Technip / FMC Technologies

Technip / FMC Technologies: Mergers-of-Equals and Negative Arb Spreads



Publication Date: September 26, 2016


Contents (39 Pages):

1. Reasons for the Negative Spread: Analysts, Earnings, Counterbids 2. Considerations and Anomalies of Mergers-of-Equals 3. Technip Break Price Analysis 4. FMC Technologies Break Price Analysis 5. Risk Arbitrage Break Spread and Financial Valuation 6. Deal Structure and Timing Expectations 7. Risk Arbitrage Trading Thoughts Appendices A. Oilfield Services Industry Overview B. Overview of Technip, FMC Technologies and Forsys Subsea C. Strategic Rationale for the Merger


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Deal Timeline

Technip / FMC Technologies

End Date: January 16, 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

Deal Announced: May 19, 2016
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