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Merger Arbitrage

Company Ticker Acquirer Announced Date Deal Price Current Price Spread Expected Close
Frischs Restaurants FRS NRD Partners I, L.P. 5/22/2015 $34.00 $33.69 0.9% 9/30/2015
Eagle Rock Energy Partners, L.P. EROC Vanguard Natural Resources 5/21/2015 $3.07 $2.74 12.1% 9/30/2015
Omnicare OCR CVS Health 5/21/2015 $98.00 $96.12 2% 12/31/2015
ANN, Inc. ANN Ascena Retail 5/18/2015 $47.59 $46.97 1.3% 12/31/2015
Williams Partners WPZ Williams 5/13/2015 $59.08 $58.13 1.6% 9/30/2015
Pall Corp. PLL Danaher 5/13/2015 $127.20 $124.59 2.1% 12/31/2015
AOL AOL Verizon 5/12/2015 $50.00 $50.26 -0.5% 8/31/2015
Trade Street Residential TSRE Independence Realty Trust 5/11/2015 $7.42 $7.27 2.1% 9/30/2015
Rosetta Resources ROSE Noble Energy 5/11/2015 $23.74 $23.47 1.1% 9/30/2015
Quality Distribution QLTY Apax Partners 5/7/2015 $16.00 $15.83 1.1% 9/30/2015


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.