The announcement sent Arrow's stock up 17.02%, to $44.21 Monday. That's just shy of the $45.50 per share that Teleflex has offered to pay for the Reading, Pa., maker of catheter-based products used in cardiac and critical care.
That pop was good news for investors in the
Excelsior Small Cap fund (UMLCX), which had 2.22% of its assets in Arrow at the end of May, according to fund tracker Morningstar. Other beneficiaries included
BNY Hamilton Small Cap Core Equity (BNCIX) which allocated 1.83% to Arrow at the end of March, and
American Century Life Sciences (ALSIX), with 1.67%.
Genesis fund saw a nice gain, as the holder of 6.29% of Arrow's stock at the end of March.
Funds holding Teleflex didn't get the same boost; the stock was virtually unchanged Monday, closing at $85.33, for a 0.03% gain.
Elsewhere on a merger-manic Monday,
, the world's largest offshore drilling contractor, said it had agreed to purchase its smaller competitor,
, creating a company with a combined enterprise value of $53 billion.
Transocean's stock price closed up 5.47% at $115.99, while GlobalSantaFe rose 3.59%, to $78.33.
Select Energy fund has the biggest allocation to either stock of any mutual fund tracked by Morningstar. As of the end of February, it held 5.83% of its total assets in Transocean and 4.74% in GlobalSantaFe.
Other funds with large portions of total assets committed to GlobalSantaFe include
Fidelity Select Natural Resources, with a 4.71% allocation as of Feb. 28,
New River Core Equity, with a 4.44% allocation as of as of the end of May, and
Fidelity Select Natural Gas, with a 4.02% allocation as of Feb. 28.
Transocean's biggest fans include
Rydex Energy Services (RYESX), with a 5.41% allocation at the end of June,
Jordan Opportunity (JORDX), with 5.39% at the end of March, and
Monteagle Value (MVRGX), with 5.18% as of the end of February.