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InsideArbitrage Event Driven Monitor – January 23, 2024

  • January 23, 2024

Merger Arbitrage

  1. NSThe acquisition of NuStar Energy (NS) by Sunoco (SUN) for a closing value of $7.3 billion. Under the terms of the agreement, NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common unit.
  2. SQNS: Japan’s Renesas Electronics extends tender offer for proposed acquisition of chip maker Sequans (SQNS) to February 5, 2024.
  3. SRC: Spirit Realty Capital (SRC) announced that its stockholders approved all of the proposals necessary for the closing of the previously announced merger with Realty Income (O). The deal is expected to be completed on January 23, 2024.

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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