InsideArbitrage Event Driven Monitor – March 19, 2025

Merger Arbitrage

1. FNA: Paragon 28 (FNA) filed a definitive proxy statement. The special meeting of shareholders will be held on April 17, 2025.
2. IPG: Shareholders of Interpublic Group of Companies (IPG) approved the company’s merger with Omnicom (OMC) at a special meeting of shareholders. The companies expect to complete the deal in the second half of 2025.
3. EDR: In a 13D filing, Silver Lake announced that several individuals and trusts, including Dana White, the DAW Family Trust, and others, signed agreements with Wildcat EGH and Wildcat OpCo on March 14, 2025. These agreements, known as the “March 14th Rollover Agreements,” state that certain shares and equity interests owned by these holders will remain in place and will not be cashed out as part of the merger. In total, this includes 6.14 million shares and 6.87 million units. Instead of receiving cash for these holdings, the Rollover Holders will keep their stakes in the newly merged company through the acquisition of Endeavor Group (EDR).

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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