InsideArbitrage Event Driven Monitor – August 22, 2024
Merger Arbitrage
- VGR: The acquisition of Vector Group Ltd. (VGR) by JT Group, for a closing value of $2.4 billion. Under the terms of the agreement, JT Group will offer to acquire all outstanding shares of Vector Group common stock for $15.00 per share in cash.
- ARCH: The merger of Arch Resources Inc. (ARCH) with Consol Energy Inc. (CEIX), to form Core Natural Resources, for a closing value of $5.2 billion. Under the terms of the agreement, Arch stockholders will receive a fixed exchange ratio of 1.326 shares of Consol common stock for each share of Arch common stock owned.
- SDIG: The acquisition of Stronghold Digital Mining, Inc. (SDIG) by Bitfarms Ltd. (BITF) for a closing value of $175 million including debt; in an all stock deal. Under the merger terms, Stronghold shareholders will receive 2.52 shares of Bitfarms for each share of Stronghold they own, representing consideration per share of $6.02.
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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