Eli Lilly has completed its tender offer for ImClone Systems. I had this one in my simulated portfolio. Here’s how I made out:
Entry Date: 10/10/2008
Entry Price: $65.00
Tender off price: $70.00
Deal closed: 11/24/2008
ROI: 7.69%
Annualized Return: 62.9%
Not bad! If I had added this one to my real money port, I most likely would have been in for [...]
Reuters reports that Roche’s ability to raise funding for the Genentech merger are in doubt.
“…In light of the current climate, a $45 billion loan looks large. It would have to be a combination of everything — Roche would have to print bonds to get the deal done,” a senior banker close to the deal said.”
“…I [...]
The original deal was to exchanbge 0.485 shares of EXC for each share of NRG. (See this link for all my related posts about NRG.)
“The second rejection by NRG Energy’s board of directors came nearly two weeks after Exelon took its bid directly to NRG Energy shareholders by launching an exchange offer for all [...]
According to Reuters, Roche is standing firm on it’s current buy-out deal.
Roche Holding Ltd. sticking by its $43.7 billion offer to buy out the rest of Genentech Inc.
Deal recap:
As I originally posted here, the details are:
Deal price: $89/sh
Nov 18 price: $80.63
ROI: 10.4%
Sources:
http://www.reuters.com/article…
Well, the deal offer is still the same: 0.485 shares of Exelon stock for each share of NRG.
Note:
Exelon said the exchange offer will expire at 5 p.m. EST on Jan. 6, 2009.
So my, my number crunch (which I wrote about here) is still basically the same. However, the new risk for this deal is that, [...]
UPDATE: Deal passes federal antitrust review.
Target: UST Inc. (UST) - formally United States Tobacco Company.
Buyer: Altria Group, Inc. (MO) - owns cigarette maker Philip Morris USA Inc.
Last Trade: $67.74 (was $65.34 on 10/14/2008 when I originally started tracking this deal)
Deal Price: $69.50
Deal closes: Early January 2009? (1/7/2009 via Morningstart.com article)
Back story:
“While Altria currently [...]
The CAPA deal is done. As I mentioned here, the deal did not have much arb potential for the small money amounts I can invest (hey, I have a small bankroll). However, in my simulated portfolio, I did make a positive net on the arb play.
Entry point: 10/14/2008 @ $4.70/sh.
Exit point: 11/3/2008 @4.80/sh
ROI: [...]
Update: NRG’s board made an official response today in regards to the offer. Not much new, but still looks like Exelon might go hostile:
Rowe (CEO of Exelon) said that Exelon “will get to a point soon where we consider it appropriate to take our offer directly to NRG shareholders rather than continue to wait [...]
Well, the banks are off the hook now (see this article at Marketwatch.com). Looks like Hexion is gonna be in some deep financial straights if it has to pony up all those millions if the deal goes south.
Regardless, I no longer have my status for this one as a Buy. I do own shares in [...]
The banks at the heart of the Hunstman deal are backtracking on their commitment to fund the merger. Acquirer Hexion is suing those banks to force them to fund the deal. There are some big financial penalties for Hexion if they cannot complete the deal, so they have some serious motivation to sue [...]
