InsideArbitrage Event Driven Monitor – June 26, 2025

Merger Arbitrage

1. VERV: Ridgeway Acquisition Corporation, a wholly owned subsidiary of Eli Lilly (LLY), commenced the tender offer to acquire Verve Therapeutics (VERV) for $10.50 per share in cash. The offer will expire on July 23, 2025.
2. K: The European Commission opened a Phase II investigation into Mars’ proposed acquisition of Kellanova (K) over competition concerns; a decision is due by October 31, 2025. On the other hand, the U.S. FTC granted early termination of its review, clearing the deal.
3. LSEA: The acquisition of Landsea Homes (LSEA) by New Home was completed on June 25, 2025. It took 43 days for the deal to be completed.

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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