InsideArbitrage Event Driven Monitor – January 9, 2025
Editor’s Note: The market and EDGAR will be closed on Thursday, January 9th. We will not be publishing the Daily Event Driven Monitor on Friday and will instead resume publication on Monday.
Merger Arbitrage
- ACCD: The acquisition of Accolade, Inc. (ACCD) by Transcarent, Inc., for a closing value of $621 million. Under the terms of the agreement, Transcarent will acquire Accolade for $7.03 per share in cash. (Press Release)
- X: In an interview on CNBC’s “Mad Money”, Cleveland-Cliffs (CLF) CEO Lourenco Goncalves said, “I’m not so sure if the best outcome is the combination of Cliffs and US Steel (X). Maybe the best outcome is Cliffs stay standalone and US Steel stays standalone and you continue to compete.”
- PSTX: The acquisition of Poseida Therapeutics (PSTX) by Roche Holdings was completed on January 8, 2025. It took 43 days for the deal to be completed.
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