InsideArbitrage Event Driven Monitor – May 22, 2025

Merger Arbitrage

1. CFSB: The acquisition of CFSB Bancorp, Inc. (CFSB) by Hometown Financial Group, Inc., for a closing value of $44 million. Under the terms of the agreement, CFSB shareholders will receive $14.25 in cash for each share of CFSB common stock, representing a 73.99% premium from the stock’s last close. (Press Release)
2. SGMA: The acquisition of SigmaTron International, Inc. (SGMA) by Transom Capital Group, LLC, for a closing value of $83 million. Under the terms of the agreement, an affiliate of Transom will commence a tender offer to acquire all outstanding shares of SigmaTron’s common stock for $3.02 per share in cash, representing a premium of 134.11% from the stock’s last close. (Press Release)
3. VIGL: The acquisition of Vigil Neuroscience, Inc. (VIGL) by Sanofi (SNY), for a closing value of $470 million. Under the terms of the agreement, Sanofi will acquire all outstanding common shares of Vigil for $8.00 per share in cash. In addition, Vigil’s shareholders will receive a non-transferable CVR per Vigil share, which will entitle its holder to receive a deferred cash payment of $2.00, conditioned upon the first commercial sale for VG-3927. The upfront cash consideration of $8 per share represents a 246.32% premium from the stock’s last close. (Press Release)

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