InsideArbitrage Event Driven Monitor – July 15, 2025
Merger Arbitrage
- MGRM: The acquisition of Monogram Orthopaedics, Inc. (MGRM) by Zimmer Biomet Holdings, Inc. (ZBH) for a closing value of $168 million. Under the terms of the agreement, Zimmer Biomet will acquire all outstanding shares of stock of Monogram for an upfront payment of $4.04 per share in cash, representing a premium of 22.80% from the stock’s last close. Monogram common stockholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $12.37 per share of common stock in cash if certain product development, regulatory, and revenue milestones are achieved through 2030. (Press Release)
- VBTX: The acquisition of Veritex Holdings, Inc. (VBTX) by Huntington Bancshares Incorporated (HBAN) for a closing value of $1.9 billion. Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction. The deal implies consideration of $33.91 per Veritex share, representing a 23.49% premium from the stock’s last close. (Press Release)
- ETWO: E2open (ETWO) filed a definitive information statement. The merger is expected to be completed in the second half of 2025.
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