InsideArbitrage Event Driven Monitor – April 22, 2025

Merger Arbitrage

1. SLRN: Alumis (ALMS) and Acelyrin (SLRN) announced an amendment to the existing terms of their merger agreement, wherein Acelyrin stockholders will now receive 0.4814 shares of Alumis common stock for each share of Acelyrin common stock owned, representing a value of $2.41 per share.
2. BECN: QXO (QXO) extended its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply (BECN) to April 28, 2025. Computershare Trust Company reported that as of April 19, 2025, about 23.82 million shares have been validly tendered, representing about 38.32% of the issued and outstanding shares.
3. VCSA: Vacasa (VCSA) announced that both leading independent proxy advisory firms—Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis)—recommend that shareholders vote “FOR” the proposed merger with Casago.

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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