InsideArbitrage Event Driven Monitor – August 9, 2024

Merger Arbitrage

1. EXAI: The acquisition of Exscientia Plc (EXAI) by Recursion Pharmaceuticals Inc. (RXRX), for a closing value of $193.06 million. Under the terms of the agreement, Exscientia shareholders will receive 0.7729 shares of Recursion Class A common stock for each Exscientia ordinary share they own, with fractional shares paid in cash.
2. GVP: The acquisition of GSE Systems, Inc. (GVP) by Pelican Energy Partners for $6.21 million in an all-cash deal. As per the terms of the agreement, Pelican will acquire all the outstanding shares of GSE Systems for an estimated total cash consideration of $4.10 per share.
3. ALE: The European Commission has decided not to oppose the ALLETE (ALE) acquisition by Canada Pension Plan Investment Board and Global Infrastructure Partners, and has declared it compatible with the internal market and the EEA Agreement.

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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