InsideArbitrage Event Driven Monitor – April 29, 2025
Merger Arbitrage
- SWTX: The acquisition of SpringWorks Therapeutics, Inc. (SWTX) by Merck KGaA, for a closing value of $3.4 billion. Under the terms of the agreement, Merck KGaA will acquire SpringWorks for a purchase price of $47 per share in cash. (Press Release)
- RDUS: Radius Recycling (RDUS) filed a definitive proxy statement. The special meeting of shareholders will be held on June 5, 2025.
- PLYA: Hyatt Hotels (H) extended the offering period of its tender offer to purchase all of the outstanding ordinary shares of Playa Hotels & Resorts (PLYA) to expire on May 23, 2025. For purposes of the minimum tender condition, the 83.5 million Playa ordinary shares reported to us by Computershare Trust Company as validly tendered and not properly withdrawn as of April 25, 2025, represent about 75% of the outstanding shares.
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