InsideArbitrage Event Driven Monitor – January 13, 2025
Merger Arbitrage
- ESSA: The acquisition of ESSA Bancorp, Inc. (ESSA) by CNB Financial Corporation (CCNE) for $214 million in an all-stock transaction. Under the terms of the agreement, ESSA shareholders will receive 0.8547 shares of CNB common stock for each outstanding share of ESSA common stock, which is valued at approximately $21.10 per share. (Press Release)
- AKYA: The acquisition of Akoya Biosciences, Inc. (AKYA) by Quanterix Corporation (QTRX), for a closing value of $286.34 million. Under the terms of the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each share of Akoya common stock they own, which is valued at approximately $3.73 per share. (Press Release)
- BEST: BEST (BEST) announced that on January 6, it received a notice from the New York Stock Exchange (NYSE) stating that it is not meeting the NYSE’s listing requirements because the company has not submitted its Form 6-K report, which includes financial results for the first half of 2024 (ending June 30), to the U.S. Securities and Exchange Commission (SEC) on time. The delay happened because BEST has been focused on its plan to go private.
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