InsideArbitrage Event Driven Monitor – May 10, 2024

Merger Arbitrage

1. AGS: The acquisition of PlayAGS, Inc (AGS) by affiliates of Brightstar Capital Partners for $1.1 billion. As per the terms of the merger agreement, Brightstar will acquire PlayAGS at a price of $12.50 per share in cash.
2. X: Nippon Steel announced that it plans to raise as much as 250 billion yen ($1.6 billion) via bond sales and loans, pushing ahead with debt fundraising, to strengthen the financial foundation in anticipation of the expected acquisition of U.S. Steel (X).
3. FREE: Whole Earth Brands (FREE) filed the preliminary proxy statement for its merger with Sababa Holdings. The companies expect to complete the merger in the second quarter of 2024.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

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