InsideArbitrage Event Driven Monitor – October 31, 2025

Merger Arbitrage

1. REVG: The acquisition of REV Group, Inc. (REVG) by Terex Corporation (TEX) for a closing value of $3.18 billion. REV Group shareholders will receive, for each REV Group share, 0.9809 of a share of the combined company and $8.71 in cash ($425 million in total). The combined company will continue to be traded on the NYSE under the symbol TEX. The implied consideration is valued at $63.62 per REV share, representing a premium of 6.07% over the stock’s last close. (Press Release)
2. IROQ: The acquisition of IF Bancorp, Inc. (IROQ) by ServBanc Holdco, Inc. for a closing value of $89.8 million. IF Bancorp’s shareholders will receive $27.2 per share in cash for each share of IF Bancorp common stock, which represents a premium of 7.51% from the stock’s last close. (Press Release)
3. CORZ: Core Scientific (CORZ) announced that it had terminated the merger agreement with CoreWeave (CRWV), effective immediately, as it did not receive the requisite number of votes to approve the merger agreement with CoreWeave at a special meeting of stockholders.

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