Hot M&A Catch-Up: Twitter, Adobe, Silicon Motion
Investing.com | Author Daniel Shvartsman
Published Sep 19, 2022 05:20
- Adobe loses ground after agreeing to buy Figma
- Twitter holders approve Musk deal
- Silicon Motion has a tempting merger-arbitrage spread
In case you missed it, here are some of the hottest pieces of M&A news from this past week.
Adobe (NASDAQ:ADBE) announced it has inked a $20 million cash-and-stock deal to buy Figma , a design platform, triggering a 3% selloff in the shares. Analysts foresee regulatory risks to the closing of the deal.
Twitter (NYSE:TWTR) shareholders have approved Elon Musk's $44 billion takeover .
Store Capital (NYSE:STOR), a real estate investment trust headquartered in Arizona, is being taken private by GIC and funds managed by Oak Street in a deal valued at $14 billion.
The Justice Department is poised to block Sweden's Assa Abloy (OTC:ASAZY) from acquiring Spectrum Brands (NYSE:SPB), according to sources cited by Bloomberg.
And fresh produce giant Fresh Del Monte has picked up takeover interest from a second potential private equity buyer, according to a source cited by StreetInsider.
Finally, here are the top 10 merger arbitrage spreads for the week.
Silicon Motion (NASDAQ:SIMO) tops out the list with a 52.9% spread, up quite a bit from its 30% average spread since the deal was announced in May:
Source: Streetinsider / Investing.com
Rounding out the list are Twitter, Terminix (NYSE:TMX), VMware (NYSE:VMW), Activision Blizzard (NASDAQ:ATVI), Black Knight (NYSE:BKI), Tower Semiconductor (NASDAQ:TSEM), TEGNA (NYSE:TGNA), First Horizon (NYSE:FHN), and South Jersey Industries (NYSE:SJI).
Source: Streetinsider / Investing.com
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