InsideArbitrage Event Driven Monitor – September 11, 2024

Merger Arbitrage

1. FYBR: Private equity firm Cerberus sold more than 6 million shares of Frontier (FYBR) on Sept 5 and Sept 6, according to a 13D filing, following Verizon’s (VZ) acquisition announcement.
2. ALIM: Alimera Sciences (ALIM) announced that it has filed a lawsuit in the Delaware Court of Chancery to compel ANI Pharmaceuticals (ANIP) to fulfill its contractual obligation to close the merger, following Alimera shareholders’ approval of the transaction on September 4, 2024.
3. X: The Financial Times reported that Nippon Steel’s vice-chair Takahiro Mori will meet several deputy cabinet secretaries involved with the CFIUS in Washington on Wednesday in a last-ditch effort to salvage the Japanese group’s proposed acquisition of US Steel (X).

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.