InsideArbitrage Event Driven Monitor – October 2, 2025

Merger Arbitrage

1. VECO: The acquisition of Veeco Instruments Inc. (VECO) by Axcelis Technologies, Inc. (ACLS) for a closing value of $2.18 billion. Veeco shareholders will receive 0.3575 Axcelis shares for each share of Veeco they own, representing an implied value of $34.91 per share. This is at a premium of 14.71% from the stock’s last close. (Press Release)
2. EM: Smart Share (EM) filed the preliminary proxy statement for its acquisition by Mobile Charging. The company expects the merger to be completed during the fourth quarter of 2025.
3. PRO: Thoma Bravo and PROS Holdings (PRO) announced the post-closing plans for PROS. Following the completion of the acquisition of PROS, which is expected to close in Q4 2025, Thoma Bravo intends to run the travel business of PROS as a platform investment, while the existing portfolio company, Conga, will combine with the B2B business of PROS.

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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