InsideArbitrage Event Driven Monitor – September 6, 2024

Merger Arbitrage

1. FYBR: The acquisition of Frontier Communications Parent, Inc. (FYBR) by Verizon Communications Inc. (VZ), for a closing value of $20 billion. Under the terms of the agreement, Verizon will acquire Frontier for $38.50 per share in cash.
2. FLIC: The acquisition of The First of Long Island Corporation (FLIC) by ConnectOne Bancorp, Inc. (CNOB), for a closing value of $284 million. Under the terms of the agreement, First of Long Island shareholders will receive 0.5175 shares of ConnectOne common stock for each share of First of Long Island common stock. The transaction is valued at approximately $12.40 per First of Long Island share.
3. GATO: The acquisition of Gatos Silver, Inc. (GATO) by First Majestic Silver Corp. (AG) for $970 million in an all-stock deal. Under the terms of the agreement, Gatos shareholders will receive 2.550 common shares of First Majestic for each common share of Gatos held.

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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