Merger Arbitrage Spread List June 30, 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 30, 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
The Past
- There were no current list members closing during the week.
- There were no deal failures from last week’s list.
- Cray Inc. (CRAY) and International Speedway (ISCA) are the two stocks dropping out of the list this week. These stocks are now trading close to their offer prices and offering little value.
The Present
- The T20 list now operates with a full complement of 20 constituents and 0 cash positions
- WageWorks (WAGE) and Electronics for Imaging (EFII) are two existing deals to enter our list this week.
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 32.23%.
- The average spread of the T20 components is 5.29% which is higher than last week. This reflects the widening spread following the continued decline of PACB.
- The average completion date is January 7, 2020 (versus January 13 previously). This gives an annualized return of 10.35%
The Future
- International Speedway (ISCA) announces earnings on Wednesday July 3 BMO.
- There are no special meetings scheduled for the coming week from list members.
- Barnes & Noble (BKS) goes ex-div on Wednesday July 3.
- We will announce deal news relating to this week’s T20 list in real time via our twitter feed @MergeArbLimited.
And Finally…
- Regulatory issues again appear to dominate the headlines this week. A meeting between China and the USA has calmed the markets and is expected to boost prices in the coming week.
- Spreads broadly widened during the week but with specific issues taking the spotlight. This is especially true for PACB. New deals continue to be announced and make it into our list which is encouraging. Thus, opportunities remain available. We now anticipate lower volatility on the back of a positive G20 summit and would expect a broader narrowing of spreads.
