InsideArbitrage Event Driven Monitor – January 12, 2026

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Merger Arbitrage

1. SNCY: The acquisition of Sun Country Airlines Holdings, Inc. (SNCY) by Allegiant Travel Company (ALGT), for a closing value of $1.5 billion. Allegiant will acquire Sun Country in a cash and stock transaction at an implied value of $18.89 per Sun Country share, representing a 19.78% premium from the stock’s last close. Sun Country shareholders will receive 0.1557 shares of Allegiant common stock and $4.10 in cash for each Sun Country share owned. (Press Release)
2. EXAS: Exact Sciences (EXAS) filed a definitive proxy statement. The special meeting of shareholders will be held on February 20, 2026.
3. GBIO: XRA 7 Corp., a wholly owned subsidiary of XOMA Royalty (XOMA), commenced the tender offer to acquire Generation Bio (GBIO) for $4.2913 per share in cash. The offer will expire on February 8, 2026.

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