SDI - Merger Arbitrage Mondays - The Bidding War For Tetraphase Pharmaceuticals Comes To An End
Merger activity ground to a halt last week with no new deals announced, three deals closing and one deal called off.
This is the third week in the month of May with no new deals announced. There were however, two potential deals announced last week. The COVID-19 pandemic caused another deal to bite the dust last week. Texas Capital Bancshares (TCBI) and Independent Bank Group (IBTX) mutually agreed to terminate their merger agreement.
The bidding war for Tetraphase Pharmaceuticals (TTPH) finally came to an end last week after the company entered into a second amendment