SGA – Potential Company Sale – 25%+ Upside
DNTL.TO – Potential Buyout – Upside TBD
CBIO – Liquidation – 29% Upside
SGA – Potential Company Sale – 25%+ Upside
DNTL.TO – Potential Buyout – Upside TBD
CBIO – Liquidation – 29% Upside
BBXIA – Price Pullback Post Tender Offer – 8% Upside
SPNE – Merger Arbitrage – 21% Upside
UNVR – Potential Buyout – 31% Upside
TRQ.TO – Merger Arbitrage and Appraisal Rights
TBRD.V – Activist Campaign/Potential Sale
SCU – Strategic Review/Potential Sale – Upside TBD
GSMG – Chinese Take-Private
LMN.SW – Activist Campaign/Potential Sale
SO.PA – Expected Tender Price Increase
CCRD – Potential Buyout
OYST – Merger Arb & CVR
WGO.AX – Potential Bidding War
ACQ.TO – Tender Offer
AIMC – Merger Arbitrage – 9% Upside
0273.HK – Merger Arbitrage – 20%+ Upside
IMO.TO – Odd-Lot Tender Offer – $1100 Upside
AKUS – Merger Arbitrage & CVR – Upside TBD
LMST – Merger Arbitrage – 5% Upside
NTO.AX – Potential Bidding War- Upside TBD
SCHL – Odd Lot Tender Offer – $260 Upside
GNX.AX – Merger Arbitrage – 25% Upside
SIOX – Strategic Review – 50% Discount To Net Cash
SOT-UN.TO – Strategic Review/Activist Campaign – Upside TBD
TBPH – Odd Lot Tender Offer – $75 Upside
PMCB – Strategic Review/Activist Pressure – 37% Upside
GFF – Strategic review – Upside TBD
B – Merger Arbitrage – 90%+ Upside
DXC – Potential Takeover – 64% Upside
AGF-B.TO – Odd Lot Tender Offer – C$75 Upside
ZVO – Liquidation – 200% Upside
CANO – Potential Takeover – 58% Upside
XX.V – Potential Takeover – 60%+ Upside
OIIM – Chinese Privatisation – 25% Upside
KNBE – Merger Arbitrage – 15% Upside
LSF – Merger Arbitrage – 67% Upside
MN – Merger Arbitrage – 5% Upside
VNET – Merger Arbitrage – 36% Upside
SGA – Potential Takeover – 22% Upside
PRPL – Non-Binding Takeover Interest – 11% Upside
DMS – Privatization By Management – 20% Upside
BOCH.L – Merger Arbitrage – 15%+ Upside
VLNS – Merger Arbitrage – 8% Upside
TNA.V – Merger Arbitrage – 6.5% Upside
APE – Share Class Arbitrage – 69% Upside
IMRA – Strategic Review – 58% Upside
SWKH – Potential Takeover – 24% Upside
FBRX – Multiple Activist Campaigns – 30% Upside
AGS – Merger Arbitrage/Potential Higher Offer – 21%+ Upside
ATCO – Expected Higher Bid – 16% Upside
IS – Merger Arbitrage – 27% Upside
LOTZ – Merger Arbitrage – 40% Upside
ALX – Activist Campaign – 50% Upside
TTNP – Reverse Merger/Activism – TBD Upside
IFM.AX – Merger Arbitrage/Bidding War – 9%+ Upside
KINS – Potential Sale / Activist Pressure – 30%+ Upside
KLTR – Merger Arbitrage – 16%+ Upside
ANGN – Net-Net / Strategic Review – 34% Upside
HSBI – Merger Arbitrage – 5% Upside
URF.AX – Liquidation – 100% Upside
IMRA – Strategic Review – 100% Upside
RPID – Merger Arbitrage – 9%+ Upside
RAP.AX – Merger Arbitrage – 27% Upside
RDUS – Merger Arbitrage With CVR – 12x Upside
NXDT – REIT Conversion – 40%-50% Upside
CBIO – Expected Liquidation – 16% Upside
MITO – Going Private – 7%+ Upside
RBCN – Cash Shell with a Tender Offer – 18x Upside
RFP – Merger Arbitrage with CVR – 32% Upside
FEC.TO – Odd Lot Tender Offer – 18% Upside
GSMG – Chinese Take-Private – 15% Upside
EVO.AX – Activist Campaign/Company Sale – 100% Upside
USWS – Merger Arbitrage – 10% Upside
WOW – Rumored Sale – TBD Upside
UEX.TO – Merger Arbitrage – 6% Upside
Current Price: $26.63
Acquisition Price: $24.25 + $5.60 est. SpinCo NAV
Upside: 12%
Estimated Completion: Q2 2022
TGR.AX – Potential Higher Offer – TBD Upside
0709.HK – Take Private Atempt – TBD Upside
ACQ.TO – Tender Offer – TBD Upside
EPZM – Pharma CVR – 66% Upside
RAP.AX – Merger Arbitrage – 17% Upside
CCHWF – Merger Arbitrage – 13% Upside
LAIXY – Chinese Take-Private – 11% Upside
POEFF – Merger Arbitrage + Spin-off – 6%+ Upside
We are refreshing our review of all merger arbs with wide spreads. This is a continuation of the analysis from two months ago. Some of these have already been highlighted or posted on SSI. The spreads on average are not as wide as during the market rout at the beginning of July, but still, there are some potentially attractive opportunities.
WEN – Takeover Interest – 40% Upside
HMTV – Merger Arbitrage – 6%+ Upside
HLG – Chinese Take-Private – 11% Upside
FCIT – Merger Arbitrage – 9% Upside
OMEX – Litigation – 10x-30x Upside
PIRI.L – Merger Arbitrage – 22% Upside
KTTA – Activist Campaign – 88% Upside
ABIO – Activist Campaign – 35% Upside
Current Price: A$0.33
Offer Price: A$0.36
Upside: 9%
Expected Closing: 1st of August’22
Current price: $11.64
Target price: TBD
Upside: TBD
Expiration Date: TBD
Current Price: $4.3
Redemption Price: $10.0 (incremental increases through 2025)
Upside: 100%+
Expiration Date: 2025
Current Price: A$1.35
Target Price: TBD
Upside: TBD
Expiration Date: 2022-2023
Current Price: £0.035
Liquidation Value: £0.067
Upside: 90%+
Expiration Date: end 2024
Current Price: $13.8
Target Price: TBD
Upside: Potential for 100%+
Expiration Date: Fall 2022
Current Price: C$0.145
Offer Price: C$0.18
Upside: 26%
Expected Closing Date: July 2022
Current Price: $22.00
Target Price: $26.05+
Upside: 18%+
Expiration Date: May 2022
Current Price: $13.80
Offer Price: $12.89 (likely to be increased)
Upside: exp. up to 10%
Timeline: 2-3 months
Current Premium: 23%
Average Premium: 5%
Upside: 18%
Expiration Date: TBD
Merger arb spreads are wide and there is a high number of opportunities now present in the straight-forward merger arbitrage space. Some of these have already been highlighted or posted on SSI. But to get a better picture, we have reviewed all US M&A deals with spreads of 10%+ (or close to it).
Current Price: $0.99
Offer Price: $1.15
Upside: 16%
Expiration Date: Q3 2022
Current Price: $11.73
Offer Price: $13.00
Upside: 10%
Expiration Date: July 2022
Current Price: $1.28
Offer Price: $1.55 (adj. by the ADS fee)
Upside: 20%+
Expected Closing Date: H2 2022
Current Price: $0.91
Offer Price: $1.03
Upside: 13%
Expected Closing Date: Early Q3 2022
Current Price: $14.70
Offer Price: $15-$17 (with potential to be increased)
Upside: TBD
Expiration Date: Q2 2022
Current Price: C$0.25
Offer Price: C$0.35
Upside: 34%
Expiration Date: TBD
Current Price: £2.64
Offer Price: £3.20 (£2.20 will be returned shortly)
Upside: 21% (or +125% for the stub)
Expected Closing Date: Q2 2022
Current Price: C$61.88
Offer Price: C$62-C$78
Upside: C$12-C$1600 (for odd-lot positions)
Expiration Date: 10th of June
Current Price: $24.25
Offer Price: $26.47-$27.32
Upside: 9%-13%
Expected Closing: Q2 2022
Current Price: $28.71
Offer Price: $28-$32
Upside: $325 (for odd-lot positions at the upper price limit)
Expiration Date: 27th of May
Current Price: C$102.36
Offer Price: C$103 – C$120
Upside: C$800 (if priced in the middle of the range)
Expiration date: 6th of May 2022
Current Price: C$0.41
Offer Price: C$0.4 + 1 spin-co at C$0.072/share
Upside: up to 15%
Expected Close: March 2022
Current Premium: 20% (LTRPA at $2.01 and TRIP at $24.2)
Target Premium: -15%
Upside: 20%+ (depending on hedging ratio used)
Expiration Date: TBD
Current Price: $15.16
Offer Price: $16.00 (potentially increased)
Upside: 6%+
Expiration Date: TBD
Current Price: $10.43
Offer Price: $12.00
Upside: 15%
Expiration Date: Q2 2022
Current Price: $21.84
Offer Price: $24.65
Upside: 13%
Expected Closing Date: TBD
Current Price: A$4.91 (updated, see comment below)
Offer Price: A$5.40+ (updated, see comment below)
Upside: 10%+
Expected Closing: TBD
Current Price: €262
Target Price: TBD
Upside: TBD
Expiration date: Q4 2021
Current Price: £0.086/share
Liquidation Value: £0.104+/share
Upside: 20%+
Expiration Date: 21st of Feb
Current price: C$14.68
Offer price: C$15.50 – C$16.50
Upside: C$80 (for odd lots at the lower limit)
Expiration: 27th of January 2022
Current Price: $1.02
Target Price: $1.75+
Upside: 75%
Expiration Date: Q4 2021
Current Price: $15.72
Offer Price: $17.10
Upside: 9%
Expected Closing: TBD
Current Price: $0.9
Target Price: $1.08
Upside: 20%
Expiration Date: Q1 2022
Current Price: €13.00
Offer Price: €15.87
Upside: 22%
Expected Closing: Q2-Q3 2022
Current Price: HK$0.82
Offer Price: HK$0.88 (expected to be increased)
Upside: TBD
Expected Close: TBD
Current Price: $22.11
Offer Price: $23.5
Upside: 6%
Expected Close: Q1 2022
Current Price: £0.552
Offer Price: £0.675 (updated to c. £0.725)
Upside: 22%
Expiration Date: TBD
Current Price: $0.60
Liquidation Value: $1.019
Upside: 70%
Expiration Date: mid-2022
Current Price: $20.00
Offer Price: $22.76
Upside 14%
Expected Closing Date: Q4 2021
Current Price: C$41.46
Offer Price: C$43.50 – C$48.50
Upside: C$200 – C$700 (upper and lower limit for odd lots)
Expiration Date: 21st December 2021
Current Price: $20.52
Offer Price: $22.60
Upside: 10%
Expected Closing Q4 2021
Current Price: $9133
Offer Price: $9840
Upside: 8%
Expected Closing: December 2021
Current Price: $4.02
Offer Price: $4.2
Upside: 5%
Expected Closing: Q4 2021
Current Price: £0.235
Offer Price: £0.27
Upside: 17%
Expected Closing: Q1 2022
Current Price: $59.6
Target Price: $85
Upside: 45%
Expiration Date: TBD
Current Price: $1.90
Target Price: TBD
Upside: TBD
Expiration date: TBD
Current Price: C$3.40
Offer Price: C$4.05 – C$4.25
Upside: C$65 (for odd lot accounts with no withholding taxes)
Expiration Date: 26th of November
Current Price: $6.95
Offer Price: $7.50
Upside: 8%+
Expected Closing: TBD
Current Price: A$0.59
Offer Price: A$0.56 (potentially to be increased)
Upside: TBD
Expiration: Q4 2021
Current Price: $23.24
Offer Price: $27.00
Upside: 16%+
Expiration Date: TBD
Current Price: $14.60
Offer Price: $15.55 (updated to $20)
Upside: 7% (updated to 10%)
Expected Closing: Q4 2021
Current Price: $23.48
Offer Price: $25.5
Upside: 9%
Expected Close: Q4 2021
Current Price: £0.82
Offer Price: £0.925
Upside: 13%
Expected Closing: July, 2021
Current Price: $23.52
Offer price: $24.75
Upside: 5%
Expected closing: late 2021/early 2022.
Current Price: C$25.65
Offer Price: C$29.88
Upside: 17%
Expected Closing: Q4 2021
Current Price: C$1.10
Offer Price: C$1.15
Upside: 5%
Expiration Date: TBD
Current Price: $20.35
Offer Price $22
Upside: 8%
Expected Close: Q1 2022
Current Price: $37.55
Offer Price: $39.47-$43.22
Upside: 5%-15%
Expected Closing: Q2 2021
Current Price: £9.03
Offer Price: £9.62
Upside: 7%
Expiration Date: TBD
Current Price: $2.99
Target Price: $5.51 (uncertain)
Upside: 84%
Expiration Date: TBD
Current Price: $25.75
Offer Price: $23.00 – $27.00
Upside: $123 (for odd lots at upper limit)
Expiration Date: 13th of October 2021
Current Price: A$0.45
Offer Price: A$0.55
Upside: 22%
Expected Closing: TBD
Current Price: $8.54
Offer Price: $7.90 – $9.00 and $11+ in liquidation case
Upside: $45 in tender for odd-lots or 35%+ in liquidation case
Expiration Date: October 1st, 2021
Current Price: $18.62
Offer Price: $19.84
Upside: 7%
Expected Closing Date: Q1 2022
Current Price: $24.60
Offer Price: $25.00 – $28.00
Upside: $340 (for odd-lots)
Expiration Date: 8th of November
Current Price: $0.0629
Offer Price: $0.0674
Upside: 7%
Expected Closing: Q4 2021
Current Price: C$0.08
Offer Price: C$0.096
Upside: 20%
Expected Closing: September 2021
Current Price: HK$4.10
Offer Price: HK$5.00
Upside: 22%
Expected Closing: end 2021
Current Price: $26.01
Target Price: $30.15
Upside: 15%
Expiration Date: TBD
Current Price: £0.75
Offer Price: £0.80 (higher offer is expected)
Upside: 7%
Expected Closing: Q3 2021
Current Price: C$3.32
Offer Price: C$3.6
Upside: 8%
Expiration Date: Q4 2021
Current Price: $6.19
Offer Price: $6.21
Upside: TBD
Expected Closing: Q3 2021
Current Price: A$13.99
Target Price: A$15.75
Upside: 13%
Expiration date: Sep 2021
Current Price: $4.57
Offer Price: $5.10
Upside: 12%
Expected Closing: H1 2021
Current Price: $41.82
Offer Price: $44.05
Upside: 5%+
Expected Closing Date: Aug’21
Current Price: $8.26
Offer Price: $9.00
Upside: 9%
Expected Closing: mid-2021
Current Price: C$84.43
Offer Price: C$85 – C$98
Upside: C$1340 (if priced at the upper limit)
Expiration Date: 17th of August 2021
Current Price: £1.514
Offer Price: £1.50 (expected to be increased)
Upside: TBD
Expiration Date: TBD
Current Price: C$0.135
Offer Price: C$0.165
Upside: 22%
Expected Closing: September 2021
Current Price: $13.09
Offer Price: $12.50-$15
Upside: $189 (if priced at the upper limit)
Expiration date: 6th of August, 2021
Current Price: $3.16
Offer Price: $3.65
Upside: 16%
Expected Closing: TBD
Current Price: $0.21
Target Price: $0.30
Upside: 43%
Expiration Date: TBD
Current Price: C$2.14
Offer Price: C$2.26
Upside: 6%
Expected Closing: early July 2021
Current Price: $23.76
Offer Price: $24-$26.25
Upside: $246 (if priced at the upper limit)
Expiration Date: 22nd of June 2021
Current Price: $3.68
Offer Price: $4.00
Upside: 9%
Expected Closing: TBD
Current Price:$6.15
Offer Price: $6.50
Upside: 6%
Expected Closing: TBD
Current Price: $71.72
Offer Price: $79.05
Upside: 10%
Expected Closing Date: TBD
Current Price: $19.70
Offer Price: $21.03
Upside 7%
Expected Closing: Q3 2020
Current Price: C$37.24
Offer Price: C$41.00+ (updated C$45.00)
Upside: 10%
Expiration Date: TBD
Current Price: $60
Offer Price: $56 – $63
Upside: $300 (if priced at the upper limit)
Expiration date: 14th of June, 2021
Current Price: $42.30
Target Price: $51
Upside: 20%
Expiration date: TBD
Current Price: C$0.28
Offer Price C$0.32
Upside: 15%
Expected Closing: end of May’21
Current Price: A$0.87
Offer Price: A$0.92
Upside: 6%
Expected Closing: May 2021
Current Price: $1.06
Offer Price: $1.20
Upside: 13%
Expiration Date: 10th of May 2021
Current Price: C$0.285
Offer Price: C$0.392
Upside: 38%
Expected Closing: early May 2021
Current Price: C$7.73
Offer Price: C$7.55 – C$8.30
Upside: C$56 (for odd-lots at the upper limit)
Expiration date: 12th May
Current Price: $8.40
Offer Price: $9.75
Upside: 4%+
Expiration date: 13th of April
Current Price: C$0.125
Offer Price: C$0.157
Upside: 25%
Expiration Date: TBD
Current Price: A$3.24
Offer Price: A$3.50
Upside: 8%
Expected Closing: TBD
Current Price: C$0.74
Offer Price: C$0.94+
Upside: 27%+
Expected Closing: April/May 2021
Current Price: £1.39
Offer Price: £1.70
Upside: 22%
Expected Closing Date: TBD
Current Price: $2.77
Offer Price: $2.86
Upside: $270 (for 2999 shares)
Expiration Date: TBD
Current Price: $70
Offer Price: $66.25 – $76.00
Upside: $600 (odd-lot)
Expiration Date: 5th of April 2021
Current Price: £2.68
Offer Price: £3.05
Upside: 14%
Expected Closing Date: TBD (potentially 8th of March)
Current Price: £0.67
Offer Price: £0.78
Upside: 16%
Expected Closing: March 2021
Current Price: C$0.30
Offer Price: C$0.33
Upside: 9%
Expected Closing: late March/early April 2021
Current Price: £0.73
Offer Price: £0.753+
Upside: 3%+
Expiration date: TBD
Current Price: $1.82
Offer Price: $2.00
Upside: 10%
Expected Closing: Q1 2021
Current Price: $4.17
Offer Price: $4.20 + $0.25 in CVR
Upside: 7%
Expected Closing: Q1 2021
Current Price: $2.07
Offer Price: TBD
Upside: TBD
Expiration date: TBD
Current Price: A$1.38
Offer Price: A$1.50
Upside: 9%
Expected Closing Date: TBD
Current Price: $18.49
Offer Price: $19.75
Upside: 7%
Expected Closing: Q4 2020
Current Price: $2.25
Offer Price: $2.50
Upside: 11%
Expected Closing: TBD
Current Price: $23.08
Offer Price: $22.50 + $4.00 in CVR
Upside: 15% (589% on CVR investment)
Expected Closing: Q1 2021
Current Price: HK$0.246
Offer Price: HK$0.266
Upside: 8%
Expected Closing: December 2020
Current Price: C$6.10
Offer Price: C$6.50-C$7.50
Upside: C$40 (tendering 99 shares at the lower limit)
Expiration Date: 20th of January
Current Price: C$1.40
Offer Price: C$1.40 – C$1.60
Upside: 14% (if priced at the upper limit)
Expiration Date: 11th of January 2021
Current Price: $3.16
Offer Price: $3.28
Upside: 4%
Expected Closing: Q1 2021
Current Price: $20.34
Offer Price: $18.00 – $20.25
Upside: TBD
Expiration Date: 18th of December
Current Price: HK$3.47
Offer Price: HK$3.92
Upside: 13%
Expected Closing: TBD
Current Price: $1.73
Liquidation Value: $2.20
Upside: 27%
Expiration Date: TBD
Current Discount: 23%
Average Discount: 16%
Upside: 7%
Expiration Date: TBD
Current Price: $34.24
Offer Price: $32.25 – $36.00
Upside: $174 (for 99 shares)
Expiration date: 21st December 2020
Current Discount: 36%
Average Discount: 28%
Upside: 8%
Expiration Date: TBD
Current Price: C$1.54
Offer Price: C$1.75
Upside: 14%
Expected Closing: Q3 2020
Current Price: $0.35
Offer Price: $0.39
Upside: 11%
Expected Closing: Late 2020
Current Price: C$1.94
Offer Price: C$2.42
Upside: C$47
Expiration Date: 18th of November
Split-Offs proved to be very lucrative
US-listed Chinese companies
Merger arbitrage has become a popular investment strategy used both by professional capital allocators and retail investors alike.
Current Price: $0.99
Offer Price: $1.25
Upside: 25%
Expiration Date: 16th of November 2020
Current Price: $3.48
Expected Payout: $9.00
Upside: 159%
Expiration Date: end of ’21
Current Price: $1.50
Target Price: $0.75 (ultimatelly a $0.00)
Upside: 50%
Expected date: Q3 2020
Current Price: $13.70
Offer Price: $15.22
Upside: 11%
Expected Closing: TBD
Current Price: $6.56
Offer Price: $7.35
Upside: 12%
Expected Closing: 2020
Current Price: $116
Offer Price: $135
Upside: 18%
Expected Closing: Late 2020 / Early 2021
Current Price: $8.21
Offer Price: $8.90
Upside: 8.5%
Expected Closing: Q4 2020
Current Price: $0.089
Liquidation Value: $0.125
Upside: 40%
Expiration date: early 2021
Current Price: $7.20
Offer Price: $8.75
Upside: 22%
Expected Closing: H2 2020
Current Price: $3.88
Offer Price: $4.58
Upside: 18%
Expected Closing: Q3 2020
Current Price: $24.45
Offer Price: $23.00-$25.50
Upside: $100 (for odd-lots)
Expiration Date: 9th of September
Current Price: $2.78
Offer Price: $3.00
Upside: 8%
Expected Closing: Q4 2020
Current Price: A$0.375
Offer Price: A$0.40
Upside: 6%
Expected Close: Late September 2020
Current Price: $19.1
Offer Price: $21.63
Upside: 13%
Expected Closing Date: Q3 2020
Current Price: $11.11
Offer Price: $16.50
Upside: 50%
Expected Closing Date: 2020
Current Price: $0.50
Offer Price: $0.605
Upside: 21%
Expiration Date: 24th of August 2020
Current Price: C$17.31
Offer Price: C$16.00-C$18.50
Upside: C$139 (if priced at the upper limit)
Expiration Date: 27th of August 2020
Current Price: $10.96
Offer Price: $12.00
Upside: $102 (for odd-lot accounts)
Expiration Date: 12th of August
Current Price: $10.97
Offer Price: $12.00
Upside: 9%
Expiration Date: 28th of August
Current Price: C$1.73
Offer Price: C$1.85
Upside: 7%
Expected Close: August 2020
Current Price: A$0.048
Offer Price: A$0.0505
Upside: 5%
Expected Closing: August 2020
Current Price: C$0.60
Offer Price: C$0.73
Upside: 22%
Expected Closing: Q3 2020
Current Price: $11.92
Offer Price: $12.72
Upside: 7%
Expected Closing: H2 2020
Current Price: $24.50
Offer Price: $33.00 (likely to be amended/terminated)
Upside: 35%
Expected Closing: TBD
Current Price: $48
Offer Price: $55
Upside: 15%
Expected Closing: TBD
Current Price: $0.0511
Offer Price: $0.0586
Upside: 15%
Expected Closing: beginning of June, 2020
Current price: $0.0173 (mid)
Distribution: $0.0184
Upside: 6%
Estimated distribution date: 17th of June, 2020
Current Price: $1.11
Offer Price: $1.27
Upside: 14%
Expected Closing: H2’20
Current price: $10.45
Consideration price: $16.00
Upside: 50%
Expiration date: TBD
Current Price: £3.85
Offer Price: £4.05
Upside: 5%
Expected Closing: 15th of June
Current Price: $9.50
Current Offer: $10.97
Upside: 15%
Expected Closing Date: Q2 / Early Q3
Current Price: £0.20
Offer Price: £0.22
Upside: 10%
Expected Closing: Q2 2020
Current Price: $18.48
Offer Price: $21.18
Upside: 15%
Estimated Closing Date: Early Q3
Current price: €12.62
Offer price: €16.00 in cash
Upside: 27%
Expected closing: Q3 ’20
Current Price: $0.32
Offer Price: $0.42
Upside: 30%
Expected Closing Date: Q2 2020
Current Price: $22.70
Offer Price: $25.00
Upside: 10%
Expected Closing: Q2
Current Price: $13.73
Offer Price: $20
Upside: 45%
Expected Closing Date: TBD
Current Price: $21.14
Offer Price: $27.20
Upside: 30%
Expected Closing Date: H2 2020
Current Price: C$1.99
Offer Price: C$2.39
Upside: 20%
Expected Closing Date: Late April’20
Current Price: $15.82
Offer Price: $22.45/share
Upside: 42%
Expected Closing: Q2 2020
Current price: C$0.63
Distribution: C$0.83
Upside: 32%
Expected date: TBD
Current Price: $1.76
Merger Consideration: $2.30
Upside: 31%
Closing: Q2 2020
Current Price: $19
Offer Price: $20
Upside: 5%
Expected Closing: Q2 2020
Current Price: ¥81000
Offer Price: ¥85000
Upside: 5%
Expected Closing Date: August 2020
Current Price: $1.80
Offer Price: $1.93
Upside: 7%
Closing date: mid 2020
Current Price: A$0.135
Offer price: A$0.20
Upside: 48%
Expiration date: TBD
Current Price: $10.46
Offer Price: $11.10
Upside: 6%
Expected closing date: 16th of March
Current Price: $3.10
Merger Consideration: $5.31
Upside: 71%
Estimated closing: Q2 2020
Current Price: C$31.70
Offer Price: C$34.00
Upside: 7%
Expected Closing: Q2 2020
Current Price: $7.43
Offer Price: $7.77
Upside: 4.5%
Expected Closing: March 31st, 2020
Current Price: $34.80
Merger Consideration: $34.91 – $36.81
Spread: 0%-6%
Expiration Date: expected Q1 ’20
Current Price: €26.66
Offer Price: €29.00
Upside: 9%
Expected Closing Date: Q2 2020
Current Price: $9.92
Merger Consideration: $10.33 – $10.70
Upside: 4% – 8%
Expiration Date: early 2020
Current Price: C$30.24
Offer Price: C$39 – C$46
Upside: C$360-C$950 (odd lots)
Expiration Date: 25th of March 2020
Current Price: $26.71
Offer Price: $29 – $34
Upside: 8.5% – 27%
Expiration Date: 12th of March 2020
Current Price: HK$8.21
Merger Consideration: HK$9.00
Upside: 10%
Expiration Date: 6th of March
Current price: C$6.46
Offer price: TBD
Upside: TBD
Expiration Date: by the 7th of Feb’20
Current Price: 5.2p
Offer Price: 5.5p
Upside: 6%
Closing Date: March 2020
Current Price: $1.14
Offer Price: $1.19
Upside: 4%
Expected Closing: Q1 2020
Current price: $6.13
Consideration: $6.30 in cash + $2 in CVR
Upside: 35% (with CVR)
Expected Closing Date: April’20
Current Price: C$1.74
Merger Consideration: C$1.81
Upside: 4%
Estimated Closing: January 2020
Current price: C$0.115 – C$0.12
Consideration price: C$0.123+
Upside: 2.5% – 7%+
Estimated closing date: Jan-Feb 2020
Current Price: $24.33
Offer: $26.52-$29.07
Upside: $217-$469 for odd-lots
Expiration date: 12th of February
Current Price: £1.07
Merger Consideration: £1.13
Upside: 5%
Expiration Date: Q1 ’20
Current Price: C$7.91
Tender Price: C$8.25
Upside: 4% (C$33 for odd-lots)
Expiration Date: 12 March 2020
Today I am introducing a new section on SSI: Quick Ideas.
Current Price: C$32.97
Offer Price: C$36.25
Upside: 10%
Expected Closing: by Q3 2020
Current Price: $1.72
Offer Price: $1.96
Upside: 14%
Expiration Date: expected early October 2020