InsideArbitrage Event Driven Monitor – December 27, 2024

Merger Arbitrage

1. X: Japan’s Nippon Steel extended the estimated closing date for its acquisition of U.S. Steel (X) to the first quarter of 2025 from the third or fourth quarter of 2024.
2. NAPA: The acquisition of The Duckhorn Portfolio (NAPA) by Butterfly Equity was completed on December 24, 2024. It took 78 days for the deal to be completed.
3. MMLP: Martin Midstream Partners (MMLP) announced the termination of the merger with Martin Resource Management Corporation. The Merger Agreement was terminated by the mutual written consent of MRMC and MMLP.

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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