The material adverse change clause lays out the circumstances under which Pfizer can back out of its deal with Hospira.
Pfizer manufactures some of the largest, most recognized drugs on the market, such as Lipitor, Viagara, Celebrex, Lyrica, and many others.
The Hospira portfolio includes generic acute-care and oncology injectables, biosimilars, and integrated infusion therapy and medication management products.
One of the major drivers for the Hospira–Pfizer transaction is the expected growth of the sterile injectables and biosimilar markets.
The Hospira–Pfizer deal is a cash merger, meaning there’s a shareholder vote and Hospira is being taken out for cash.
In the Regency Energy Partners (RGP) and Energy Transfer Partners (ETP) transaction, you’re getting about a 2% annualized yield. That’s about as low as you can get.
Typically, what the first step merger arbs will do to get a handle on the antitrust is to look at the 10-Ks of each company.
Look at the above graph and imagine you’re short the spread. So, the risk-to-reward ratio is $3.50 down to $0.20 up. It’s a risk-to-reward ratio of 17.5:1.
In regards to the deal between ETP and RGP, the MAC clause lays out the circumstances under which ETP can back out of the deal.
The MAC (material adverse change) clause is one of the first things that arbs look at. For the deal between Energy Transfer Partners (ETP) and Regency Energy Partners (RGP), the…
Regency Energy Partners works in some of the biggest natural gas-producing regions in the US, including Eagle Ford, Marcellus, Haynesville, and Utica.
The RGP and ETP merger would have some synergies, although the companies did not specify how many there would be.
This article covers what you should know about the RGP and ETP merger.
In merger arbitrage, the acquiring company generally buys the acquired company’s stocks and short sells them.
Now that ECB’s QE program has finally arrived, will it work? There are a few reasons why ECB’s QE bazooka may not fire.
ECB’s QE program will involve monthly purchases of 60 billion euro worth of securities by the ECB and the national central banks (or NCBs) of the 19-member Eurozone.
European euphoria captured markets in Europe and took them by storm. The Stoxx Euro 600 Index surged 5.1%, marking its biggest weekly increase in almost three years.
MTW expects its two newly formed companies to be consistent in capital structure and credit rating with that of Manitowoc.
In year 2014, Manitowoc faced challenges in demand for its products due to “macroeconomic headwinds.”
According to Deutsche Bank, Manitowoc’s share could be worth between $23 and $28 if it separates its businesses.