InsideArbitrage Event Driven Monitor – April 24, 2024
Merger Arbitrage
- HIBB: The acquisition of Hibbett (HIBB) by JD Sports Fashion for $1.1 billion in an all-cash deal. Under the terms of the agreement, JD Sports Fashion will acquire all outstanding shares of Hibbett for $87.50 per share in cash.
- FUSN: On April 23, 2024, Fusion Pharmaceuticals (FUSN) announced that the waiting period under the HSR Act expired with respect to its merger with AstraZeneca (AZN). The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the Arrangement Agreement, which remains subject to other customary closing conditions, including receipt of approval of Fusion’s shareholders.
- CPRI: On April 23, 2024, U.S. District Court Judge John Koeltl, nominated by President Bill Clinton in 1994, was assigned to preside over FTC’s lawsuit to block Tapestry’s (TPR) purchase of Capri (CPRI).
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