Merger Arbitrage Spread List July 21, 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 21, 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
- Global Brass and Copper (BRSS) was the only deal that closed during the week
- FAILURES
- We expect the CIRCOR International (CIR) deal to have failed during the week but at the time of publication we await confirmation.
- LIST REMOVALS
- WageWorks (WAGE) – Not ranked in top 20 returns
- Shutterfly (SFLY) – Not ranked in top 20 returns
- Del Frisco’s Restaurant Group (DFRG) – Spread less than $0.05
The Present
- CONSTITUENTS
- The T20 list now operates with a full complement of 20 constituents and 0 cash positions
- NEW DEALS ENTRY(S)
- Red Robin Gourmet Burgers (RRGB) is the a new deal that enters our list this week
- EXISTING DEAL ENTRY(S)
- NorthStar Realty Europe (NRE)
- Tower International (TOWR)
- LARGEST SPREAD
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 50.09%.
- AVERAGE SPREAD
- The average spread of the T20 components is 8.52%, which is significantly higher than last week.
- The average completion date is January 11, 2020. This gives an annualized return of 18.71%. Previously January 10, 12.94%.
The Future
- EARNINGS
- Medidata Solutions (MDSO) announces earnings on July 23
- PCM, Inc (PCMI) announces earnings on July 23
- Mellanox (MLNX) announces earnings on July 24
- Cypress Semiconductor Corporation (CY) announces earnings on July 25
- Del Frisco’s Restaurant Group (DFRG) announces earnings on July 25
- REGULATORY
- Array BioPharma (ARRY) has a possible HSR expiry on July 26
- MEETINGS
- Zayo (ZAYO) has a special meetings scheduled for July 26
- 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…
- Corporate earnings will take center stage over the coming weeks and will offer a sense of direction for the markets looking further ahead. Oil prices declined every day during the week as energy stocks suffered. However, market volatility may also be affected as tensions rise again in the Gulf following the siezure of a UK oil tanker by Iran.
- Spreads widened during the week. This is especially true for PACB. CIR also suffered, we have left this deal in the list as we await the outcome of the tender offer. We shall announce any news via our twitter feed.
