InsideArbitrage Event Driven Monitor – March 24, 2025

Merger Arbitrage

1. AZEK: The acquisition of The AZEK Company Inc. (AZEK) by James Hardie Industries plc (JHX), for a closing value of $8.75 billion. Under the terms of the agreement, AZEK shareholders will receive $26.45 in cash and 1.0340 ordinary shares of James Hardie for each share of AZEK common stock they own. The stock and cash consideration represents a total per-share value of $56.88. (Press Release)
2. PLYA: Playa Hotels & Resorts (PLYA) filed a definitive proxy statement. The merger is expected to be completed on April 25, 2025.
3. GB: GT Holding 1 GmbH, a wholly owned subsidiary of Shift4 Payments (FOUR), commenced the tender offer to acquire Global Blue (GB), for $7.50 per common share. The offer will expire on April 17, 2025.

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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