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dealReporter Risk Arbitrage Weekly Overview 18 February 2011 - 24 February 2011

25/02/2011
  • In a press release on Thursday Snai revealed details of a comittment letter signed for a financing contract with a number with Unicredit, Deutsche Bank and Intesa-Imi. The refinancing operation will allow it access to lines of credit sufficient to refinance the group's existing debt, and is linked to the takeover of Snai by Global Games. The deadline in the takeover agreement for Snai to reach a debt refinancing agreement has been postponed until 7 March 2011.

dealReporter Risk Arbitrage Weekly Overview 11 February 2011 - 17 February 2011

18/02/2011
  • On Monday Achilles Group announced they had received 72.69% acceptances, and the offer would be extended and remain open for acceptance until the next closing date on 19 February 2011. Achilles then announced on Wednesday the FSA and Lloyd's had both given approval in respect of the acquisition. On Thursday the offer was declared unconditional as to acceptances, after the number of acceptances required to fulfil the acceptance condition was reduced from 95% to 80%, and Achilles had received acceptances by that date of appproximately 81.23% of the share capital of BRIT.

dealReporter Risk Arbitrage Weekly Overview 04 February 2011 - 10 February 2011

11/02/2011
  • Q-MED commented on Monday that there were no ongoing discussions with other potential bidders than Galderma Holding AB, a company wholly-owned by Galderma Pharma, and no interest from other potential buyers. On Tuesday Galderma announced it had received 53.88% acceptances at the expiry of the acceptance period, on 07 February 2011. On Thursday Galderma announced their decision to increase their cash offer to SEK 79 per share, and extend the offer period until 24 February 2011.

dealReporter Risk Arbitrage Weekly Overview 28 January 2011 - 03 February 2011

04/02/2011
  • On Thursday Assa Abloy announced 9 March 2011 as the expected date for approval from the European Commission regarding its offer for Cardo. The adjusted offer timetable estimates the announcement of the level of acceptances as 15 March 2011, and settlement of the offer on 18 March 2011.
  • On Wednesday Axel Springer announced the terms of its improved cash offer for Seloger. Seloger shareholders are now offered EUR 38.05 per share held, up from the original EUR 34.00 per share.

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Deal Reporter
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