InsideArbitrage Event Driven Monitor – May 21, 2026

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Merger Arbitrage

1. SEM: Select Medical (SEM) filed a definitive proxy statement. The special meeting of shareholders will be held on June 26, 2026.
2. NATL: UK Competition and Markets Authority (CMA) announced it is seeking views on the acquisition of NCR Atleos (NATL) by Brink’s (BCO). The CMA has not yet launched its formal investigation into the transaction.
3. WBD: WSJ reported that FCC Chairman Brendan Carr said he doesn’t think state governments should try to block the Warner (WBD) – Paramount (PSKY) deal.

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