InsideArbitrage Event Driven Monitor – December 27, 2023

Merger Arbitrage

1. 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.
2. 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.
3. PNT: Eli Lilly (LLY) expects its acquisition of POINT Bio (PNT) to be completed on December 27, 2023.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

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