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InsideArbitrage Event Driven Monitor – October 9, 2024

  • October 9, 2024

Merger Arbitrage

  1. ALTM: The acquisition of Arcadium Lithium plc (ALTM) by Rio Tinto Group (RIO), for a closing value of $6.7 billion. Under the terms of the agreement, Rio Tinto will acquire Arcadium in an all-cash transaction for $5.85 per share.
  2. FYBR: Bloomberg reported that Verizon (VZ) has lined up $10 billion of short-term bank funding to help fund its purchase of Frontier Communications (FYBR). Morgan Stanley (MS) is leading a group of banks on the committed financing known as a bridge loan.
  3. TELL: The acquisition of Tellurian (TELL) by Woodside Energy (WDS) was completed on October 9, 2024. It took 80 days for the deal to be completed.

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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