InsideArbitrage Event Driven Monitor – June 29, 2023

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Merger Arbitrage

1. KLR: The acquisition of Kaleyra by Tata Communications Limited for $316.2 million or $7.25 per share in cash.
2. CIR: According to Reuters, Arcline Investment Management, a private-equity firm, has put forward a cash offer to acquire Circor International (CIR) at a price of $57 per share. This proposal surpasses a competing bid from KKR & Co (KKR) by an additional $6. The new offer follows Circor International’s rejection of a bid from an undisclosed bidder, opting instead to enter into a $1.7 billion agreement with KKR.
3. XM: Silver Lake and CPP Investments completed the acquisition of Qualtrics International.

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