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 September 22, 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 September 22, 2019
The Past
- CLOSURES
- Speedway Motorsports (TRK) closed on September 18
- Aquantia (AQ) closed on September 19
- Tribune Media Company (TRCO) closed on September 19
- FAILURES
- There were no deal failures during the week
- LIST REMOVALS
- Aquantia (AQ) – closed on September 19
- Del Frisco’s Restaurant Group (DFRG) – Return no longer ranked in top 20
- Tower International (TOWR) – Return no longer ranked in top 20
- CLOSURES
The Present
- CONSTITUENTS
- The T20 list now operates with a full complement of 20 constituents and 0 cash positions
- NEW DEALS ENTRY(S)
- There were no new deal announcements made during the week that make our list
- EXISTING DEAL ENTRY(S)
- Carbon Black (CBLK)
- Presidio (PSDO)
- Pivotal Software (PVTL)
- LARGEST SPREAD
- The largest simple spread this week is Pacific Biosciences of California (PACB) offering 42.10%.
- AVERAGE SPREAD
- The average spread of the T20 components is 6.14%, which is higher than last week.
- The average completion date is February 5, 2020. This gives an annualized return of 17.07%.
- Previously, February 2, 16.33%.
- CONSTITUENTS
The Future
- EARNINGS
- There are no expected earnings announcements scheduled for this week
- DIVIDENDS
- Presidio (PSDO) goes ex-div September 24 paying $0.04
- Cypress Semiconductor (CY) goes ex-div September 25 paying $0.11
- Monotype Imaging (TYPE) goes ex-div September 28 paying $0.116
- REGULATORY
- Presidio (PSDO) has a possible go-shop expiry on September 23
- MEETINGS
- NorthStar Realty Europe (NRE) has a special meeting scheduled for September 25
- EARNINGS
We will announce deal news relating to this week’s T20 list in real time via our twitter feed @MergeArbLimited.
And Finally…
- We had previously suggested volatility would remain higher. This week was dominated by the Saudi oil attacks and the knock on effects of a rising oil price. As expected, the Fed cut interest rates by 0.25% to help further under pin the continued economic expansion.
- Spreads marginally widened during the week as the broader market failed to make any significant progress. The usual suspects provided the majority of the movement in the T20 index. Namely, RRGB, ONCE & PACB.
