InsideArbitrage Event Driven Monitor – February 22, 2024

  • February 22, 2024
Merger Arbitrage ERF: The combination of Enerplus Corporation (ERF) and Chord Energy Corporation (CHRD) in an approximately $11 billion cash plus stock deal. Under the terms of the transaction, each common share of Enerplus will be exchanged for 0.10125 shares of Chord common stock and $1.84 per share in cash, representing 90% stock and 10% cash consideration. Upon completion of the transaction, Chord shareholders will own approximately 67% of the combined company and Enerplus shareholders will own approximately 33% on a fully diluted basis. CATC: Eastern (EBC) and Cambridge (CATC) no longer anticipate that all regulatory approvals will be received during the first quarter of 2024 and that the merger will be completed in early April 2024. GTH: Shareholders of Genetron Holdings (GTH) approved the company’s merger with New Genetron Holding Limited and Genetron New Co Limited at a special meeting of shareholders. OLK: The Swedish Inspectorate of Strategic Products advised Thermo Fisher Scientific (TMO) that it is conducting a second phase review of the transaction with Olink Holding AB (OLK) under the newly enacted FDI Act. CSTR: The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency approved the acquisition of CapStar Financial Holdings (CSTR) by Old National Bancorp (ONB). The Merger is currently expected...

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