InsideArbitrage Event Driven Monitor – February 20, 2026

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Merger Arbitrage

1. SSTK: UK’s Competition and Markets Authority (CMA) said it has provisionally found competition concerns over the supply of editorial content in the UK in the merger of Shutterstock (SSTK) and Getty Images (GETY). The concerns are not in respect of the supply of stock content globally, the CMA said as part of its in-depth investigation of the merger.
2. WBD: Reuters reported that Netflix (NFLX) has ample cash and could bump up its offer for HBO Max owner Warner Bros Discovery (WBD) if competing bidder Paramount Skydance (PSKY) increases its own offer.
3. ONTF: ON24 (ONTF) announced that on February 13, the company received notice from the United States Federal Trade Commission of early termination of the waiting period under the HSR Act for its acquisition by an affiliated entity of Cvent.

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