InsideArbitrage Event Driven Monitor – May 6, 2026
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Merger Arbitrage
- FSEA: The acquisition of First Seacoast Bancorp, Inc. (FSEA) by Cambridge Financial Group, Inc. for a closing value of $80.9 million. First Seacoast Bancorp’s stockholders will receive $17.25 in cash for each share of common stock, representing a premium of 46.93% from the stock’s last close. (Press Release)
- KW: Kennedy-Wilson (KW) filed a definitive proxy statement. The special meeting of shareholders will be held on June 10, 2026.
- VAL: Valaris (VAL) announced that it filed an HSR Act notification with the Federal Trade Commission and the Antitrust Division of the United States Department of Justice (DOJ) on March 2, 2026. Transocean (RIG) withdrew its filing under the HSR Act on April 1, 2026, and subsequently refiled on April 3, 2026. On May 4, 2026, the companies each received a Request for Additional Information and Documentary Materials (Second Request) from the DOJ.
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