Pharmacyclics (PCYC), DIRECTV (DTV), Actavis (ACT): Farallon Capital Betting On Merger Arb Plays

As of the end of the first quarter of 2015, Farallon Capital had increased its stake in TRW Automotive Holdings Corp. (NYSE:TRW) to 2.88 million shares valued at $301.44 million, an increase of 1.11 million shares. TRW Automotive Holdings Corp. (NYSE:TRW) was a $12.24 billion automotive systems provider that was acquired by ZF Friedrichshafen AG, with the purchase being completed on May 15. Each common stock share was converted into $105.60 in cash at that time. David Costen Haley’s HBK Investments initiated a new position consisting 5.65 million shares of TRW Automotive Holdings Corp. (NYSE:TRW) valued at $592.90 million during the first quarter of 2015.

Farallon Capital’s stake in Actavis plc (NYSE:ACT) is its fourth-largest, having a value of $293.24 million and containing 985,284 shares. Actavis plc (NYSE:ACT) is a $116.17 billion drugs producer which completed the acquisition of Allergan on March 17 for $70.5 billion. The move was just the latest for Actavis, as the company also acquired Forest Labs for $28 billion in 2014. John Paulson’s Paulson & Co is another prominent investor of Actavis, buying 4.08 million shares of the company and increasing its position to 5.64 million shares valued at $1.68 billion as of the end of first quarter.

Disclosure: None