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InsideArbitrage Event Driven Monitor – January 30, 2024

  • January 30, 2024

Merger Arbitrage

  1. MGRCThe acquisition of McGrath RentCorp (MGRC) by WillScot Mobile Mini Holdings (WSC) for a closing value of $3.8 billion. McGrath shareholders will receive for each of their shares either $123.00 in cash or 2.8211 shares of WillScot Mobile Mini common stock.
  2. IRBT: Amazon (AMZN) and iRobot (IRBT) announced that they have entered into a mutual agreement to terminate their previously announced acquisition agreement. Amazon’s proposed acquisition of iRobot has no path to regulatory approval in the European Union, preventing Amazon and iRobot from moving forward together. iRobot’s CEO Colin Angle resigns.  Glen Weinstein, iRobot’s Chief Legal Officer, has been appointed interim CEO.
  3. SNCE: The acquisition of Science 37 Holdings (SNCE) by eMed for a negative closing value of -$33.40 million. Under the terms of the agreement, eMed, through its wholly-owned subsidiary, will commence a tender offer to acquire all outstanding shares of Science 37 common stock for $5.75 in cash per share.

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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