InsideArbitrage Event Driven Monitor – April 21, 2025

Merger Arbitrage

1. GB: Shift4 (FOUR) announced that it is extending the tender offer to acquire Global Blue (GB) to May 6, 2025. Equiniti Trust reported that as of April 17, 2025, about 231.57 million shares have been validly tendered, representing about 96.42% of the issued and outstanding shares.
2. VCSA: Vacasa (VCSA) announced that the Special Committee of its Board determined that the revised unsolicited acquisition proposal from Davidson Kempner does not constitute, and is not reasonably likely to result in, a “Superior Proposal”.
3. CMRX: Chimerix (CMRX) announced that the tender offer expired on April 17, 2025. The Depository said that 84.85 million shares, representing about 90.45% of the issued and outstanding shares, had been validly tendered. Jazz (JAZZ) expects to complete the merger 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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