InsideArbitrage Event Driven Monitor – September 05, 2024

Merger Arbitrage

1. X: Reuters reported that U.S. President Joe Biden is preparing to block Nippon Steel’s acquisition of U.S. Steel (X). The Biden administration told Nippon Steel in a letter on Saturday that its $14.9 billion acquisition of U.S. Steel would pose a national security risk by harming the American steel industry, adding to evidence the U.S. is poised to block it.
2. PWSC: PowerSchool (PWSC) filed a definitive information statement. The merger is expected to be completed in the second half of 2024.
3. ESGR: Enstar (ESGR) announced the expiration of the 35-day “go-shop” period under the merger agreement with Sixth Street.

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

Only plus or premium subscribers can access this post. Subscribe today.