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InsideArbitrage Event Driven Monitor – July 14, 2025

  • July 14, 2025

Merger Arbitrage

  1. TSBX: XOMA Royalty (XOMAcommenced the tender offer to acquire Turnstone Biologics (TSBX) for $0.34 in cash. The offer will expire on August 7, 2025.
  2. FL: Foot Locker (FL) filed a definitive proxy statement. The merger is expected to be completed during the second half of 2025.
  3. WBA: Walgreens Boots Alliance (WBA) announced that its shareholders had approved the merger with Sycamore Partners. Walgreens expects to close the transaction in the third or fourth 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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