Patriot Capital Funding Inc. (PCAP) is being bought by Prospect Capital Corp. (PSEC). Another all-stock deal. I’ll get 0.3992 shares of PSEC for each share of PCAP. It is supposed to close in October, so my money turn over on this one should be quick.
Crunch:
Buy 1 share of PCAP today (9/21/2009) for $3.89 and, when [...]
Harleysville National Corp. (HNBC) by First Niagara Financial Group (FNFG) all-stock deal. (I am not a big fan of all-stock deals). The exchange ratio is 0.474 FNFG shares for each HNBC share.
Current prices 9/21/2009: HNBC $5.63 and FNFG $13.02.
Crunch:
I buy one share of HNBC today for $5.63. The deal closes and I get 0.474 sh [...]
AT&T and CYCL both said recently that the merger deal will happen early Q4, 2009:
“… AT&T and Centennial Communications Corp. (NASDAQ: CYCL) announced today that, assuming timely satisfaction or waiver of all remaining closing conditions including receipt of the required regulatory approvals, they now anticipate the pending acquisition of Centennial by AT&T to be completed [...]
Looks like my position in TAGS paid off (press release here). (Here’s my original post on when I bought it).
I was in at $0.72. The deal was $0.85. My deal ROI was 18% (annualized ROI 35%). Not bad!
Other sources:
TradingMarkets.com article
Deutsche Telekom is chasing Sprint. No deal annouced yet, and stock gapped up today. Currently it is up 10% on the news.
“Sources said Deutsche Telekom (DT) could submit a bid for Sprint, which has a market valuation of $10.6bn (£6.3bn), within the next few weeks.” - telegraph.co.uk article
Just hazzarding a guess, I would says DT [...]
Update (1)
Nice article on SeekingAlpha talks about how Agrium’s bid for CF affects CF’s bid for TRA (and vice versa):
Article points to the fact that the market is pricing a higher probablity of the Agrium-Cf deal getting done instead of the CF-TRA deal:
“In the interim, the market seems to be betting on an Agrium-CF combination,” [...]
