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
SWY 03/06/2014 AB Acquisition LLC (N/A) Cash N/A $40.00 $34.12 3,094,445 12/31/2014 17.23% 24.48%
Details of Safeway Inc.:

Expected to close by the end of the year. Upon completion of the merger, shareholders of Safeway will receive $40.00 per share in cash.

Voluntary Disclosure: I hold a long position in Safeway (SWY).

LIN 03/22/2014 Media General, Inc. (MEG) Cash $2.6 billion $27.82 $23.75 62,525 03/31/2015 17.14% 18.03%
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.

TWGP 01/06/2014 ACP Re Ltd. (N/A) Cash $172.1 $3.00 $2.58 336,775 06/30/2014 16.28% 81.40%
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.

WH 02/21/2013 WSP OCTG GROUP Ltd. (N/A) Cash $893.6 million $3.20 $2.80 9,142 05/31/2014 14.29% 121.26%
Details of WSP Holdings Ltd.:

Expected to close in the second quarter of 2013 for a closing value of $893.6 million. Upon completion of the merger, shareholders of WSP Holdings will receive $3.20 per share in cash.

Update(s):

On August 15, 2013, WSP Holdings Private Limited announced that the parties to the going private transaction of the Company have amended the Agreement and Plan of Merger (the "Merger Agreement") to extend the termination date to December 31, 2013.

On March 19, 2014, WSP Holdings Private Limited (WH) announced that the parties to the going private transaction of the Company have amended the Agreement and Plan of Merger (the "Merger Agreement") to extend the termination date to May 31, 2014.


SYNM 12/17/2013 Renewable Energy Group, Inc. (REGI) Stock N/A $4.53 $3.98 116,317 03/31/2014 13.79% 0.00%
Details of Syntroleum Corp.:

Expected to close in the first quarter of 2014 in an all stock deal. Under the terms of the agreement, shareholders of Syntroleum Corporation will receive 0.3809 shares of REG common stock for each outstanding share of Syntroleum common stock.

EQU 12/09/2013 Petroflow Energy Corporation (N/A) Cash $230 million $5.43 $4.80 407,433 03/31/2014 13.13% 0.00%
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.

QCOR 04/07/2014 Mallinckrodt plc (MNK) Cash Plus Stock $5.6 billion $84.07 $76.95 2,163,098 09/30/2014 9.25% 20.47%
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 $1.65 49,007 03/31/2014 7.88% 0.00%
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.

HOME 10/23/2013 Cascade Bancorp (CACB) Cash Plus Stock $265.7 million $16.51 $15.38 20,936 03/31/2014 7.33% 0.00%
Details of Home Federal Bancorp Inc.:

Expected to close in the first quarter of 2014 for a closing value of $265.7 million in a cash plus stock deal. Under the terms of the agreement, Home Federal Bancorp shareholders will receive approximately $8.3368 in cash and 1.6776 shares of Cascade Bancorp common stock per share held.

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 $5.11 48,252 09/30/2013 6.65% 0.00%
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.

HWG 06/05/2013 Hallwood Financial Limited (N/A) Cash N/A $13.00 $12.19 6,200 04/30/2014 6.64% 202.11%
Details of The Hallwood Group Incorporated:

Expected to close in the third quarter of 2013. Upon completion of the merger, shareholders of the Hallwood Group Incorporated will receive $10.00 per share in cash.

Update(s)

February 7, 2014: Merger consideration increased by $3.00 from $10.00 to $13.00

ICH 10/28/2013 RCS Capital Corporation (N/A) Cash $52.5 million $7.25 $6.84 12,118 03/31/2014 5.99% 0.00%
Details of Investors Capital Holdings, Ltd.:

Expected to close in the first quarter of 2014 for a closing value of $52.5 million. Upon completion of the merger, shareholders of Investors Capital Holdings will receive $7.25 per share in cash.

NINE 01/29/2014 Ninetowns Holdings Limited ("Parent") (N/A) Cash N/A $1.80 $1.72 N/A 06/30/2014 4.65% 23.26%
Details of Ninetowns Internet Technology Group Company Limited:

Expected to close by the second quarter of 2014. Upon completion of the merger, shareholders of Ninetowns Internet Technology Group Company Limited will receive $1.80 per share in cash.

TWC 02/13/2014 Comcast Corporation (CMCSA) Stock $45.2 billion $141.16 $135.33 2,266,718 12/31/2014 4.31% 6.12%
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.

OBAF 04/08/2014 F.N.B. Corporation (FNB) Stock $94 million $22.92 $21.98 148,543 09/30/2014 4.28% 9.48%
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.

RDA 11/11/2013 Tsinghua Unigroup Ltd. (N/A) Cash $910 million $18.50 $17.78 505,465 06/30/2014 4.05% 20.25%
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.

HCBK 08/27/2012 M&T Bank Corporation (MTB) Stock $3.7 billion $10.21 $9.90 2,237,461 12/31/2014 3.16% 4.49%
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.

FBMI 08/15/2013 Mercantile Bank Corp. (MBWM) Cash Plus Stock $151.5 million $18.74 $18.18 9,816 06/30/2014 3.08% 15.40%
Details of Firstbank Corporation:

Expected to close in the first quarter of 2013 for a closing value of $151.5 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Firstbank Corporation will receive a fixed ration of 1.00 share of Mercantile common stock for each share of Firstbank common stock.

In addition, Mercantile expects to pay a special cash dividend of $2.00 per share to Mercantile shareholders prior to the closing of the merger, subject to the satisfaction of the closing conditions in the merger agreement. In order to take this $2 special dividend into account, we are going to treat this as a cash plus stock deal with a cash value of negative $2.

NDZ 03/28/2014 Sterigenics (N/A) Cash $727 million $11.75 $11.43 386,797 12/31/2014 2.80% 3.98%
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 $11.75 per share in cash.

GA 03/16/2014 Giant Investment Limited (“Parent”) and Giant Merger Limited (N/A) Cash $3 billion $12.00 $11.69 705,722 12/31/2014 2.65% 3.77%
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.

CHC 01/13/2014 CPT Wyndham Holdings Ltd. (N/A) Cash N/A $3.51 $3.42 30,575 06/30/2014 2.63% 13.16%
Details of China Hydroelectric Corporation:

Expected to close in the first half of 2014 in a going private transaction. Upon completion of the merger, shareholders of China Hydroelectric Corporation $3.51 per share in cash.

JFBI 01/23/2014 HomeTrust Bancshares, Inc. (HTBI) Cash $51.2 million $8.00 $7.83 2,355 06/30/2014 2.17% 10.86%
Details of Jefferson Bancshares Inc.:

Expected to close in the secand calendar quarter of 2014 for a closing value of $51.2 million. Under the terms of the agreement, Jefferson shareholders will receive a total of $8.00 per share in merger consideration consisting of $4.00 in cash plus $4.00 in HomeTrust common stock. This represents approximately $51.2 million of aggregate transaction consideration.  The number of HomeTrust shares to be issued will be determined based on HomeTrust’s average closing stock price during the 10 trading days ending on the fifth trading day prior to the closing date, with the exchange ratio fixed at 0.2667 if the average closing price is equal to or less than $15.00 per share and at 0.2222 if the average closing price is equal to or greater than $18.00 per share. 

We are treating this as an all cash deal.

HAST 03/17/2014 Affiliate of Joel Weinshanker (N/A) Cash $21.4 million $3.00 $2.94 6,100 06/30/2014 2.04% 10.20%
Details of Hastings Entertainment Inc.:

Expected to close in the second quarter of 2014 for a closing vale of $21.4 million. Upon completion of the merger, shareholders of Hastings Entertainment will receive $3.00 per share in cash.

YONG 04/09/2014 Full Alliance International Limited (N/A) Cash $339 million $7.10 $6.97 422,497 09/30/2014 1.94% 4.29%
Details of Yongye International, Inc.:

Expected to close before the first fscal quarter of 2014 for a closing value of $339 million. Upon completion of the merger, shareholders of Yongye International will receive $6.69 per share in cash.

Deal Update(s)

March 5, 2014: Yongye International (YONG), announced that it did not receive approval from at least a majority of the issued and outstanding shares of common stock of the Company for going private proposal dated on September 23, 2013 from Full Alliance International Limited consortium. Therefore, the Merger Agreement was not approved by the company's stockholders.

April 9, 2014: Yongye International (YONG) accepted revised 'going private' proposal at $7.10 per share and entered into amended merger agreement.

FRX 02/18/2014 Actavis plc (ACT) Cash Plus Stock $25 billion $91.30 $89.58 1,088,408 06/30/2014 1.92% 9.58%
Details of Forest Laboratories Inc.:

Expected to close by mid-year 2014 for a closing value of $25 billion in a cash plus stock deal. Under the terms of the agreement, shareholders of Forest Laboratories will receive $26.04 in cash and 0.3306 Actavis shares for each share of forest common stock.

AMAP 04/11/2014 affiliate of Alibaba Group Holding Limited ("Alibaba") (N/A) Cash $1.5 billion $21.00 $20.65 840,350 09/30/2014 1.69% 3.75%
Details of AutoNavi Holdings Limited:

Expected to close in the third quarter of 2014 for a closing value of $1.5 billion. Upon completion of the merger, shareholders of AutoNavi Holdings will receive $21.00 per share in cash.

FWLT 02/13/2014 AMEC PLC (AMCBF) Cash Plus Stock $3.3 billion $34.12 $33.57 325,282 12/31/2014 1.64% 2.34%
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.

NTS 10/21/2013 Tower Three Partners LLC (N/A) Cash $83 million $2.00 $1.97 23,321 03/31/2014 1.52% 0.00%
Details of NTS, Inc:

Expected to close by the first quarter of 2014 for a closing value of $83 million. Upon completion of the merger, sharheolders of NTS will receive $2.00 per share in cash.

NED 04/02/2014 Rainbow Education Holding Limited (N/A) Cash N/A $2.85 $2.81 34,959 08/15/2014 1.42% 4.37%
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.

NICK 12/18/2013 an indirect wholly-owned subsidiary of Prospect Capital Corporation ("Prospect") (N/A) Cash $340 million $16.00 $15.78 12,979 04/30/2014 1.39% 42.41%
Details of Nicholas Financial Inc.:

Expected to close by April 2014 for a closing value of $340 million. Upon completion of the merger, shareholders of Nicholas Financial will receive $16.00 per share in cash.

TSH 01/13/2014 IberiaBank Corp. (IBKC) Stock $161 million $78.25 $77.49 2,450 06/30/2014 0.98% 4.90%
Details of Teche Holding Company:

Expected to close in the second quarter of 2014 for a closing value of $161 million in an all stock transaction. Under the terms of the agreement, shareholders of Teche Holding Company will receive 1.162 shares of IBKC common stock for each share of Teche common stock outstanding, subject to certain market price adjustments provided for in the merger agreement.

JOSB 03/11/2014 The Men\'s Wearhouse, Inc. (MW) Cash $1.8 billion $65.00 $64.45 794,620 06/30/2014 0.85% 4.27%
Details of Jos. A Bank Clothiers Inc.:

Expected to close in the second quarter of 2014 for a closing value of $1.8 billion. Upon completion of the merger, shareholders of Jos. A Bank Clothiers will receive $65.00 per share in cash.

DLLR 04/02/2014 affiliate of Lone Star Funds (N/A) Cash $1.3 billion $9.50 $9.42 1,285,686 09/30/2014 0.85% 1.88%
Details of DFC Global Corp.:

Expected to close in the third calendar quarter of 2014 for a closing value of $1.3 billion. Upon completion of the merger, shareholders of DFC Global Corp. will receive $9.50 per share in cash.

ESC 02/20/2014 Brookdale Senior Living Inc. (BKD) Stock $2.8 billion $30.15 $29.90 441,090 09/30/2014 0.85% 1.87%
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. 

EPL 03/12/2014 Energy XXI (Bermuda) Limited (EXXI) Cash Plus Stock $2.3 billion $39.10 $38.78 1,737,863 06/30/2014 0.82% 4.09%
Details of EPL Oil & Gas, Inc.:

Expected to close in the second quarter of 2014 for a closing value of $2.3 billion in a cash plus stock deal. Under the terms of the agreement, EPL stockholders will be able to elect, for each share held, either (i) $39.00 in cash, (ii) 1.669 common shares of Energy XXI, or (iii) $25.35 in cash plus 0.584 common shares of Energy XXI. All elections by shareholders will be subject to proration.

NOVB 01/21/2014 TriCo Bancshares (TCBK) Stock $178.4 million $23.04 $22.85 12,162 06/30/2014 0.81% 4.06%
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.

CEDU 12/31/2013 ChinaEdu Holdings Limited ("Holdings") and ChinaEdu Merger Sub Limited ("Merger Sub") (N/A) Cash N/A $7.00 $6.95 1,028 06/30/2014 0.72% 3.60%
Details of ChinaEdu Corporation:

Expected to close in the first or second quarter of 2014 in a going private transaction. Upon completion of the merger, shareholders of ChinaEdu Corporation will receive $7.00 per share in cash.

TBOW 12/10/2013 Trunkbow Merger Group Limited (N/A) Cash N/A $1.46 $1.45 N/A 03/31/2014 0.69% 0.00%
Details of Trunkbow International Holdings, Ltd.:

Expected to close in the first quarter of 2014. Upon completion of the merger, shareholders of Trunkbow International Holdings will receive $1.46 per share in cash.

SWS 04/01/2014 Hilltop Holdings Inc. (HTH) Cash Plus Stock $260 million $7.89 $7.84 64,067 12/31/2014 0.58% 0.82%
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. 

LSI 12/16/2013 Avago Technologies Limited (AVGO) Cash $6.6 billion $11.15 $11.09 3,323,930 06/30/2014 0.54% 2.71%
Details of LSI Corporation:

Expected to close in the first half of 2014 for a closing value of $6.6 billion. Upon completion of the merger, shareholders of LSI Corporation will receive $11.15 per share in cash.

PACR 01/06/2014 XPO Logistics, Inc. (XPO) Cash $296 million $9.00 $8.96 N/A 06/30/2014 0.45% 2.23%
Details of Pacer International, Inc.:

Expected to close in the second quarter of 2014 for a closing value of $335 million. Upon completion of the merger, shareholders of Pacer International will receive $6.00 in cash and $3.00 of XPO Logistics common stock for each share of Pacer common stock, subject to a price collar. If the average price of XPO Logistics stock during the 10 trading days prior to closing is above $32.94 per share, the stock portion will be fixed at 0.0911 shares of XPO Logistics and if it is below $23.12 per share, the stock portion will be fixed at 0.1298 shares of XPO Logistics for each share of Pacer.

UBNK 11/15/2013 Rockville Financial Inc. (RCKB) Stock $369 million $18.13 $18.06 43,715 06/30/2014 0.41% 2.03%
Details of United Financial Bancorp, Inc.:

Expected to close by mid-year 2014 for a closing value of $369 million in an all stock deal. Upon completion of the merger, shareholders of United Financial Bancorp will receive 1.3472 shares of Rockville Financial common stock for each share of United Financial Bancorp.

STSA 09/11/2013 Umpqua Holdings Corporation (UMPQ) Cash Plus Stock $2.0 billion $33.23 $33.10 2,219,555 06/30/2014 0.38% 1.92%
Details of Sterling Financial Corporation:

Expected to close in the first half of 2014 for a closing value of $2 billion in a cash plus stock deal. Under the terms of the agreeement, shareholders of Sterling Financial Corporation will receive 1.671 shares of Umpqua common stock and $2.18 cash for each share of Sterling common stock.

BEAM 01/13/2014 Suntory Holdings Limited (N/A) Cash $16 billion $83.50 $83.27 3,971,979 06/30/2014 0.28% 1.38%
Details of Beam, Inc.:

Expected to close in the second quarter of 2014 for a closing value of $16 billion. Upon completion of the merger, shareholders of Beam will receive $83.50 per share in cash.

SGK 03/17/2014 Matthews International Corporation (MATW) Cash Plus Stock $577 million $20.47 $20.42 166,088 09/30/2014 0.23% 0.51%
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.

UNS 12/11/2013 Fortis, Inc. (N/A) Cash $4.3 billion $60.25 $60.13 176,476 12/31/2014 0.20% 0.28%
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.

KFN 12/16/2013 Kohlberg Kravis Roberts & Co. L.P. (KKR) Stock $2.6 billion $11.76 $11.74 691,810 06/30/2014 0.18% 0.88%
Details of KKR Financial Holdings LLC:

Expected to close in the first half of 2014 for a closing value of $2.6 billion in an all stock deal. Under the terms of the agreement, shareholders of KKR Financial Holdings will receive 0.51 common units of KKR for each common share of KFN.

ANLY 08/28/2013 ACS Motion Control, Ltd. (ACSEF) Cash $35 million $6.45 $6.44 N/A 12/31/2013 0.16% 0.00%
Details of Analysts International Corp.:

Expected to close by the end of the year for a closing value of $35 million. Upon completion of the merger, shareholders of Analysts International will receive $6.45 per share in cash.

MKTG 12/20/2013 Oracle Corporation (ORCL) Cash $1.5 billion $27.00 $26.98 N/A 06/30/2014 0.07% 0.37%
Details of Responsys, Inc.:

Expected to close in the first half of 2014 for a closing value of $1.5 billion. Upon completion of the merger, shareholders of Responsys will receive $27.00 per share in cash.

CNOB 01/21/2014 Center Bancorp, Inc. (CNBC) Stock $243 million $49.89 $49.86 3,036 09/30/2014 0.07% 0.15%
Details of ConnectOne Bancorp, Inc.:

Expected to close in the third quarter of 2014 for a closing value of $243 million in an all stock deal. Under the terms of the agrement, shareholders of ConnectOne Bancorp will receive 2.6 shares of Center common stock for each share of ConnectOne common stock.

VOCS 04/07/2014 GTCR Valor Merger Sub, Inc., an affiliate of GTCR LLC (N/A) Cash $446.5 million $18.00 $17.99 505,415 06/30/2014 0.06% 0.28%
Details of Vocus Inc.:

Expected to close before the second quarter of 2014 for a closing value of $446.5 million. Upon completion of the merger, shareholders of Vocus will receive $18.00 per share in cash.

ATMI 02/04/2014 Entegris, Inc. (ENTG) Cash $1.15 billion $34.00 $33.99 301,509 06/30/2014 0.03% 0.15%
Details of ATMI Inc.:

Expected to close in the second quarter of 2014 for a closing value of $1.15 billion. Upon completion of the merger, sharheolders of ATMI will receive $34.00 per share in cash.

HITK 08/27/2013 Akorn, Inc. (AKRX) Cash $640 million $43.50 $43.49 N/A 03/31/2014 0.02% 0.00%
Details of Hi-Tech Pharmacal Co., Inc.:

Expected to close in the first quarter of 2014 for a closing value of $640 million. Upon completion of the merger, shareholders of Hi-Tech Pharmacal will receive $43.50 per share in cash.

TQNT 02/24/2014 RF Micro Devices Inc. (RFMD) Stock $1.6 billion $13.18 $13.18 1,462,823 12/31/2014 0.02% 0.02%
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.

TXI 01/28/2014 Martin Marietta Materials Inc. (MLM) Stock $2.7 billion $87.89 $87.87 146,535 06/30/2014 0.02% 0.09%
Details of Texas Industries Inc.:

Expected to close in the second quarter of 2014 for a closing value of $2.7 billion. Under the terms of the agreement, shareholders of Texas Industries will receive 0.700 Martin Marietta shares for each share of Texas Industries common stock they own at closing.

ACCL 01/30/2014 Dassault Systèmes (N/A) Cash $750 million $12.50 $12.50 155,630 06/30/2014 0.00% 0.00%
Details of Accelrys Inc.:

Expected to close in the second quarter of 2014 for a closing value of $750 million. Upon completion of the merger, shareholders of Accelrys will receive $12.50 per share in cash.

ACO 03/06/2014 Minerals Technologies Inc. (MTX) Cash $1.7 billion $45.75 $45.75 305,643 04/30/2014 0.00% 0.00%
Details of AMCOL International Corporation:

Expected to close in the first half of 2014 for a closing value of $1.6 billion. Upon completion of the merger, shareholders of AMCOL International will receive $41.00 per share in cash.

Deal Update(s)

March 6, 2014: On March 6, 2014, the Board of Directors of AMCOL International (ACOannounced that a revised proposal received from Minerals Technologies (MTX) to acquire all of the outstanding shares of the Company at a price per share of $45.75 in cash constitutes a "Superior Proposal" as defined in the amended merger agreement between AMCOL and Imerys S.A. previously announced on March 4, 2014.  Under the terms of the amended merger agreement with Imerys (, Imerys would have paid $45.25 per share to AMCOL stockholders.

ZYGO 04/11/2014 AMETEK, Inc. (AME) Cash $280 million $19.25 $19.25 N/A 06/30/2014 0.00% 0.00%
Details of Zygo Corporation:

Expected to close in the second quarter of 2014 for a closing value of $280 million. Upon completion of the merger, shareholders of Zygo Corporation will receive $19.25 per share in cash.

WBCO 10/23/2013 Heritage Financial Corp. (HFWA) Cash Plus Stock $265.1 million $17.69 $17.70 9,989 06/30/2014 -0.04% -0.19%
Details of Washington Banking Co.:

Expected to close in the first half of 2014 for a closing value of $265.1 million in a cash plus stock deal. Under the terms of the merger agreement, Washington Banking shareholders will receive 0.89000 shares of Heritage common stock and $2.75 in cash for each share of Washington Banking common stock.

TOFC 09/10/2013 Old National Bancorp. (ONB) Cash Plus Stock $107.7 million $23.89 $23.90 1,652 03/31/2014 -0.06% 1.19%
Details of Tower Financial Corporation:

Expected to close in the first quarter of 2014 for a closing value of $107.7 million in a cash plus stock deal. Under the terms of the agreement, shareholders of Tower Financial Corporation will receive 1.20 shares of Old National Bancorp common stock and $6.75 in cash for each share of Tower Financial common stock.

ZLC 02/19/2014 Signet Jewelers Limited (SIG) Cash $1.4 billion $21.00 $21.04 891,456 06/30/2014 -0.19% -0.95%
Details of Zale Corporation:

Expected to close for a closing value of $1.4 billion. Upon completion of the merger, shareholders of Zale Corporation will receive $21.00 per share in cash.

LCAV 02/13/2014 PhotoMedex, Inc. (PHMD) Cash $106.4 million $5.37 $5.40 132,572 06/30/2014 -0.56% -2.78%
Details of LCA-Vision Inc. :

Expected to close in the second quarter of 2014 for a closing value of $106.4 million. Upon completion of the merger, shareholders of LCA-Vision will receive $5.37 per share in cash.

COA 02/27/2014 Essilor International (N/A) Cash $430 million $11.21 $11.28 90,402 06/30/2014 -0.62% -3.10%
Details of Coastal Contacts Inc.:

Expected to close in the second quarter of 2014 for a closing value of $430 million. Upon completion of the merger, shareholders of Coastal Contacts will receive $11.21 per share in cash.

TAYC 07/15/2013 MB Financial Inc. (MBFI) Cash Plus Stock $680 million $22.91 $23.06 32,146 06/30/2014 -0.65% -3.26%
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.

ARTC 02/03/2014 Smith & Nephew (N/A) Cash $1.7 billion $48.25 $48.61 344,322 06/30/2014 -0.74% -3.70%
Details of ArthroCare Corporation:

Expected to close in the second quarter of 2014 for a closing value of $1.7 billion. Upon completion of the merger, shareholders of ArthroCare Corporation will receive $48.25 per share in cash.

VSB 01/27/2014 Yadkin Financial Corporation (YDKN) Stock $299 million $6.09 $6.18 12,049 06/30/2014 -1.50% -7.48%
Details of VantageSouth Bancshares, Inc.:

Expected to close in the second quarter of 2014 for a closing value of $299 million in an all stock deal. Under the terms of the agreement, shareholders of VantageSouth Bancshares will receive 0.3125 shares of Yadkin Financial Corporation common stock for each share of VantageSouth Bancshares common stock.

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 $22.94 44,665 12/31/2014 -15.00% -21.30%
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.