InsideArbitrage Event Driven Monitor – December 27, 2023

  • December 27, 2023
Merger Arbitrage GRCL: The acquisition of Gracell Biotechnologies Inc. (GRCL) by  AstraZeneca (AZN) for $1 billion or $10 per ADR in cash. The deal also includes a CVR worth $1.50 per ADR. RYZB: The acquisition of RayzeBio (RYZB) by Bristol Myers Squibb (BMY) for a closing value of $3.6 billion or $62.50 per share in cash. PNT: Eli Lilly (LLY) expects its acquisition of POINT Bio (PNT) to be completed on December 27, 2023. SIX: According to a proxy filing, on December 20, 2023, Six Flags (SIX) and Cedar Fair (FUN) withdrew and refiled their premerger notification and report under the HSR Act on December 21, 2023. AMTI: Applied Molecular Transport (AMTI) shareholders voted in favor of the company’s acquisition by Cyclo Therapeutics (CYTH). SLGC: SomaLogic (SLGC) issued a statement correcting the Madryn Asset Management press release regarding the pending merger with Standard BioTool (LAB). SomaLogic announced Madryn did not publish the response email from Adam Schecter, Chairman and CEO of LabCorp (LH), which makes clear there is no substance to Madryn’s claims and that since the announcement of its pending merger with Standard BioTools, SomaLogic has not received any indication of interest or proposal from LabCorp or any other party with respect...

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