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InsideArbitrage Event Driven Monitor – April 16, 2024

  • April 16, 2024
Merger Arbitrage SNPO:  The acquisition of Snap One Holdings Corp (SNPO) by Resideo Technologies (REZI) for $1.4 billion. Under the terms of the agreement, Resideo will acquire Snap One for $10.75 per share in cash. MCBC: The acquisition of Macatawa Bank Corporation (MCBC) by Wintrust Financial Corporation (WTFC) for a closing value of $510.3 million or $14.85 per share in an all-stock deal. As per the agreement, the per share consideration is subject to change based on a collar, where the share fraction of Wintrust common stock will increase or decrease depending on a lower-bound price of $89.03 and an upper-bound price of $113.03. AGTI: On April 15, 2024, Agiliti Inc (AGTI) filed a definitive proxy statement. The company will not call a stockholders’ meeting as no further action by the stockholders is required to complete the merger. The merger is expected to be completed in the first half of 2024. CTLT: On April 15, 2024, Catalent (CTLT) filed a definitive proxy statement. The special meeting of shareholders is scheduled to be held on May 29, 2024. Their merger with Novo Nordisk (NVO) is expected to close towards the end of 2024. TARO: On April 15, 2024, Taro Pharmaceutical Industries (TARO) announced that their special meeting of shareholders for the merger...

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