InsideArbitrage Event Driven Monitor – October 16, 2025

Merger Arbitrage

1. HI: The acquisition of Hillenbrand, Inc. (HI) by Lone Star Funds for a closing value of $3.8 billion. Hillenbrand will be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $32 per share, representing a premium of 20.80% from the stock’s last close. (Press Release)
2. TRUE: The acquisition of TrueCar, Inc. (TRUE) by Fair Holdings, Inc. for a closing value of $227 million. Fair Holdings, an entity led by TrueCar founder Scott Painter, will acquire the company in an all-cash, go-private transaction at $2.55 per share, representing a premium of 72.30% from the stock’s last close. (Press Release)
3. STAA: Reuters reported that proxy advisory firm Institutional Shareholder Services recommended that investors in eyecare company STAAR Surgical (STAA) vote against a planned deal with Alcon (ALC), due to pushback from big shareholders and other “deficiencies.”

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