Monday, June 28, 2010

M&A Feast for Hedge and Private Equity Funds

Here's the ranking of the Top 30 pending M&A deals, ranked by deal size. It will be a hedge and private equity funds feast: not only are they often acquirers (Thomas H. Lee, Apollo, Icahn), but many of the target are among their portfolio companies: Talecris, for example, is owned by Cerberus.
Target Acquirer Deal Size (M) Announced Premium in % Payment Type Current Premium in % Expected Completion Date
XTO ENERGY INC EXXON MOBIL CORP 41366.82 25.94 Stk 0.05 06/28/10
QWEST COMMUNICATIONS INTL CENTURYLINK INC 22161.55 12.49 Stk 6.84 06/30/11
SMITH INTERNATIONAL INC SCHLUMBERGER LTD 12342.48 42.18 Stk 2.22 12/31/10
ALCON INC NOVARTIS AG-REG 10567.14 -5.99 Stk -9.31
ALLEGHENY ENERGY INC FIRSTENERGY CORP 9216.11 36.15 Stk 14.17 04/30/11
MILLIPORE CORP MERCK KGAA 6805.77 42.48 Cash 0.38 12/31/10
AIRGAS INC AIR PRODUCTS & CHEMICALS INC 6641.21 27.13 Cash -3.83 08/13/10
SYBASE INC SAP AG 5322.65 47.75 Cash 0.73 07/01/10
TALECRIS BIOTHERAPEUTICS GRIFOLS SA 3890.94 53.45 C&S 22.9 12/31/10
MARINER ENERGY INC APACHE CORP 3801.5 60.85 C&S 4.38 09/30/10
CONTINENTAL AIRLINES-CLASS B UAL CORP 3185.64 1.61 Stk -0.19 12/31/10
PSYCHIATRIC SOLUTIONS INC UNIVERSAL HEALTH SERVICES-B 3114.41 6.1 Cash 3.04 12/31/10
INTERACTIVE DATA CORP Multiple 2996.24 1.81 Cash 1.62 09/30/10
BUCKEYE GP HOLDINGS LP BUCKEYE PARTNERS LP 2720.89 30.42 Stk 6.96 12/31/10
EV3 INC COVIDIEN PLC 2489.97 19.71 Cash 0.67 07/31/10
MIRANT CORP RRI ENERGY INC 2273.7 -1.01 Stk 1.52 12/31/10
CASEY'S GENERAL STORES INC ALIMENTATION COUCHE-TARD -B 1862.09 16.34 Cash 1.15 07/09/10
CYBERSOURCE CORP VISA INC-CLASS A SHARES 1796.58 40.38 Cash 2.08 12/31/10
GERDAU AMERISTEEL CORP GERDAU SA-PREF 1607.07 47.5 Cash 0.58
ARENA RESOURCES INC SANDRIDGE ENERGY INC 1563.56 25.82 C&S 1.74 09/30/10
DYNCORP INTERNATIONAL INC-A Private (Cerberus) 1472.82 50.21 Cash 0.98 12/31/10
ECLIPSYS CORP ALLSCRIPTS-MISYS HEALTHCARE 1242.63 20.05 Stk 7.33 12/31/10
RCN CORP Private 1192.29 38.33 Cash 1.08 12/31/10
AMERICAN ITALIAN PASTA CO-A RALCORP HOLDINGS INC 1171.62 36.22 Cash 0.36 07/22/10
GLG PARTNERS INC MAN GROUP PLC 1130.59 42.09 Cash 3.69 09/30/10
INVENTIV HEALTH INC THOMAS H. LEE PARTNERS LP 1091.03 9.85 Cash 2.04 09/30/10
STANLEY INC CGI GROUP INC - CL A 1054.64 20.07 Cash 0.54 07/09/10
CKE RESTAURANTS INC APOLLO GLOBAL MANAGEMENT LLC 1009.5 5.91 Cash 0.32
LIONS GATE ENTERTAINMENT COR ICAHN ENTERPRISES LP 1001.42 32.6 Cash -0.92 06/30/10

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