InsideArbitrage Event Driven Monitor – July 18, 2023

  • July 18, 2023
Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage PLM: PolyMet Mining Corp. (PLM) to be acquired by Glencore AG for $499.71 million or $2.11 per share in cash. PRDS: Pardes Biosciences, Inc. to be acquired by MediPacific. Under the terms of the agreement, MediPacific will acquire Pardes for a price per share of not less than $2.02 in cash and an additional cash amount of not more than $0.17 per share, with the final price per share being based on the amount of the company’s net cash at closing. The deal also includes a non-tradeable contingent value right (the CVR) associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. MLVF: First Bank (FRBA) completed the acquisition of Malvern Bancorp (MLVF) TESS: Lee Equity Partners and Twin Point Capital completed the acquisition of TESSCO Technologies Incorporated (TESS) ATVI: According to Bloomberg, Britain’s Competition Appeal Tribunal “conditionally” paused a fight against a proposed ban on the Microsoft Corporation (MSFT) Activision (ATVI) deal handed down earlier this year by the Competition and Markets Authority (CMA), the UK’s competition regulator. Bloomberg also reported that the companies don’t plan to walk away from the deal and...

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