Merger Arbitrage Spread List June 9, 2019
This list of the largest merger arbitrage spreads is a FREE list of cash spreads trading on major US exchanges. The Merger Arbitrage Spread List June 9, 2019 is the latest list of opportunities available. The FREE spreadsheet below contains the latest essential deal information and criteria as per official company announcements. This merger arbitrage spread list provides the user with an investable database of deal spread opportunities. This information can provide a solid foundation for making merger arbitrage investing part of your investment portfolio. We encourage traders and investors to perform their own due diligence before making investments. However, merger arbitrage (also known as risk arbitrage) is relatively simple to understand and execute.
Merger Arbitrage Spread List Guidelines
Each Sunday, mergerarbitragelimited.com transfers a copy of this page, including the embedded excel file, to the “Spreads Archive” page for easy reference. You can find last weeks top 20 in this section. A companion post, a review of the week’s biggest movers to the previous week’s list of largest merger arbitrage spreads is also available. This companion report highlights the gainers & losers as well as deal completions or failures along with additional merger arbitrage investment commentary.
For more advanced users the individual generic URL for these archived pages is “https://mergerarbitragelimited.com/largest-merger-arbitrage-spreads-YYYYMMDD“. Where “YYYYMMDD” is the international standard ISO 8601 for dates. For example, a trader could use this generic URL BUT replace “YYYYMMDD” with “20190609”. This would refer to Sunday June 9, 2019 (a Sunday archived list). In this example, the trader locates directly the list of largest merger arbitrage spreads 20190609 post.
Merger Arbitrage Spread List June 9, 2019
The Past
- Former member Nightstar Therapeutics (NITE) was the only deal we have previously tracked t0 close during the week
- There were no deal failures from last week’s list.
- Amber Road (AMBR), CIRCOR International (CIR) and WageWorks (WAGE) are the three stocks dropping out of the list this week. With the latter two stocks trading above the current offer price in anticipation of higher bids.
The Present
- The T20 list now operates with a full complement of 20 constituents and 0 cash positions
- Cypress (CY) and El Paso Electric (EE) are new deals to enter our list this week
- Cray Inc (CRAY) is an existing deal that also enters the T20 list.
- The largest (simple) spread this week is Pacific Biosciences of California (PACB) offering 16.11%.
- The average spread of the T20 components is 4.13%. This return is almost identical to last week. This reflects the large spreads from newly announced deals mentioned above.
- The average completion date is December 16 (versus November 28). This gives an annualized return of 8.08%
The Future
- There are no earnings announcements from the members of the list scheduled for this week
- Quantenna Communications (QTNA) has a special meetings are scheduled for 14 June
- El Paso Electric (EE) goes ex-div on 13 June.
- Deal announcements relating to this week’s T20 list will be announced in real time via our twitter feed @MergeArbLimited
And Finally…
- Deal spreads with Chinese connections continue to be volatile. Trade issues continue to dominate although the most recent flashpoint between the USA and Mexico appears to have found a solution.
- Spreads remain wide despite a recovery in the broader market. Interest rates have given arbitrageurs a welcome boost. With new deals announced, opportunities are still available in the market. Readers may be able to take some profits and redeploy capital in new opportunities. We advise investors to use caution and always fully research investments.
- Be careful using leverage in these situations, especially longer dated deals.
