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dealReporter Risk Arbritrage Weekly Overview 11 November 2010 – 18 November 2010

Deal Reporter
19/11/2010

  • On Wednesday French market regulator AMF asked Safran to reveal its intentions regarding Zodiac Aerospace by Friday 19 November at the latest. This was announced in a French language press release, following recent press speculation on the subject.
     
  • On Wednesday Greencore and Northern Foods announced their proposed merger, which would create a combined group called Essenta Foods. The merger is recommended by the two sets of directors, and support has been received from shareholders holding 30.29% of Greencore’s and 11.81% of Northern Food’s share capital. The merger is expected to complete during the second quarter of 2011.
     
  • After recent press attention Sportingbet Plc confirmed on Monday it is in discussion with a number of different parties over a a variety of potential opportunities. On Tuesday Unibet Group Plc announced it had withdrawn from merger discussions with Sportingbet, after further press speculation which specifically referred to talks held between the two companies.
     
  • On Monday ProStraken noted the purchase of 12.6% stake in the company by Norgine BV. The Board also reported there have been other expressions of interest in the company and its assets, which it is beginning to evaluate, and an offer for the company or material disposals may or may not result.
     
  • Last Friday OEP Technologie B.V. Announced the results for its public takeover offer for SMARTRAC N.V., after the period for acceptance of the offer ended on 8 November 2010. At this point, the offer has been accepted for 9,942,471 SMARTRAC shares, approximately 60.87% of the total issued share capital. The additional acceptance period commenced on Saturday, the day after this announcement, and will end on 26 November 2010.
     
  • Marfin Popular Bank announced last Thursday a proposed EUR 488.6m share capital increase had been unanimously approved by its Board of Directors the day before. This would be achieved by a rights issue of new shares to existing shareholders at a ratio of 1 new share for every 2 shares already held, at a price of EUR 1.00 per share. The Board of Directors also unanimously approved the issue of convertible bond securities with a waiver of the pre-emptive rights of the shareholders. The necessary resolutions for the implementation of the above measures are on the agenda of the Shareholders’ General Meeting on 18 November 2010.
     
  • Last Thursday Banco Sabadell announced it had closed its offer for Banco Guipuzcoano.

application/pdf iconPress Release 18 November 2010.pdf
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