InsideArbitrage Event Driven Monitor – September 26, 2024

Merger Arbitrage

1. MKFG: The acquisition of Markforged Holding Corporation (MKFG) by Nano Dimension (NNDM) for $115 million in an all-cash deal. As per the terms of the agreement, Nano Dimension will acquire all of the outstanding shares of Markforged for $5.00 per share in cash.
2. X: A three-member arbitration panel held a hearing last month after the United Steelworkers filed grievances against US Steel (X) claiming violations of its basic labor agreement in its proposed sale to Nippon Steel. The arbitration panel ruled in United Steel’s favor.
3. CPTN: Cepton, Inc. (CPTN) filed a preliminary proxy statement for their acquisition by Koito Manufacturing Co. Ltd. The final CFIUS notice was submitted on September 13, 2024. The deal is expected to close 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.

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