InsideArbitrage Event Driven Monitor – September 19, 2025

Merger Arbitrage

1. CTLP: Cantaloupe (CTLP) announced it received a request for additional information and documentary material (Second Request) from the U.S. Federal Trade Commission (FTC) on September 17, for the HSR Act in connection with the merger. The companies expect to complete the merger in the first half of 2026.
2. DALN: DallasNews (DALN) announced that its Board has rejected the revised bid from MNG Enterprises of $20 per share in cash, and has reaffirmed the recommendation that shareholders vote FOR approval of the Hearst merger.
3. TIXT: TELUS Digital (TIXT) announced that on September 17, the Supreme Court of British Columbia granted an interim order for the merger, authorizing the calling and holding of the Special Meeting and setting out certain procedures to follow in respect of the Special Meeting.

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