InsideArbitrage Event Driven Monitor – October 23, 2024

Merger Arbitrage

1. MMLP: Nut Tree Capital Management and Caspian Capital announced that they intend to oppose the proposed sale of Martin Midstream Partners (MMLP) to Martin Resource Management Corporation. Nut Tree and Caspian believe that the proposed sale price significantly undervalues the Company, and intend to solicit votes “AGAINST” the proposed transaction at the Company’s upcoming special meeting to be held to approve the related merger agreement.
2. SHCR: The acquisition of Sharecare (SHCR) by an affiliate of Altaris was completed on October 22, 2024. It took 123 days for the deal to be completed.
3. PETQ: Shareholders of PetIQ (PETQ) approved the company’s merger with Bansk Group at a special meeting of shareholders. The companies expect to close the merger on October 25, 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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