InsideArbitrage Event Driven Monitor – July 27, 2026

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Merger Arbitrage

1. FBRX: The acquisition of Forte Biosciences, Inc. (FBRX) by argenx SE (ARGX) for a closing value of $2.2 billion. argenx, through a wholly owned subsidiary, will commence a cash tender offer to acquire all of the outstanding shares of Forte Biosciences’ common stock for $77 per share, representing a 40.56% premium from the stock’s last close. (Press Release)
2. LSTA: Lisata Therapeutics (LSTA) terminated the merger with Kuva Labs. The termination follows Kuva Labs’ failure to accept for payment all common shares validly tendered. Kuva was unable to obtain sufficient financing for purposes of funding the offer and will be instructing Equiniti Trust to return the shares tendered in the offer to the holders thereof.
3. LPSN: LivePerson (LPSN) announced that on July 20, 2026, the final foreign investment clearance was received from the Bulgarian authority.

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