InsideArbitrage Event Driven Monitor – May 21, 2024

Merger Arbitrage

1. IBTX: The acquisition of Independent Bank Group, Inc (IBTX) by SouthState Corporation (SSB) for a closing value of approximately $2 billion. As per the terms of the agreement, Independent Bank shareholders will receive 0.60 shares of SouthState common stock for each outstanding share of IBTX common stock.
2. OSG: The acquisition of Overseas Shipholding Group (OSG) by Saltchuk Resources, for a closing value of $950 million. Under the terms of the agreement, Saltchuk will commence a tender offer to acquire all outstanding shares of Overseas Shipholding it does not already own for $8.50 per share in cash.
3. ADTH: AdTheorent (ADTH) filed a definitive proxy statement. The special meeting of shareholders will be held on June 18, 2024.

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