Merger Arbitrage Spread List July 14, 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 July 14, 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.
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Merger Arbitrage Spread List
The Past
- CLOSURES
- Redhat (RHT) was the only deal that closed during the week
- FAILURES
- There were no deal failures from last week’s list.
- REPLACEMENTS
- NorthStar Realty Europe (NRE) – Not ranked in top 20 returns
- Aquantia (AQ) – Not ranked in top 20 returns
The Present
- CONSTITUENTS
- The T20 list now operates with a full complement of 20 constituents and 0 cash positions
- NEW DEALS
- Acacia Communications (ACIA) is the a new deal that enters our list this week
- EXISTING DEALS
- CIRCOR International (CIR) & Del Frisco’s Restaurant Group (DFRG) are existing deals that enter our list this week.
- LARGEST SPREAD
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 34.68%.
- AVERAGE SPREAD
- The average spread of the T20 components is 6.22%, which is marginally lower than last week.
- The average completion date is January 11, 2020 (versus January 10 previously). This gives an annualized return of 12.94%
The Future
- EARNINGS
- Mellanox (MLNX) announces earnings on July 24
- Del Frisco’s Restaurant Group (DFRG) announces earnings on July 25.
- REGULATORY
- Array BioPharma (ARRY) has a possible HSR expiry on July 26
- MEETINGS
- There are no special meetings scheduled for the week
- DIVIDENDS
- There are no stocks going ex-div this week from the list.
We will announce deal news relating to this week’s T20 list in real time via our twitter feed @MergeArbLimited.
And Finally…
- Central bank monetary policy has become the primary factor governing market performance whilst traders are also keeping a close eye on the trade talks between China and the USA. The focus will shift as 2Q earnings season begins shortly.
- Spreads widened during the week. This is especially true for CIR & PACB. One new deal announcement supplies a fresh opportunity. We had an expectation of lower volatility as markets continue to rise but can see turbulance increasing (earnings season) in the near future.
