InsideArbitrage Event Driven Monitor – June 10, 2026

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Merger Arbitrage

1. LSTA: Lisata Therapeutics (LSTA) announced that on June 8, it amended the merger with Kuva Labs. The tender offer will commence on June 10, 2026, extended from June 1, 2026.
2. NATH: Nathan’s Famous (NATH) announced that, effective June 9, the Board declared its quarterly cash dividend for fiscal 2027 of $0.5 per share, which is payable on June 30, 2026, to shareholders of record on June 22, 2026. Nathan’s said that given the impact of the partial government shutdown on statutory deadlines for CFIUS’s review process, the anticipated closing timeline has shifted, and the company now expects the transaction to close in the second half of 2026.
3. WBD: UK Competition and Markets Authority (CMA) announced it is investigating the acquisition of Warner Bros. Discovery (WBD) by Paramount Skydance (PSKY). The deadline for the CMA to announce its decision on whether to refer the merger for a phase 2 investigation is August 7, 2026.

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