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InsideArbitrage Event Driven Monitor – October 22, 2024

  • October 22, 2024

Merger Arbitrage

  1. SCWX: The acquisition of SecureWorks Corp. (SCWX) by Thoma Bravo-backed Sophos for $859 million. Under the terms of the agreement, Secureworks shareholders; including Dell Technologies (DELL), will receive $8.50 per share in cash.
  2. SASR: The acquisition of Sandy Spring Bancorp, Inc. (SASR) by Atlantic Union Bankshares Corporation (AUB), for a closing value of $1.6 billion. Under the terms of the agreement, each outstanding share of Sandy Spring common stock will be converted into the right to receive 0.900 shares of Atlantic Union common stock. This values the transaction at about $34.93 per Sandy Spring common share.
  3. CTLT: Catalent (CTLT) in an open letter to customers said that Alessandro Maselli will continue to lead Catalent as President and CEO following the merger with Novo Nordisk (NVO). The deal is expected to close towards the end of 2024.

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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