InsideArbitrage Event Driven Monitor – February 26, 2025
Merger Arbitrage
- X: Nippon Steel plans to use its current merger agreement to acquire U.S. Steel (X) as a starting point for talks with the U.S. government, President Tadashi Imai said, as it aims to revive the deal. Imai said that Japan’s top steelmaker’s current merger agreement with U.S. Steel will serve as a starting point for discussions with the U.S. government including the Department of Commerce.
- HCP: UK CMA announced that it cleared the acquisition of HashiCorp (HCP) by IBM (IBM).
- CHX: SLB (SLB) announced that the waiting period under the HSR Act for its acquisition of ChampionX (CHX) expired on February 24, 2025, and SLB is legally permitted to close the ChampionX transaction in the United States. In Norway, the Norwegian Competition Authority has notified the parties that it intends to continue its assessment of the ChampionX transaction via a Phase II review.
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