InsideArbitrage Event Driven Monitor – April 18, 2025

Merger Arbitrage

1. ENFN: Clearwater Analytics (CWAN) and Enfusion (ENFN) announced the preliminary results of shareholder elections regarding the form of merger consideration in connection with Clearwater’s acquisition of Enfusion. Preliminary results show 45.5% of shareholders elected the mixed consideration, 6.1% chose stock consideration, 40.9% opted for cash consideration, and 7.6% did not make a valid election and will receive stock consideration by default. Shareholders of Enfusion approved the company’s merger with Clearwater Analytics at a special meeting of shareholders held on April 17, 2025.
2. DADA: Dada Nexus (DADA) filed the preliminary proxy statement for its merger with JD Sunflower Investment Limited. The company expects the merger to be completed within the third quarter of 2025.
3. FNA: Shareholders of Paragon 28 (FNA) approved the company’s merger with Zimmer Biomet (ZBH) at a special meeting of shareholders. The merger is expected to close on April 21, 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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