InsideArbitrage Event Driven Monitor – January 8, 2025

Merger Arbitrage

1. PYCR: The acquisition of Paycor HCM, Inc. (PYCR) by Paychex, Inc. (PAYX) for $4.1 billion in an all-cash transaction. As per the terms of the agreement, Paychex will acquire all the outstanding shares of Paycor at $22.50 per share in cash. (Press Release)
2. SSTK: The acquisition of Shutterstock, Inc. (SSTK) by Getty Images Holdings, Inc. (GETY), for a closing value of $3.7 billion. Under the terms of the agreement, Shutterstock shareholders can choose one of three options at closing: $28.85 in cash per share, 13.67 shares of Getty Images stock per share, or a combination of 9.17 Getty Images shares and $9.50 in cash per Shutterstock share. (Press Release)
3. SUM: Summit Materials (SUM) announced the expiration of the waiting period under the HSR Act for it’s acquisition by Quikrete Holdings, Inc. The transaction is now expected to close within the first quarter of 2025.

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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