InsideArbitrage Event Driven Monitor – October 1, 2026

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Merger Arbitrage

1. CBNK: The acquisition of Capital Bancorp, Inc. (CBNK) by Peoples Bancorp Inc. (PEBO) for a closing value of $728.10 million. Shareholders of Capital will receive 1.11 shares of Peoples common stock for each share of Capital common stock, representing a value of $43.15 per Capital share, at a 21.03% premium from the stock’s last close. (Press Release)
2. WBD: US District Court Judge Araceli Martínez-Olguin approved the settlement, clearing the way for Paramount (PSKY) to close its acquisition of Warner Bros. (WBD), calling it a “reasonable factual and legal resolution.” The merger is expected to close October 6, 2026; if completed as planned, Warner Bros. shareholders will receive $31.01666668 in cash per share.
3. AES: Reuters reported that a group of US lawmakers, including Senator Elizabeth Warren, asked federal energy regulators this week to reject the sale of power company AES (AES), saying it could drive up electricity bills and benefit data centers at the expense of utility customers. “The private equity industry’s involvement in the public utility market has significant implications for consumers’ energy costs at a time when Americans are facing record-high utility bills,” said a letter dated Sept. 28, which was directed to Federal Energy Regulatory Commission Chairman Laura Swett.

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