InsideArbitrage Event Driven Monitor – June 9, 2025

Merger Arbitrage

1. X: U.S. Steel (X) announced that CFIUS submitted a recommendation about the merger to President Trump on May 21, 2025. Since then, the company, Nippon Steel, and the U.S. government have kept working together to try to resolve the issue and avoid the need for the CFIUS Litigation. On June 5, the U.S. Department of Justice asked the court to delay the CFIUS legal case until June 13, 2025.
2. GB: Shift4 Payments (FOUR) announced that it is further extending the all-cash tender offer to purchase all of the outstanding shares of Global Blue (GB) to June 23, 2025. The transaction is expected to close by the third quarter of 2025.
3. WBA: Walgreens Boots Alliance (WBA) filed a definitive proxy statement. The special meeting of shareholders will be held on July 11, 2025.

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

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