InsideArbitrage Event Driven Monitor – November 25, 2024

Merger Arbitrage

1. ENLC: The acquisition of EnLink Midstream, LLC (ENLC) by ONEOK, Inc. (OKE), for a closing value of $13.50 billion. Under the terms of the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common stock. The deal values EnLink at about $16.53 per share. ONEOK will acquire all the outstanding publicly held common units of EnLink it does not already own for $4.3 billion in ONEOK common stock. (Press Release)
2. ARC: The acquisition of ARC Document Solutions, Inc. (ARC) by TechPrint was completed on November 22, 2024. It took 86 days for the deal to be completed.
3. MRO: The acquisition of Marathon Oil Corporation (MRO) by ConocoPhillips (COP) was completed on November 22, 2024. It took 177 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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