InsideArbitrage Event Driven Monitor – December 23, 2024

Merger Arbitrage

1. SUM: Summit Materials (SUM) filed the preliminary proxy statement for its merger with Quikrete. The company expects the merger to be completed in the first half of 2025.
2. ANSS: UK’s CMA announced that it could approve the Synopsys (SNPS) Ansys (ANSS) merger if competition concerns are resolved. The proposed purchase of Ansys by Synopsys could reduce competition in the supply of certain semiconductor chip design and light simulation products in the UK.
3. BATL: Battalion Oil (BATL) terminated the merger with Fury Resources. The deal was not completed before the outside date of December 19, 2024, so the company chose to terminate the merger agreement.

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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