InsideArbitrage Event Driven Monitor – May 9, 2024
Merger Arbitrage CPRI: The FTC announced a scheduling conference for the lawsuit to block the Tapestry (TPR) merger with Capri (CPRI) will be held on May 16, 2024. SWN: Southwestern Energy Company (SWN) and Chesapeake Energy Corporation (CHK) announced that the special meeting of shareholders will be held on June 18, 2024. The companies expect to complete the merger in the second quarter of 2024. TARO: Taro Pharmaceutical Industries (TARO) announced that independent proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have both recommended that Taro shareholders vote “FOR” the merger with Sun Pharmaceutical Industries at the upcoming May 22, 2024 shareholder meeting. SLCA: According to Bloomberg, Apollo Global Management (APO) has lined up $1.1 billion of debt financing for its purchase of U.S. Silica Holdings (SLCA). Barclays and BNP Paribas are the leading banks on the deal. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deal in the Works PWSC: According to WSJ, Bain Capital is in talks to take education software provider PowerSchool (PWSC) private. RCM: According to a filing, R1 RCM (RCM) grants a waiver to holder TCP-ASC so that it can join with New...
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