InsideArbitrage Event Driven Monitor – November 27, 2024

Merger Arbitrage

1. PSTX: The acquisition of Poseida Therapeutics, Inc. (PSTX) by Roche Holdings, Inc. for $1.5 billion in a special conditions transaction. Under the terms of the agreement, Roche will commence a tender offer to acquire all of Poseida’s outstanding shares for a price of $9.00 per share in cash at closing, plus a non-tradeable CVR to receive up to an aggregate of $4.00 per share in cash, payable upon achievement of specified milestones. (Press Release)
2. X: Reuters reported that Japanese Prime Minister Shigeru Ishiba has sent a letter to President Joe Biden asking him to approve Nippon Steel’s acquisition of U.S. Steel (X), to avoid marring recent efforts to strengthen ties between the countries.
3. RVNC: Revance Therapeutics (RVNC) announced it has further extended the date to commence the tender offer to November 29, 2024, due to ongoing discussions with Crown Laboratories.

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