InsideArbitrage Event Driven Monitor – March 14, 2025
Merger Arbitrage
- RDUS: The acquisition of Radius Recycling, Inc. (RDUS) by Toyota Tsusho America, Inc., for a closing value of $1.34 billion. Under the terms of the agreement, Toyota Tsusho America, a U.S. subsidiary of Toyota Tsusho Corporation, will acquire all shares of Radius for $30.00 per share in cash. (Press Release)
- SLRN: Acelyrin (SLRN) announced that, in response to Tang Capital Partners’ continued rapid accumulation of 8.8% of Acelyrin’s outstanding common stock, its Board has approved the adoption of a limited-duration stockholder rights plan. Under the Rights Plan, the Company is issuing one right for each share of common stock as of the close of business on March 24, 2025. The rights will initially trade with Acelyrin’s common stock and will become exercisable only if any person acquires 10% or more of the Company’s outstanding common stock (20% in the case of a person who reports their beneficial ownership on Schedule 13G).
- ALE: ALLETE (ALE) announced that the Public Service Commission of Wisconsin (PSCW) approved the company’s proposed transaction with the Canada Pension Plan Investment Board and Global Infrastructure Partners. ALLETE expects to complete the transaction in mid-2025.
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