InsideArbitrage Event Driven Monitor – April 8, 2026

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Merger Arbitrage

1. SLNO: Soleno (SLNO) announced that it had voluntarily withdrawn its marketing authorization application (MAA) for VIOKAT prolonged-release tablets (diazoxide choline), which is marketed in the United States as VYKATTM XR, its medicinal product for the treatment of adults and children aged 4 years and older with Prader-Willi syndrome (PWS) who experience hyperphagia. The company had previously announced that the application had been under review by the European Medicines Agency (EMA), with a decision expected in mid-2026.
2. TERN: Merck Sharp & Dohme LLC, a wholly owned subsidiary of Merck (MRK), commenced the tender offer to acquire Terns (TERN) for $53 per share in cash. The offer will expire on May 4, 2026.
3. TALK: Talkspace (TALK) filed the preliminary proxy statement for its acquisition by Universal Health Services (UHS). The company expects the merger to be completed during the third quarter of 2026.

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