Saturday, July 14, 2018 7 comments ++[ CLICK TO COMMENT ]++

Sold: Monsanto (merger completed)

Have been busy, and probably not efficient with my free time, so haven't blogged much... Need to get into a rythm and dedicate more time to investing. I think I'm going to give myself to post once a week and maybe just do a roundup of things I did that week, articles I read,etc.

Anyway, the Monsanto buyout by Bayer successfully closed a month ago and I just got around to reviewing it. As with most mergers, it took a bit longer than initially forecast--this is why if you are into risk arbitrage, you should always factor in a longer closeout process which lowers your annualized return. As I remarked a while ago, m&a is getting riskier with potential USA trade war with China, and likely followed by escalating trade war with Europe, so deal breaks are likely to become more common. Already several Chinese and high technology deals ran into issues.

Overall return wasn't that spectacular but I was satisfied with it. Dividends added about 1.8% which is always a positive with delayed deals (not all deals pay dividends when deal agreed).


Price Sold: $128
Total Return: 11.5% (annualized (estimate): 11.8%)
Total Return (C$): 12.34% (annualized (estimate): 12.5%)

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7 Response to Sold: Monsanto (merger completed)

July 27, 2018 at 4:54 PM

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October 21, 2018 at 12:49 PM

This kind of merger was really successful due to the advantages of the both sides. The transaction did not affect the decline in income of the future.

October 31, 2018 at 5:19 AM

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December 11, 2018 at 4:36 PM

I can say that you have sold the Monsanto for a very high price. But it is good that you have found your buyer. I wish you more profitable deals.

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