InsideArbitrage Event Driven Monitor – December 20, 2024

Merger Arbitrage

1. DFS: Capital One (COF) announced it received approval from the Office of the Delaware State Bank Commissioner on December 18, 2024, to complete its acquisition of Discover Financial (DFS). Capital One anticipates that the transaction will close in early 2025, subject to the approval by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency.
2. RVNC: Teoxane said in a 13D filing that it believes that the acquisition of Revance (RVNC) by Crown Laboratories for $3.10 per share undervalues the company and that the consummation of the merger is not in the best interests of its stockholders.
3. VBFC: Shareholders of Village Bank and Trust Financial Corp. (VBFC) announced that they have voted to approve their acquisition by TowneBank (TOWN) at the special meeting.

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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