InsideArbitrage January 2024 Mid-Month Update – A 12% Yield Opportunity

Cerevel Therapeutics (CERE): $42.64

We are publishing this mid-month update a few days early because the HSR waiting period for AbbVie’s acquisition of Cerevel Therapeutics (CERE) expires on Tuesday, January 16th just before midnight. The companies filed their HSR notification with the FTC and the DOJ on December 15, 2023, which began the 30 day clock for antitrust review.

The current spread on the $45 per share all cash deal is 5.53% or 11.88% annualized if the deal closes by mid-2024. The spread was a touch juicier when we discussed the deal in our last Merger Arbitrage Mondays article where we wrote:

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