InsideArbitrage Event Driven Monitor – April 11, 2024

Merger Arbitrage

1. X: On April 9, 2024, Nippon Steel filed with the European Commission for its acquisition of U.S. Steel (X). The European antitrust regulator has set the provisional deadline as May 17, 2024.
2. ALPN:  The acquisition of Alpine Immune Sciences, Inc. (ALPN) by Vertex Pharmaceuticals Inc. (VRTX) for $4.9 billion. As per the terms of the merger agreement, Vertex will acquire Alpine for $65 per share in cash.
3. ANSS: On April 10, 2024, Ansys (ANSS) filed a definitive proxy statement. The special meeting of its shareholders will be held on June 7, 2024. Their merger with Synopsys (SNPS) is expected to close expected to close in the first half of 2025.

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