InsideArbitrage Event Driven Monitor – June 25, 2024

Merger Arbitrage

1. ALIM: The acquisition of Alimera Sciences, Inc. (ALIM) by ANI Pharmaceuticals, Inc. (ANIP) for a closing value of $381 million. Under the terms of the merger agreement, ANI will acquire all of the outstanding shares of Alimera for $5.50 per share. Alimera investors will also be entitled to a CVR for up to $0.50 per share, based on achieving net revenue above specified thresholds in 2026 and 2027.
2. TARO: The acquisition of Taro Pharmaceutical Industries (TARO) by Sun Pharmaceutical Industries was completed on June 24, 2024. It took 159 days for the deal to be completed.
3. SBOW: Crescent Energy (CRGY) filed a Form S-4 to acquire SilverBow Resources (SBOW). The companies expect to close the merger by the end of the third quarter of 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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