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Hot M&A Catch-Up: Twitter, Adobe, Silicon Motion

AuthorDaniel Shvartsman
Published 09/19/2022, 05:20 AM
Updated 09/19/2022, 05:20 AM
  • 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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