InsideArbitrage Event Driven Monitor – October 17, 2025

Merger Arbitrage

1. SPNS: Sapiens (SPNS) filed a definitive proxy statement. The special meeting of shareholders will be held on November 19, 2025.
2. EA: Bloomberg reported that the consortium buying Electronic Arts (EA) is set to add more than a dozen banks to its underwriting group after JPMorgan Chase put up $20 billion of debt to bankroll the leveraged buyout. The deal would shift some risk off of JPMorgan by bringing other financial firms into the fold.
3. PBPB: Potbelly (PBPB) announced that the HSR Condition was satisfied due to the expiration of the applicable waiting period under the HSR Act on October 14, 2025. The companies filed their respective Premerger Notification and Report Forms with the FTC and the Antitrust Division on September 26, 2025.

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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