InsideArbitrage Event Driven Monitor – August 28, 2024
Merger Arbitrage
- CFB: The acquisition of CrossFirst Bankshares, Inc. (CFB) by First Busey Corporation (BUSE), for a closing value of $916.8 million. Under the terms of the agreement, CrossFirst shareholders will receive 0.6675 shares of Busey common stock for each share held of CrossFirst common stock, at about $18.28 per share.
- DFS: Reuters reported that Capital One (COF) and Discover Financial Services (DFS) are defending their proposed merger in a U.S. court, asking a Virginia judge to dismiss a consumer lawsuit that claimed the deal would reduce competition and drive up prices. The companies said the consumers’ allegations were “too contingent on unknown future events” to be allowed to move ahead while U.S. antitrust and regulatory bodies were still weighing the merger.
- TELL: Tellurian (TELL) filed their definitive proxy statement for its merger with Woodside Energy (WDS). The special meeting of Tellurian stockholders to approve the merger is scheduled to be held on October 3, 2024. The transaction is expected to complete in the fourth 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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