Merger Arbitrage Spread List
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 August 11, 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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You can download our FREE to use Excel merger arbitrage spread calculation tool. This can calculate any stock-for-stock deal spreads you may be interested in along with detailed instructions for use. Subsequently, this tool can also be used in a pairs trading strategy.
Merger Arbitrage Spread List August 11, 2019
The Past
- CLOSURES
- Barnes & Noble (BKS) closed August 7
- FAILURES
- There were no deal failures during the week
- LIST REMOVALS
- Aquantia (AQ) – Return no longer ranked in top 20
- Tower International (TOWR) – Return no longer ranked in top 20
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)
- PCM, Inc (PCI)
- Cray Inc (CRAY)
- LARGEST SPREAD
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 40.85%.
- AVERAGE SPREAD
- The average spread of the T20 components is 6.67%, which is marginally higher than last week.
- The average completion date is January 18, 2020. This gives an annualized return of 15.66%.
- Previously, January 19, 14.75%.
The Future
- EARNINGS
- Pivotal Software (PVTL) announces earnings on September 4
- Presidio (PSDO) announces earnings on September 6
- REGULATORY
- Cypress Semiconductor (CY) possible HSR expiry August 18
- MEETINGS
- Medidata Solutions (MDSO) special meeting August 16
- DIVIDENDS
- NorthStar Realty Europe (NRE) goes ex-div August 12
- Versum Materials (VSM) goes ex-div August 13
- Tribune Media Company (TRCO) goes ex-div August 16
We will announce deal news relating to this week’s T20 list in real time via our twitter feed @MergeArbLimited.
And Finally…
- Corporate earnings have played an important role the past week. Some spread have taken great comfort from strong earnings performances whilst deal uncertainty continues. The Chinese have stated we are not about to enter a currency war which went some way to calm market fears. Subsequently, once the latest salvos are out of the way, we can wait to see what progress (if any) can be made as the dust settles.
- Spreads widened slightly during the week amid market volatilty. As usual, PACB dominated portfolio volatility but this time putting in a strong positive performance. Also, ACIA was the culprit in bringing down the performance of the portfolio.
