InsideArbitrage Event Driven Monitor – December 22, 2025
Merger Arbitrage
- FOLD: The acquisition of Amicus Therapeutics, Inc. (FOLD) by BioMarin Pharmaceutical Inc. (BMRN) for a closing value of $4.8 billion. BioMarin will acquire Amicus for $14.5 per share in an all-cash transaction, representing a premium of 33.15% from the stock’s last close. (Press Release)
- CWAN: The acquisition of Clearwater Analytics Holdings, Inc. (CWAN) by a Permira and Warburg Pincus-led Investor Group, with participation from Temasek, and support from Francisco Partners, for a closing value of $8.4 billion. Clearwater Analytics stockholders will receive $24.55 per share in cash, representing a 10.34% premium from the stock’s last close. (Press Release)
- WBD: Bloomberg reported that Alex Fitch, director of US research at Harris Associates, is encouraging Paramount Skydance (PSKY) to increase its offer for Warner Bros. Discovery (WBD). Harris is the fifth-largest shareholder of Warner Bros. with about 3.9% of the stock.
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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