Current Price –$14.06;
Offer price – at least $15.36 + $0.4 in dividends, a total of $15.76;
Upside – 12%
The tender offer is expected to be announced at the beginning of Q4 2016 and completed by the end of the quarter. Dividends will be distributed for record holders as of 30th of September 2016.
Current Price –PG $88.31, COTY $25.99;
Offer Price – $1.075 stock of COTY for $1 stock of PG (subject to upper limit of 3.9033 COTY shares per share of PG);
Upside – 7.5% or $650 for Odd Lot holders;
Expiration date – September 29, 2016;
Current Price –$0.92;
Expected distributions – $1.08 – $1.25;
Upside – 15% to 35%;
Distributions are expected to be completed by Q4 2016 or beginning of Q1 2017 (within 6 months). Funds will be distributed only for record holders as of 30th of August.
Current Price –LMT $255.75, LDOS $50.25;
Offer Price – $1.11 stock of LDOS for $1 stock of LMT (subject to upper limit of 8.2136 LDOS ex-dividend shares per share of LMT);
Upside – 11% or $2700 for Odd Lot holders;
Expiration date – August 16, 2016;
Current Price – $13.85;
Offer Price – $13 – $14;
Upside – potentially 1% or $13 (if the upper pricing limit is used);
Expiration date – 9 August 2016;
Current Price – $72.53;
Offer Price – $66 – $72.5;
Upside – no upside currently;
Expiration date – 4 August 2016;
This special situation results from recent forced selling due to delisting from Australia and New Zealand exchanges.
Long investors in Coats Group (listed in London Stock Exchange) stand to make 10%+ if prices revert to back to previous 30p/share vs current GBP 26p/share.
Investment thesis – bet on higher takeover price from AMC as CKEC shareholder will reject the current offer due to price being too low
Carmike Cinemas (4th largest movie theater company in US) is in the process of being bought by AMC Entertainment (2nd largest). This M&A would create the largest movie theater chain in US with obvious benefits and large synergies for AMC.
Carmike Cinemas trades at $30.47 vs. current takeover price of $30.00.
Current Price – $7.55
Offer Price – $7.75
Upside – $12 or 1.5%
Expiration date – 27 June 2016
A quick update
Exchange rate for BAX/BXLT split off transaction (see here for further info) has been determined at 1.1591. To lock in profit from this transaction one needs to buy 99 BAX, short sell 115 BXLT and then tender BAX shares till tomorrow (18th of May).