InsideArbitrage Event Driven Monitor – August 29, 2024

Merger Arbitrage

1. ARC: The acquisition of ARC Document Solutions, Inc. (ARC) by TechPrint Holdings, LLC, an affiliate of Chairman and CEO Kumarakulasingam Suriyakumar and other key executives for $202.26 million in cash. As per the terms of the agreement, each outstanding share of ARC’s  common stock will be converted into the right to receive $3.40 in cash.
2. DO: Shareholders of Diamond Offshore Drilling (DO) approved the company’s merger with Noble Corporation (NE) at a special meeting of shareholders.
3. BALY: Bally’s Corporation (BALY) filed a preliminary proxy statement for its acquisition by Standard General. Both the parties filed a notification and report forms with the FTC and DOJ on August 15, 2024. The waiting period under the HSR Act will expire on September 16, 2024, unless otherwise extended. The deal is expected to complete in the first quarter of 2025.

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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