InsideArbitrage Event Driven Monitor – December 28, 2023

Merger Arbitrage

1. HOLI: Hollysys Automation Technologies (HOLI) announced its go-shop period has ended and that it didn’t receive any offer that it deemed superior to its $26.50 a share sale to Ascendent Capital. In the event the company changes its recommendation in respect of the Ascendent merger agreement and accepts a Superior Proposal in accordance with the merger agreement, a termination fee of US$33 million will become payable.
2. PNT: The acquisition of POINT Biopharma Global (PNT) by Eli Lilly and Company (LLY) was completed on December 27, 2023.  It took 85 days for this deal to complete.
3. ICVX: AstraZeneca (AZN) launches tender offer in the all cash $15 per share acquisition of Icosavax (ICVX) that includes a $5 per share CVR. The offer expires on January 26, 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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