InsideArbitrage Event Driven Monitor – November 28, 2024

Merger Arbitrage

1. MMLP: Martin Midstream Partners (MMLP) filed a definitive proxy statement. The special meeting of shareholders will be held on December 30, 2024.
2. MMLP: Nut Tree Capital Management and Caspian Capital; the unitholders of Martin Martin Midstream Partners (MMLP) have urged to vote “Against” the proposed merger with Martin Resource Management at the special meeting on December 30, 2024. The merger, under the current terms, would convert each MMLP common unit (excluding MRMC-held units) into $4.02 in cash. The investors believe this undervalues the company and is not in unitholders’ best interests. They are soliciting votes via the enclosed GOLD proxy card to block the merger. Unitholders can change their votes if already cast.
3. USAP: Universal Stainless & Alloy Products (USAP) filed the definitive proxy statement for its acquisition by Aperam. The special meeting of Universal Stainless stockholders to approve the merger is scheduled to be held on January 15, 2025.

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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