InsideArbitrage Event Driven Monitor – October 9, 2023

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Merger Arbitrage

1. MRTX: Mirati Therapeutics to be acquired by Bristol-Myers Squibb Company (BMY) for $3.7 billion. Under the terms of the agreement, Bristol Myers Squibb will acquire Mirati for $58.00 per share in cash. Mirati stockholders will also receive one non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially worth $12.00 per share in cash, representing an additional $1.0 billion of value opportunity.
2. HZNP: The acquisition of Horizon Therapeutics Public Limited Company (HZNP) by Amgen (AMGN) was completed on October 6, 2023. It took 298 days for this deal to be completed.
3. ATVI: Microsoft (MSFT) is aiming to close its $69 billion deal for “Call of Duty” publisher Activision Blizzard (ATVI) on October 13 if it gets approval from Britain’s antitrust regulator, the Verge reported on Friday, citing a source.

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