InsideArbitrage Event Driven Monitor – May 20, 2024

Merger Arbitrage

1. AGR: The acquisition of Avangrid (AGR) by Iberdrola, S.A., for a closing value of $2.551 billion. Under the terms of the agreement, Iberdrola will acquire the remaining 18.4% of the issued and outstanding shares of common stock of Avangrid that it does not currently own for $35.75 per share in an all-cash transaction.
2. HRT: HireRight Holdings Corporation (HRT) filed a definitive proxy statement. The special meeting of shareholders will be held on June 21, 2024.
3. TSRI: The acquisition of TSR, Inc. (TSRI) by Vienna Parent Corporation for $29 million. As per the terms of the agreement, Vienna Sub will commence a tender offer to acquire all outstanding shares of TSR (TSRI) common stock for a purchase price of $13.40 per share in cash.

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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