InsideArbitrage Event Driven Monitor – November 13, 2024

Merger Arbitrage

1. AE: The acquisition of Adams Resources & Energy, Inc. (AE) by Tres Energy LLC, for a closing value of $138.9 million. Under the terms of the agreement, Adams stockholders will receive $38.00 per share in cash. (Press Release)
2. RVNC: Revance Therapeutics, Inc. (RVNC) along with Crown Laboratories, Inc. have agreed to extend the deadline for the tender offer for Revance’s outstanding shares to November 19, 2024. This follows prior extensions, as ongoing discussions between Revance and Crown could lead to further delays, potential changes to the offer terms, or possible adjustments to the merger agreement, including the current offer price of $6.66 per share.
3. ANSS: The European Commission sets December 16, 2024, as the provisional deadline to decide on the acquisition of Ansys (ANSS) by Synopsys (SNPS).

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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