InsideArbitrage Event Driven Monitor – March 26, 2025
Merger Arbitrage
- DM: The Delaware Court of Chancery ruled in favor of Desktop Metal (DM) in its merger dispute with Nano Dimension (NNDM), finding Nano in material breach of the agreement. The court ordered Nano to execute a national security agreement with CFIUS within 48 hours, to complete the merger by March 31, 2025, or extend the end date of the merger agreement.
- X: Bloomberg reported that the United Steelworkers said that Ancora wants to sell United States Steel’s (X) state-of-the-art mills to fund sweeping upgrades of union-run facilities that date back to the days of Andrew Carnegie. USW President Dave McCall and District 7 Director Mike Millsap wrote in a letter to members that it is scrutinizing Ancora’s plans. They reiterated their opposition to the US Steel-Nippon Steel combination.
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