InsideArbitrage Event Driven Monitor – September 29, 2025

Merger Arbitrage

1. MRUS: The acquisition of Merus N.V. (MRUS) by Genmab A/S (GMAB) for a closing value of $8 billion. Genmab intends to acquire all the shares of Merus for $97 per share in an all-cash transaction, representing a 40.80% premium from the stock’s last close. (Press Release)
2. HOFV: Shareholders of Hall of Fame Resort & Entertainment (HOFV) approved the company’s merger with Industrial Realty Group at a special meeting of shareholders held on September 24, 2025.
3. SCS: HNI (HNI) announced the commencement of an offer to exchange all outstanding 5.125% Notes due 2029 of Steelcase (SCS) for up to $450 million aggregate principal amount of new notes to be issued by HNI. The Exchange Offer and Consent Solicitation will expire on October 27, 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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