InsideArbitrage Event Driven Monitor – March 21, 2025
Merger Arbitrage
- OPTN: The acquisition of OptiNose, Inc. (OPTN) by Paratek Pharmaceuticals, for a closing value of $330 million. Under the terms of the agreement, Paratek will acquire all of Optinose’s outstanding shares for $9 per share in cash, plus up to $5 per share in CVRs payable in the event that certain net revenue milestones are achieved by XHANCE. Pursuant to the CVRs, Paratek would pay $1 per share if XHANCE achieves $150 million in net sales in any calendar year prior to December 31, 2028, and $4 per share if XHANCE achieves $225 million in net sales in any calendar year prior to December 31, 2029. (Press Release)
- BECN: The acquisition of Beacon Roofing Supply, Inc. (BECN) by QXO, Inc. (QXO), for a closing value of $11 billion. Under the terms of the agreement, QXO will acquire Beacon for $124.35 per share in cash. (Press Release)
- BERY: Berry Global (BERY) filed the merger notification with the European Commission. The provisional deadline for the EU decision is April 28, 2025.
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