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InsideArbitrage Event Driven Monitor – February 7, 2024

  • February 7, 2024
Merger Arbitrage ZFOX: The acquisition of ZeroFox Holdings (ZFOX) by Haveli Investments for a closing value of $350 million or $1.14 per share in cash. BATL: Battalion Oil (BATL) discloses the second amendment to the agreement and plan of merger. The second funding of $15 million into escrow by Fury Resources was extended to February 15, 2024. The termination fee is reduced to $3.5 million from $8 million. MOR: According to Stat News, Novartis may eventually look to exit the EUR2.7 billion deal with MorphoSys if regulators fail to approve an application for the drug pelabresib. Mixed results from pelabresib’s Phase 3 study last year raised major concerns inside Novartis (NVS) that the drug isn’t approvable. A MorphoSys (MOR) and Novartis (NVS) spokesperson told Stat News that its report was incorrect and that the deal is still expected to close in the first half of the year. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deals in the Works KSS: According to Reuters, Vision One Management Partners, a fund co-founded by former Canadian Prime Minister Stephen Harper and former Carl Icahn protege Courtney Mather, has built a stake...

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