InsideArbitrage Event Driven Monitor – July 17, 2025

Merger Arbitrage

1. IGMS: Concentra Merger Sub V, Inc., a wholly owned subsidiary of Concentra Biosciences, commenced the tender offer to acquire IGM Biosciences (IGMS) for $1.247 per share in cash. The offer will expire on August 13, 2025.
2. AVDX: AvidXchange (AVDX) filed the preliminary proxy statement for its acquisition by TPG (TPG) and Corpay (CPAY). The company anticipates that the merger will be completed in the fourth quarter of 2025.
3. BPMC: Sanofi (SNY) announced that Rothko Merger Sub, Inc., a wholly owned subsidiary of Sanofi, has extended the expiration date of its tender offer to purchase all of the outstanding shares of Blueprint Medicines (BPMC). The offer, which was previously scheduled to expire on July 16, 2025, has been extended to July 17, 2025.

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.