InsideArbitrage Event Driven Monitor – June 16, 2026
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Merger Arbitrage
- ROKU: The acquisition of Roku Inc. (ROKU) by Fox Corporation (FOXA) for a closing value of $22 billion. Roku stockholders will receive $96.00 in cash and 0.9693 shares of FOX Class A common stock for each Roku Class A and Class B share outstanding, representing an implied value of $160 per share. This represents a premium of 11.37% from the stock’s last close. On June 12, 2026, Reuters reported that Roku Inc. (ROKU) was exploring its strategic options, including a full sale of the company, amid interest from companies seeking access to its vast streaming audience and advertising platform. The stock was trading at $119.64 when the potential rumor was revealed. (Press Release)
- PAYO: The acquisition of Payoneer Global Inc. (PAYO) by Nuvei for a closing value of $2.75 billion. Nuvei will acquire all of the issued and outstanding shares of common stock of Payoneer Global Inc. for $7.40 per share in cash, representing a premium of 9.63% from the stock’s last close. On June 9, 2026, Reuters reported that Nuvei was in advanced talks to acquire Payoneer Global for about $2.7 billion. The stock was trading at $5.14 when the potential rumor was revealed. (Press Release)
- TWO: Two Harbors Investment (TWO) announced that UWM Holdings (UWMC) did not submit a new proposal during a waiver period that Two Harbors obtained to engage directly with UWMC on a potential transaction. The waiver period expired on June 12, 2026. The Special Meeting is scheduled for June 23, 2026. Two Harbors recommended shareholders vote FOR the proposed transaction with CrossCountry Mortgage on the WHITE proxy card at the Special Meeting. Two Harbors also filed an additional definitive proxy statement, in which George Assad, a shareholder of Two Harbors, has filed an amended class action complaint on June 12, 2026, alleging that Two Harbors’ Board breached its duty of loyalty by steering stockholders toward CrossCountry’s lower $12.00/share bid over UWMC’s fully financed $12.50/share offer.
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