InsideArbitrage Event Driven Monitor – November 6, 2024

Merger Arbitrage

1. ARCH: Arch Resources (ARCH) announced that it received all necessary international approvals to complete the merger. It expects the merger with Consol Energy (CEIX) to close by the end of the first quarter of 2025.
2. DFS: Kelly Welsh joined Discover (DFS) as the incoming interim chief legal officer, general counsel, and head of corporate and public affairs. Welsh will assume the role from Hope Mehlman, who leaves Discover at the end of November for another opportunity.
3. SPR: Reuters reported that Spirit AeroSystems (SPR) warned that there was “substantial doubt” the company would be able to continue as a going concern. Spirit’s cash balance at the end of the third quarter of 2024 was $218 million.

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