InsideArbitrage Event Driven Monitor – July 8, 2025

WNS: The acquisition of WNS (Holdings) Limited (WNS) by Capgemini for a closing value of $3.3 billion. Under the terms of the agreement, Capgemini will acquire WNS for a cash consideration of $76.50 per WNS share, representing a 17.01% premium from the stock’s last close. (Press Release)
SAND: The acquisition of Sandstorm Gold Ltd. (SAND) by Royal Gold, Inc. (RGLD) for a closing value of $3.5 billion. Under the terms of the agreement, Royal Gold will acquire 100% of the issued share capital of Sandstorm in exchange for Royal Gold shares at an exchange ratio of 0.0625 common shares of Royal Gold for each common share of Sandstorm, representing a price of $11.24 per share. The per-share price is at a premium of 16.72% from the stock’s last close. Royal Gold will also acquire 100% of the issued share capital of Horizon Copper in exchange for cash of C$2/share. The price per Horizon share reflects a transaction equity value of about $196 million. (Press Release)
CORZ: The acquisition of Core Scientific, Inc. (CORZ) by CoreWeave, Inc. (CRWV) for a closing value of $9 billion. Under the terms of the agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock. This represents a $20.40 per share value, which is at a 13.33% premium from the stock’s last close. (Press Release)

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