InsideArbitrage Event Driven Monitor – June 25, 2025

Merger Arbitrage

1. GNTY: The acquisition of Guaranty Bancshares, Inc. (GNTY) by Glacier Bancorp, Inc. (GBCI), for a closing value of $476.2 million. Under the terms of the agreement, Guaranty shareholders are to receive 1 share of Glacier stock for each Guaranty share, at a value of $41.58 per Guaranty share, representing a 1.86% discount from the stock’s last close. (Press Release)
2. GB: Shift4 Payments (FOUR) announced it is further extending its all-cash tender offer for Global Blue (GB) to July 2, 2025. Equiniti Trust Company reported that, as of June 23, about 233.26 million shares have been validly tendered, representing approximately 97.12% of the issued and outstanding shares.
3. LSEA: Landsea Homes (LSEA) announced that the tender offer expired on June 24, 2025. The Depositary and Paying Agent has indicated that, as of June 24, about 28.24 million shares were validly tendered, representing about 77.35% of the issued and outstanding shares.

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