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InsideArbitrage Event Driven Monitor – December 19, 2023

  • December 19, 2023
Merger Arbitrage X: The acquisition of U.S. Steel (X) by Nippon Steel for $14.9 billion or $55 per share in cash. AYX: The acquisition of Alteryx (AYX) by Clearlake Capital and Insight Partners for $4.4 billion or $48.25 per share in cash. PGTI: The acquisition of PGT Innovations (PGTI) by Masonite (DOOR) for $3 billion in a cash plus stock deal. Each shareholder will receive $33.50 in cash and 0.07353 shares of Masonite. PNT: Spread on the acquisition of Point Biopharma Global (PNT) by Eli Lilly (LLY) swings from -10.84% to 0.40% after investor hopes for a higher offer were dashed following a reading for its prostate cancer drug with its partner Lantheus Holdings (LNTH). CD: The acquisition of China Group Holdings (CD) by Bain closed 129 days after the deal was announced. WH: Wyndham Hotels (WH) asks shareholders to reject Choice Hotels’ (CHH) hostile bid for the company. CHH is offering $49.50 in cash and 0.324 shares of CHH stock per WH share. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Insider Purchases OLMA: Graham Walmsley, a Director of biotechnology company Olema Pharmaceuticals Inc. (OLMA), purchased 131,870 shares at...

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