N/A) Cash $3 billion $12.00 $11.92 N/A 12/31/2014 0.67% 1.54%
Details of Giant Interactive Group, Inc.:

Expected to close in the second half of 2014 for a closing value of $3 billion in a "going private" transaction. Upon completion of the merger, shareholders of Giant Interactive Group will receive $12.00 per share in cash.

ROC 07/15/2014 Albemarle Corporation (ALB) Cash Plus Stock $6.2 billion $83.82 $83.33 1,315,346 03/31/2015 0.59% 0.87%
Details of Rockwood Holdings, Inc.:

Expected to close in the first quarter of 2015 for a closing value of $6.2 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Rockwood Holdings will receive $50.65 in cash and 0.4803 of a share of Albemarle common stock.

DFZ 05/02/2014 Mill Road Capital (N/A) Cash $215 million $19.00 $18.89 37,125 09/30/2014 0.58% 3.17%
Details of R.G. Barry Corporation:

Expected to close in the third calendar quarter of 2014 for a closing value of $215 million. Upon completion of the merger, shareholders of R.G. Barry Corporation will receive $19.00 per share in cash.

MCRS 06/23/2014 Oracle Corporation (ORCL) Cash $4.6 billion $68.00 $67.72 1,245,188 12/31/2014 0.41% 0.95%
Details of MICROS Systems, Inc.:

Expected to close in the second half of 2014 for a closing value of $5.3 billion. Upon completion of the merger, shareholders of MICROS Systems will receive $68.00 per share in cash.

NDZ 03/28/2014 Sterigenics (N/A) Cash $727 million $13.00 $12.95 56,460 12/31/2014 0.39% 0.89%
Details of Nordion Inc.:

Expected to close in the second half of 2014 for a closing value of $727 million. Upon completion of the merger, shareholders of Nordion will receive $12.25 per share in cash.

Update(s)

  1. On June 4, 2014, Nordion (NDZ) announced that it has entered into a second ammendment with Sterigenics, providing that among other things, shareholder of Nordion will now be entitled to receive $13.00 per share upon closing of the proposed acquisition.
HSH 07/02/2014 Tyson Foods, Inc. (TSN) Cash $8.55 billion $63.00 $62.78 3,105,561 09/27/2014 0.35% 2.00%
Details of The Hillshire Brands Company :

Expected to close by September 27, 2014 for a closing value of $8.55 billion. Upon completion of the merger, sharheolders of The Hillshire Brands Company will receive $63.00 per share in cash.

RDA 11/11/2013 Tsinghua Unigroup Ltd. (N/A) Cash $910 million $18.50 $18.45 N/A 08/08/2014 0.27% 7.07%
Details of RDA Microelectronics, Inc.:

Expected to close in the first half of 2014 for a closing value of $910 million. Upon completion of the merger, shareholders of RDA Microelectronics will receive $18.50 per share in cash.

VITC 07/02/2014 The Kroger Co. (KR) Cash $280 million $8.00 $7.99 171,299 09/30/2014 0.19% 1.02%
Details of Vitacost.com, Inc.:

Expected to close in the third quarter of 2014 for a closing value of $280 million. Upon completion of the merger, shareholders of Vitacost.com will receive $8.00 per share in cash.

FIO 06/16/2014 SanDisk Corp. (SNDK) Cash $1.1 billion $11.25 $11.23 N/A 09/30/2014 0.18% 0.97%
Details of Fusion-io, Inc.:

Expected to close in the third quarter of SanDisk's fiscal 2014 for a closing value of $1.1 billion. Upon completion of the merger, shareholders of Fusion-io will receive $11.25 per share in cash.

HCT 06/02/2014 Ventas, Inc. (VTR) Stock $2.6 billion $10.84 $10.82 1,098,353 12/31/2014 0.17% 0.40%
Details of American Realty Capital Healthcare Trust, Inc.:

Expected to close in the fourth quarter of 2014 for a closing value of $2.6 billion. Under the terms of the agreement, shareholders of American Realty Capital Healthcare Trust can choose to receive 0.1688 Ventas common shares or $11.33 in cash for each common share of ARC Healthcare they own.

Since the cash portion of the deal is subject to a cap of 10 percent of ARC Healthcare's outstanding shares, we are treating this deal as an all-stock deal.

ZIPR 07/15/2014 Realogy Holdings Corp. (RLGY) Cash $166 million $6.75 $6.74 32,790 09/30/2014 0.15% 0.81%
Details of zipRealty Inc.:

Expected to close in the third quarter of 2014 for a closing value of $166 million. Upon completion of the merger, shareholders of zipRealty will receive $6.75 per share in cash.

MDCI 06/25/2014 Owens & Minor, Inc. (OMI) Cash $208 million $13.80 $13.78 57,512 12/31/2014 0.15% 0.33%
Details of Medical Action Industries Inc.:

Expected to close by the fuorth quarter of 2014 for a closing value of $208 million. Upon completion of the merger, shareholders of Medical Action Industries will receive $13.80 per share in cash.

SGK 03/17/2014 Matthews International Corporation (MATW) Cash Plus Stock $577 million $20.73 $20.71 17,000 09/30/2014 0.11% 0.59%
Details of Schawk Inc.:

Expected to close in the third quarter of 2014 for a closing value of $577 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Schawk will receive a combination of $11.80 in cash and 0.20582 shares of Matthews common stock.

ESC 02/20/2014 Brookdale Senior Living Inc. (BKD) Stock $2.8 billion $33.87 $33.84 143,640 09/30/2014 0.08% 0.44%
Details of Emeritus Corp.:

Expected to close in the third quarter of 2014 for a closing value of $2.8 billion in an all stock deal. Under the terms of the agreement, shareholders of Emeritus Corp. will receive 0.95 shares of Brookdale common stock in exchange for each share of their Emeritus common stock. 

PLXT 06/24/2014 Avago Technologies Limited (AVGO) Cash $293 million $6.50 $6.50 768,158 11/03/2014 0.08% 0.28%
Details of PLX Technology Inc.:

Expected to close in the fourth quarter of of Avago's fiscal year ending November 3, 2014 for a closing value of $309 million. Upon completion of the merger, shareholders of PLX Technology will receive $6.50 per share in cash.

OVRL 05/15/2014 Sphere 3D Corporation (ANY) Stock $81.13 million $3.73 $3.73 36,136 09/30/2014 0.07% 0.36%
Details of Overland Storage Inc.:

Expected to close in the third quarter of 2014 for a closing value of $81.13 million in an all stock deal. Under the terms of the agreement, shareholders of Overland Storage will receive 0.510594 shares of Sphere 3D.

OPEN 06/13/2014 The Priceline Group Inc. (PCLN) Cash $2.6 billion $103.00 $102.95 N/A 09/30/2014 0.05% 0.26%
Details of OpenTable, Inc.:

Expected to close in the third quarter of 2014 for a closing value of $2.6 billion. Upon completion of the merger, shareholders of OpenTable will receive $103 per share in cash.

MEAS 06/18/2014 TE Connectivity Ltd. (TEL) Cash $1.7 billion $86.00 $86.00 70,607 12/31/2014 0.00% 0.00%
Details of Measurement Specialties Inc.:

Expected to close by the end of the year 2014 for a closing value of $1.7 billion. Upon completion of the merger, shareholders of Measurement Specialties will receive $86.00 per share in cash.

HITT 06/09/2014 Analog Devices, Inc. (ADI) Cash $2 billion $78.00 $78.00 N/A 09/30/2014 0.00% 0.00%
Details of Hittite Microwave Corporation:

Expected to close in the third quarter of 2014 for a closing value of $2 billion. Upon completion of the merger, shareholders of Hittite Microwave Corporation will receive $78.00 per share in cash.

TAYC 07/15/2013 MB Financial Inc. (MBFI) Cash Plus Stock $680 million $21.85 $21.87 51,966 09/30/2014 -0.07% -0.38%
Details of Taylor Capital Group Inc.:

Expected to close in the first half of 2014 for a closing value of $680 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Taylor Capital will receive 0.64318 shares of MB Financial common stock and $4.08 per share in cash.

Update(s)

July 1, 2014: Taylor Capital Group (TAYC) and MB Financial (MBFI) entered into an amendment to the Merger Agreement. The Amendment extends the date after which either the Company or MB Financial would be able to terminate the Merger Agreement if the Merger has not yet occurred (the "Termination Date"), from June 30, 2014 to September 30, 2014, provided that the Termination Date may be extended beyond September 30, 2014 one or more times, but not to a date later than December 31, 2014, by either the Company or MB Financial if the only condition to the closing of the Merger that has not been satisfied by the tenth day prior to the then-current Termination Date is the receipt of a requisite regulatory approval.

EQU 12/09/2013 Petroflow Energy Corporation (N/A) Cash $230 million $5.43 $5.44 319,581 07/31/2014 -0.18% -11.18%
Details of Equal Energy Ltd.:

Expected to close for a closing value of $230 million. Upon completion of the merger, shareholders of Equal Energy will receive $5.43 per share in cash.

UNS 12/11/2013 Fortis, Inc. (N/A) Cash $4.3 billion $60.25 $60.41 447,900 12/31/2014 -0.26% -0.61%
Details of UNS Energy Corporation:

Expected to close before the end of 2014 for a closing value of $4.3 billion. Upon completion of the merger, shareholders of UNS Energy Corporation will receive $60.25 per share in cash.

NOVB 01/21/2014 TriCo Bancshares (TCBK) Stock $178.4 million $21.21 $21.28 10,090 09/30/2014 -0.35% -1.91%
Details of North Valley Bancorp:

Expected to close by mid-year 2014 for a closing value of $178.4 million. Under the terms of the agreement, shareholders of North Valley Bancorp will receive a fixed exchange ratio of 0.9433 shares of TriCo coomon stock in exchange for each share of North Valley common stock.

ARX 05/20/2014 Cobham plc (N/A) Cash $1.46 billion $10.50 $10.55 59,411 09/30/2014 -0.47% -2.58%
Details of Aeroflex Holding Corp. :

Expected to close during the third quarter of 2014 for a closing value of $1.46 billion. Upon completion of the merger, shareholders of Aeroflex Holding will receive $10.50 per share in cash.

POM 04/30/2014 Exelon Corporation (EXC) Cash $7.2 billion $27.25 $27.40 539,959 09/30/2015 -0.55% -0.46%
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.

KOG 07/13/2014 Whiting Petroleum Corp. (WLL) Stock $6 billion $15.71 $15.94 4,012,803 12/31/2014 -1.45% -3.33%
Details of Kodiak Oil & Gas Corp.:

Expected to close in the fourth quarter of 2014 for a closing value of $6 billion in an all stock deal. Under the terms of the agreement, shareholders of Kodiak Oil & Gas will receive 0.177 of a share of Whiting stock in exchange for each share of Kodiak common stock they hold.

SWS 04/01/2014 Hilltop Holdings Inc. (HTH) Cash Plus Stock $260 million $7.06 $7.17 144,534 12/31/2014 -1.54% -3.54%
Details of SWS Group, Inc.:

Expected to close prior to the end of 2014 for a closing value of $260 million in a cash plus stock deal. Under the terms of the agreement, shareholders of SWS Group will receive per share consideration of 0.2496 shares of Hilltop common stock and $1.94 of cash. 

ISS 06/06/2013 Mr. Tianwen Liu, the Company's CEO and the chairman of its Board of Directors, and ChinaAMC Capital Management Limited (N/A) Cash N/A $5.45 $5.55 31,421 09/30/2014 -1.80% -9.82%
Details of iSoftStone Holdings Limited:

Upon completion of the merger, shareholders of iSoftStone Holdings will receive $5.85 per share in cash.

Update(s)

November 2, 2013: iSoftStone Holdings Limited ("iSoftStone" or "the Company," NYSE: ISS), a leading China-based IT services provider, today announced that the independent committee of its board of directors (the "Independent Committee") has received a revised offer (the "Offer"), dated November 2, 2013, from a consortium (the "Consortium") consisting of (i) Mr. Tianwen Liu, the chief executive officer and the chairman of the board of directors of the Company, (ii) ChinaAMC Capital Management Limited ("ChinaAMC"), an alternative investment platform and an affiliate of China Asset Management (Hong Kong) Limited, and (iii) Accurate Global Limited, Advance Orient Limited and CSOF Technology Investments Limited, to acquire all of the Company's outstanding ordinary shares not currently owned by the Consortium for $0.545 per ordinary share or $5.45 per American depositary share ("ADS," each representing ten ordinary shares of the Company) in cash (the "Transaction"), subject to certain conditions.

AUXL 06/26/2014 QLT Inc. (QLTI) Stock N/A $17.56 $18.92 1,310,527 12/31/2014 -7.18% -16.49%
Details of Auxilium Pharmaceuticals Inc.:

Expected to close by the fourth quarter of 2014 in an all stock deal. Under the terms of the agreement, shareholders of Auxilium Pharmaceuticals will receive 3.1359 QLT common shares.

Upon consummation of the Merger, each outstanding share of Auxilium common stock, other than shares owned by Auxilium, QLT, HoldCo or AcquireCo, will be converted into the right to receive 3.1359 QLT common shares (the "Equity Exchange Ratio"), subject to adjustment as described in the immediately following sentence. If at or immediately after the effective time of the Merger, QLT receives an aggregate cash consideration pursuant to any sale, license, sublicense or similar transaction related to its proprietary synthetic retinoid product in development known as "QLT091001", which is

(a)   less than $25 million but equal to or greater than $20 million then, the Equity Exchange Ratio shall be increased by 0.0192;

(b)   less than $20 million but equal to or greater than $15 million, then the Equity Exchange Ratio shall be increased by 0.0385

(c)   less than $15 million but equal to or greater than $10 million, then the Equity Exchange Ration shall be increased by 0.0577;

(d)   less than $10 million but equal to or greater than $5 million, then the Equity Exchange Ratio shall be increased by 0.0770;

(e)   less than $5 million, or in the event that no such transaction is consummated at or immediately after the effective time of the Merger, then the Equity Exchange Ratio shall be increased by 0.0962.

Upon completion of the Merger, Auxilium stockholders will own approximately 76% of the outstanding common shares of the Combined Company on a fully diluted basis and current QLT stockholders will own approximately 24% of the outstanding common shares of the Combined Company on a fully diluted basis, subject to certain adjustments.

CHDX 02/17/2014 a buyer consortium (the "Buyer Consortium") of an affiliate of TPG (together with its affiliates, "TPG"), an affiliate of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun"), and Ms. Roberta Lipson, the CEO of the Company (N/A) Cash $369 million $19.50 $23.41 64,479 12/31/2014 -16.70% -38.34%
Details of Chindex International Inc.:

Expected to close in the second half of 2014 for a closing value of $369 million. Upon completion of the merger, shareholders of Chindex International will receive $19.50 per share in cash.