InsideArbitrage Event Driven Monitor – September 12, 2025
Merger Arbitrage
- NSC: WSJ reported that President Trump has nominated a new board member to the railroad regulator, weighing the proposed merger between Union Pacific (UNP) and Norfolk Southern (NSC), a month after ousting a Democratic member from the board. Trump’s new pick to serve on the Surface Transportation Board is Richard Kloster, president of transportation consulting company Integrity Rail Partners.
- DRRX: The acquisition of DURECT (DRRX) by Bausch Health (BHC) was completed on September 11, 2025. It took 44 days for the deal to be completed.
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