InsideArbitrage Event Driven Monitor – May 30, 2024

Merger Arbitrage

1. MRO: The acquisition of Marathon Oil Corporation (MRO) by ConocoPhillips (COP), for a closing value of $22.5 billion. Under the terms of the agreement, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock, at a price of $30.33 per share.
2. SRDX:  The acquisition of Surmodics, Inc. (SRDX) by GTCR for a closing value of $627 million. Under the terms of the agreement, affiliates of GTCR will acquire all the outstanding shares of Surmodics for $43.00 per share in cash.
3. AKLI: The acquisition of Akili, Inc. (AKLI) by Virtual Therapeutics Corporation for a closing value of -$17.35 million. Under the terms of the agreement, Akili shareholders will receive $0.4340 per share of common stock in cash.

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