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InsideArbitrage Event Driven Monitor – April 23, 2024

  • April 23, 2024
Merger Arbitrage ACI: On April 22, 2024, Kroger (KR) and Albertsons (ACI) announced that they have amended their definitive agreement with C&S Wholesale Grocers for the sale of assets in connection with their proposed merger. The amended agreement builds on the initial divestiture package and increases the total store count by 166 to include 579 stores that will be sold to C&S. Under the amended agreement, Kroger will also sell the Haggen banner to C&S. MTTR:  The acquisition of Matterport Inc. (MTTR) by CoStar Group, Inc. (CSGP) for $1.6 billion. As per the merger terms and conditions, CoStar Group will acquire all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share where Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar Group common stock for each share of Matterport common stock. CPRI: On April 22, 2024, the Federal Trade Commission sued to block Tapestry’s (TPR) $8.5 billion acquisition of Capri Holdings (CPRI). ALPN: On April 22, 2024, Vertex Pharmaceuticals Inc. (VRTX) commenced its tender offer to purchase Alpine Immune Sciences, Inc. (ALPN). The tender offer and withdrawal rights expires on May 17, 2024, unless extended or terminated. You can check out new deals, all deal updates, and spreads on active deals in our...

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