InsideArbitrage Event Driven Monitor – April 4, 2025
Merger Arbitrage
- OPOF: The acquisition of Old Point Financial Corporation (OPOF) by TowneBank (TOWN), for a closing value of $203 million. Under the terms of the agreement, shareholders of Old Point will elect to receive either $41 in cash or 1.14 shares of TowneBank common stock for each share of Old Point outstanding common stock. Old Point shareholders will have the right to elect cash or stock consideration so long as the total stock consideration issued represents between 50% and 60% of the total consideration paid. (Press Release)
- DFS: The New York Times reported that Capital One (COF) cleared a significant obstacle to its proposed acquisition of Discover Financial Services (DFS) after the Justice Department told regulators that it doesn’t see sufficient competition concerns to block the deal. This week, the department sent a letter to the Federal Reserve and the Office of the Comptroller of the Currency saying it had concluded its investigation and did not believe there were concerns that warranted blocking the deal.
- OPTN: OptiNose (OPTN) filed the preliminary proxy statement for its merger with Paratek. The company expects the merger to be completed during the second or third quarter of 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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