InsideArbitrage Event Driven Monitor – May 29, 2025

Merger Arbitrage

1. GOGL: The acquisition of Golden Ocean Group Limited (GOGL) by Cmb.Tech NV (CMBT), for a closing value of $3.16 billion. Under the terms of the agreement, Golden Ocean will merge with and into CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda to remain as the surviving company. Each outstanding common share of Golden Ocean will be cancelled and exchanged for newly issued CMB.TECH ordinary shares at an exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean, representing a deal value of $8.46 per share, which is at an 18% premium from the stock’s last close. Upon completion of the merger, CMB.TECH would issue about 95.95 million new ordinary shares. (Press Release)
2. SWTX: SpringWorks (SWTX) filed a definitive proxy statement. The special meeting of shareholders will be held on June 26, 2025.
3. PPBI: Columbia Banking System (COLB) filed Form S-4 for the acquisition of Pacific Premier (PPBI).

You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here.

Only plus or premium subscribers can access this post. Subscribe today.