InsideArbitrage Event Driven Monitor – May 29, 2026
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Merger Arbitrage
- CZR: The acquisition of Caesars Entertainment, Inc. (CZR) by Fertitta Entertainment, Inc. for a closing value of $17.6 billion. Caesars’ shareholders will receive $31 in cash for each outstanding Caesars’ share, representing a premium of 7.71% from the stock’s last close. In February, the Financial Times reported that Caesars Entertainment was weighing takeover offers, including a bid from Texas gaming and hospitality billionaire Tilman Fertitta. (Press Release)
- THR: CECO Environmental (CECO) and Thermon Group (THR) announced that both companies’ stockholders overwhelmingly voted to approve the merger of the companies. The deal is expected to close on June 1, 2026.
- NSC: The Surface Transportation Board is pushing pause on its review of the merger between Union Pacific (UNP) and Norfolk Southern (NSC). STB said it needed more information to “thoroughly evaluate” the two railroads’ revised application.
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