InsideArbitrage Event Driven Monitor – April 25, 2024
Merger Arbitrage HCP: The acquisition of HashiCorp (HCP) by IBM (IBM) for a closing value of $6.4 billion. Under the terms of the agreement, IBM will acquire HashiCorp for $35 per share in cash. DFS: On April 24, 2024, the Office of the Comptroller of the Currency (OCC) announced an extension of the comment period until May 31, 2024, for the application of Capital One (COF) to acquire Discover (DFS). CPRI: FTC’s lawsuit to block Tapestry’s (TPR) purchase of Capri (CPRI) was reassigned to US District Court Judge Jennifer Rochon from Judge John Koeltl. Judge Rochon was appointed by President Joe Biden in 2021 and began her judicial commission in June 2022. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deal in the Works SPR: Boeing (BA) CEO Dave Calhoun said in an interview on CNBC that the potential deal with Spirit AeroSystems (SPR) is not getting delayed, after reports of the talks slowing down. Calhoun said he expects to get the deal announced in the second quarter, adding “it’s more than likely.” FRBK: Bloomberg reported that the Federal Deposit Insurance Corp. (FDIC) is in talks with potential acquirers for Republic First Bancorp (FRBK)....
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