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InsideArbitrage Event Driven Monitor – May 7, 2024

  • May 7, 2024

Merger Arbitrage

  1. ALE: The acquisition of ALLETE (ALE) by the Canada Pension Plan Investment Board and Global Infrastructure Partners, for a closing value of $6.2 billion. Under the terms of the agreement, CPP Investments and GIP, in a partnership, will acquire all of the outstanding common shares of ALLETE for $67.00 per share in cash.
  2. X: On May 6, 2024, The European Commission gives approval to the acquisition of U.S. Steel (X) by Nippon Steel, saying that the deal does not raise any competition concerns.
  3. HRT: On May 6, 2024, Holdings Corporation (HRT) and General Atlantic and Stone Point Capital filed their preliminary proxy statement. They received the HSR clearance and the waiting period under the HSR act expired on April 1, 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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