InsideArbitrage Event Driven Monitor – September 27, 2024

Merger Arbitrage

1. SWN: Chesapeake Energy (CHK) and Southwestern Energy (SWN) announced the waiting period under the HSR Act has expired. The companies expect the merger to close in the first week of October.
2. AGR: Shareholders of Avangrid (AGR) approved the company’s merger with Iberdrola at a special meeting of shareholders. The merger is now subject to the satisfaction and approval of the New York Public Service Commission and once obtained, the transaction is expected to close during the fourth quarter of 2024.
3. HES: Bloomberg reported that Chevron (CVX) agreed that Hess (HES) Chief Executive Officer John Hess won’t join the company’s board as part of an agreement with the US FTC allowing the companies’ merger to proceed.

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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