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InsideArbitrage Event Driven Monitor – April 8, 2024

  • April 8, 2024
Merger Arbitrage SWAV:  The acquisition of Shockwave Medical, Inc. (SWAV) by Johnson & Johnson (JNJ) for a closing value of $13.1 billion. Under the terms of the agreement, Johnson & Johnson will acquire all outstanding shares of Shockwave for $335.00 per share in cash. SWN: On April 5, 2024, Southwestern Energy Company (SWN) and Chesapeake Energy Corporation (CHK) received a request for additional information and documentary material (the “Second Request”) from the FTC. The merger is now expected to close in the second half of 2024. EGLE: On April 5, 2024, Eagle (EGLE) announced that its shareholders approved their merger with Star Bulk (SBLK). The merger is expected to complete on April 9, 2024. TCN: On April 5, 2024, Tricon International (TCN) announced that the Ontario Superior Court of Justice has approved the company’s merger with Blackstone. NGM:  The acquisition of NGM Biopharmaceuticals (NGM) by The Column Group was completed on April 5, 2024. It took 39 days for this deal to be completed. CTLT: On April 6, 2024, Bloomberg reported that Ares Management and Blue Owl Capital are spearheading a consortium of private credit lenders to provide $4.8 billion in debt financing for the acquisition of pharmaceuticals manufacturer Catalent (CTLT). This financing is intended to support the $16.5 billion acquisition of Catalent by...

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