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InsideArbitrage Event Driven Monitor – July 18, 2023

  • July 18, 2023

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Merger Arbitrage

  1. PLM: PolyMet Mining Corp. (PLM) to be acquired by Glencore AG for $499.71 million or $2.11 per share in cash.
  2. 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.
  3. MLVF: First Bank (FRBA) completed the acquisition of Malvern Bancorp (MLVF)

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