WM - Merger Arbitrage Mondays - Tetraphase Pharmaceuticals Finds A New Home
Merger activity decreased last week with one new deal announced, two deals closing, and one deal called off.
After terminating deals with AcelRx Pharmaceuticals (ACRX) and Melinta Therapeutics (MLNT), Tetraphase Pharmaceuticals (TTPH) agreed to be acquired by La Jolla Pharmaceutical Company (LJPC) last week.
We had removed the Taubman Centers (TCO) deal from our list of active deals earlier this month after Simon Property Group (SPG) attempted to walk away from its acquisition of the company. Shareholders of Taubman Centers, however, approved and adopted the merger agreement last week, even though it seems very unlikely