Merger Arbitrage Spread List July 28, 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 28, 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
- There were no deals from the list that closed during the week
- FAILURES
- The tender offer for CIRCOR International (CIR) closed Friday 19th July. The deal did not complete and Crane (CR) stated they were not pursuinig the deal further. Subsequently, the stock has been removed as per the stated rules with an exit price widely achieveable on the morning of Monday the 22nd July.
- LIST REMOVALS
- Tower International (TOWR) – 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 ENTRY(S)
- There are no new deals that enter our list this week
- EXISTING DEAL ENTRY(S)
- Shutterfly (SFLY)
- Aquantia (AQ)
- LARGEST SPREAD
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 52.67%.
- AVERAGE SPREAD
- The average spread of the T20 components is 6.87%, which is significantly higher than last week.
- The average completion date is January 19, 2020. This gives an annualized return of 14.68%.
- Previously, January 11, 18.72%.
The Future
- EARNINGS
- Advanced Disposal Services (ADSW) announces earnings on July 30
- Sotheby’s (BID) announces earnings on July 30
- Tower (TOWR) announces earnings on July 30
- Buckeye Partners (BPL) announces earnings on August 1
- REGULATORY
- Wageworks (WAGE) possible HSR clearance
- MEETINGS
- Control4 (CTRL) has a special meetings scheduled for July 30
- Buckeye Partners (BPL) has a special meetings scheduled for July 31
- 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 now take center stage especially next week with over a third of the S&P 500 reporting. In addition, there is a large amount of economic data to be released. The most prominent being the FED’s interest rate decision expected on Wednesday.
- Spreads narrowed during the week tracking the broader market. Even though PACB widened slightly and CIR was removed opportunities are still available and spreads remain healthy.
