InsideArbitrage Event Driven Monitor – July 2, 2025
Merger Arbitrage
- IGMS: The acquisition of IGM Biosciences, Inc. (IGMS) by Concentra Biosciences, LLC, for a closing value of $82.85 million. Under the terms of the agreement, Concentra will acquire IGM Biosciences for $1.247 in cash per share of IGM Biosciences common stock, plus one non-tradeable contingent value right (CVR), which represents the right to receive: 100% of the closing net cash of IGM Biosciences in excess of $82 million; and 80% of any net proceeds received within one year following closing from any disposition of certain of IGM Biosciences’ product candidates and intellectual property that occurs within one year following closing. The cash consideration of $1.247 per share represents a premium of 11.34% from the stock’s last close. (Press Release)
- HOFV: Hall of Fame Resort & Entertainment (HOFV) filed the preliminary proxy statement for its acquisition by Industrial Realty Group. The company anticipates that the merger will be completed in the second half of 2025.
- TASK: TaskUs (TASK) filed the preliminary proxy statement for its acquisition by Blackstone (BX) and TaskUs Co-Founders. The company anticipates that the merger will be completed in the second half of 2025.
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