InsideArbitrage Event Driven Monitor – January 20, 2026

Note: You can click on any section title to jump straight to the related tool or page.

Merger Arbitrage

1. RAPT: The acquisition of RAPT Therapeutics, Inc. (RAPT) by GSK plc (GSK) for a closing value of $1.9 billion. GSK will pay RAPT Therapeutics shareholders $58 per share, representing a 65.24% premium from the stock’s last close. (Press Release)
2. KVUE: Reuters reported that Institutional Shareholder Services recommended that shareholders approve plans by Kleenex ​maker Kimberly-Clark (KMB) to buy Tylenol maker Kenvue (KVUE), saying a ‌tie-up could improve financial metrics. “On balance, support for the transaction is warranted,” wrote ISS.
3. NSC: Union Pacific (UNP) and Norfolk Southern’s (NSC) merger application is incomplete, the Surface Transportation Board said. The Board rejected the application due to its incomplete status. The regulator said the application had insufficient information on the proposed combined company’s projected market share and lacked other necessary documents.

Only plus or premium subscribers can access this post. Subscribe today.