InsideArbitrage Event Driven Monitor – July 18, 2025

Merger Arbitrage

1. VIGL: Vigil (VIGL) announced that the HSR Waiting Period expired on July 16, 2025.
2. WBA: Bloomberg reported that Banks selling the term loans backing Sycamore Partners’ acquisition of Boots have increased the minimum size of the dollar-denominated portion, while cutting the overall size of its bond issuance for the second time. The pharmacy chain upsized its dollar-denominated term loan B to $1 billion from $750 million.
3. IPG: Omnicom (OMC) and Interpublic (IPG) announced that the Australian Competition and Consumer Commission (ACCC) has granted clearance for Omnicom’s acquisition of Interpublic. The companies remain firmly on track to complete the transaction in the second half of 2025.

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