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Merger Arbitrage

Company Ticker Acquirer Announced Date Deal Price Current Price Spread Expected Close
Caesars Acquisition Company CACQ Caesars Entertainment 12/22/2014 $7.23 $7.83 -7.7% N/A
Courier CRRC Quad/Graphics 1/16/2015 $20.50 $23.47 -12.7% 6/30/2015
City National Corporation CYN Royal Bank Of Canada 1/22/2015 $89.63 $86.69 3.4% 12/1/2015
Meadowbrook Insurance MIG Fosun 12/30/2014 $8.65 $8.30 4.2% 6/30/2015
MWI Veterinary Supply MWIV AmerisourceBergen 1/12/2015 $190.00 $189.67 0.2% 3/31/2015
NPS Pharmaceuticals NPSP Shire plc 1/11/2015 $46.00 $45.86 0.3% 3/31/2015
Peerless Systems Corp PRLS Mobius Acquisition 12/22/2014 $7.00 $6.95 0.7% 3/31/2015
Regency Energy RGP Energy Transfer Partners 1/26/2015 $25.29 $25.66 -1.5% 6/30/2015
Silicon Image SIMC Lattice Semiconductor 1/27/2015 $7.30 $0.00 0% 3/31/2015
Uranerz Energy Corp. URZ Energy Fuels 1/5/2015 $1.16 $1.10 5.7% 6/30/2015


Highlighted Deal

December 8, 2014 - Merck (NYSE: MRK) and Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) announced that the companies have entered into a definitive agreement under which Merck will acquire Cubist for $102 per share in cash, which represents a 35 percent premium to Cubist’s average stock price for the most recent five trading days.

Unanimously approved by the boards of directors of both companies, the transaction has an equity valuation of $8.4 billion and will also include $1.1 billion in net debt (based on projected cash balances) and other considerations for a total transaction value of approximately $9.5 billion.