InsideArbitrage Event Driven Monitor – June 18, 2025
Merger Arbitrage
- VERV: The acquisition of Verve Therapeutics (VERV) by Eli Lilly and Company (LLY) for a closing value of $1 billion. Under the terms of the agreement, Lilly will commence a tender offer to acquire all of the outstanding shares of Verve for a purchase price of $10.50 per share in cash (an aggregate of approximately $1 billion) payable at closing, plus one non-tradeable contingent value right (CVR) per share that entitles the holder to receive up to an additional $3.00 per share, for a total potential consideration of up to $13.50 per share in cash without interest (an aggregate of up to approximately $1.3 billion). CVR holders would become entitled to receive the contingent payment upon the first patient being dosed with VERVE-102 for ASCVD in a U.S. Phase 3 clinical trial on or prior to the tenth anniversary of closing or termination of the CVR. (Press Release)
- DADA: Dada Nexus has completed its merger with JD Sunflower Merger Sub, a unit of JD Sunflower Investment (wholly owned by JD.com). As a result, Dada Nexus is now a wholly owned subsidiary of JD.com and will no longer be publicly traded. It took 76 days for the deal to be completed.
- PLYA: Hyatt Hotels Corporation announced the completed acquisition of Playa Hotels & Resorts N.V. It took 127 days for the deal to be completed.
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