InsideArbitrage Event Driven Monitor – September 17, 2024

Merger Arbitrage

1. SBT: The dissolution of Sterling Bank and Trust (SBT), through a special conditions transaction that involves the acquisition of all its outstanding shares for a fixed cash consideration of $261 million or $4.91 per share by EverBank Financial Corp.
2. INFN: Infinera (INFN) announced that the applicable waiting period under the HSR Act expired on September 13, 2024. Infinera and Nokia (NOK) continue to expect the Merger to close in the first half of 2025.
3. EVRI: Everi (EVRI) filed the preliminary proxy statement for its merger with Apollo Funds (APO). The companies expect the merger to be completed by the end of the third 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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