Cambridge Financial to Acquire First Seacoast for $80.9 Million in a Cash Deal
Cambridge Financial Group announced a cash acquisition of First Seacoast Bancorp for $80.9 million. Shareholders will receive $17.25 per share, representing a 46.9% premium over the prior close. The transaction values First Seacoast at 0.97 times tangible book value and adds roughly $600‑$700 million in assets to Cambridge’s $7 billion balance sheet. Cambridge Savings Bank will fold the Seacoast locations into its 24‑branch network, with closing expected in Q3 2026.
A Tumultuous Bidding War For a Mortgage REIT – The Special Situations Report Episode 65
The latest Special Situations Report podcast spotlights a fierce bidding war for mortgage REIT Two Harbors, with two of the nation’s largest mortgage lenders vying for control. It also covers Five9’s accelerated share repurchase program, which amounts to roughly 15%...
Long Lake Management to Acquire Global Business Travel Group for $6.3 Billion in Cash
Long Lake Management announced a cash acquisition of Global Business Travel Group for $6.3 billion, offering Amex GBT shareholders $9.50 per share—a 60.2% premium to the prior close. The deal, backed by investors such as General Catalyst and Koch Equity Development,...
Global Net Lease to Acquire Modiv Industrial in a $535 Million Stock Deal
Global Net Lease (GNL) announced a definitive merger agreement to acquire Modiv Industrial (MDV) in an all‑stock transaction valued at approximately $535 million. Modiv shareholders will receive 1.975 newly issued GNL shares per Modiv share, translating to $18.82 per share—a 16.97%...
ARCHIMED to Acquire Esperion Therapeutics in a $1.1 Billion Deal
ARCHIMED has agreed to acquire Esperion Therapeutics for approximately $1.1 billion, offering shareholders $3.16 in cash per share—a 58% premium—and a contingent value right (CVR) that could add up to $100 million based on future sales milestones. The transaction values Esperion at...
InsideArbitrage Event Driven Monitor – May 1, 2026
The InsideArbitrage May 1 roundup highlights a wave of high‑profile M&A activity, including Union Pacific’s amended merger filing with Norfolk Southern that could pull 2.1 million trucks off highways, and shareholder approvals for Silicon Labs‑Texas Instruments and ZIM‑Hapag‑Lloyd deals. UWM Holdings sweetened...
Chiesi Group Acquires KalVista Pharmaceuticals for $1.9 Billion
Chiesi Group announced a $1.9 billion cash acquisition of KalVista Pharmaceuticals, offering $27 per share—a 40.3% premium. The deal gives Chiesi control of sebetralstat, an oral protease inhibitor for hereditary angioedema that posted $49 million U.S. sales in 2025. Closing is targeted...
InsideArbitrage Event Driven Monitor – April 28, 2026
The InsideArbitrage April 28 roundup highlights a flurry of high‑profile M&A activity, including The Real Brokerage’s $880 million acquisition of RE/MAX at a 72.7% premium and Ligand Pharmaceuticals’ $739 million purchase of XOMA with a litigation‑linked contingent value right. Regulatory clearance was secured...
Tim Cook Steps Down and a Massive Buyback at Adobe – The Special Situations Report Episode 64
Apple announced that longtime CEO Tim Cook will step down, with a new executive slated to take the helm, marking a rare C‑suite shift for the tech giant. In parallel, Adobe disclosed a $25 billion share‑repurchase program, the largest ever for...
Ligand Pharmaceuticals Acquires XOMA Royalty in a $739 Million Deal
Ligand Pharmaceuticals announced a $739 million acquisition of XOMA Royalty Corporation, offering $39 per share—a 2.9% premium to the prior close. The transaction also grants XOMA shareholders a contingent value right (CVR) tied to 75% of net proceeds from pending TREMFYA...
Blue Owl Expands Real Estate with Sila Realty Acquisition – Merger Arbitrage Mondays
Blue Owl Capital announced a $2.4 billion all‑cash acquisition of Sila Realty Trust, a healthcare‑focused REIT, at $30.38 per share—a 19% premium to the prior close. The deal, expected to close in Q2‑Q3 2026, adds 137 properties across 65 U.S. markets...
Sun Pharmaceutical Acquires Organon for $11.75 Billion
Sun Pharmaceutical Industries announced an all‑cash acquisition of Organon & Co. for $11.75 billion, offering $14 per share—a 24.33% premium to the prior close. The deal values Organon at 6.76 times its EBITDA and will be funded through Sun Pharma’s cash...
InsideArbitrage Event Driven Monitor – April 24, 2026
The InsideArbitrage Event‑Driven Monitor highlighted several high‑profile M&A moves, including Inventurus Knowledge Solutions’ $557 million acquisition of TruBridge at a 14.8% premium and Warner Bros. Discovery’s shareholder‑approved merger with Paramount Skydance slated for Q3 2026. Major corporate actions also featured Netflix’s $25 billion share‑buyback...
Inventurus Knowledge Solutions Acquires TruBridge for $557.27 Million
Inventurus Knowledge Solutions announced an all‑cash acquisition of TruBridge for $557.27 million, pricing each share at $26.25—a 14.83% premium to the prior close. The transaction, slated to close in Q3 2026, will be funded mainly through new debt arranged by Citibank, JPMorgan...
Adobe’s Massive $25 Billion Stock Buyback
Adobe announced a $25 billion stock buyback, representing roughly 25% of its $101 billion market capitalization. The program, authorized through 2030, follows a prior $25 billion buyback in 2024 and adds to the 13% of shares the company has retired over the past...
SoundHound AI to Acquire LivePerson for $250 Million
SoundHound AI announced a merger agreement to acquire LivePerson for an enterprise value of $250 million, paying $43 million in equity at $3.57 per share, a 7.21% premium. The deal includes $74 million of LivePerson’s cash and the retirement of discounted debt using...
Electro-Sensors to Be Acquired by Steute Technologies for $8.9 Million in a Cash Deal
German industrial sensor maker steute Technologies GmbH & Co. KG has agreed to acquire U.S.-based Electro‑Sensors, Inc. in an all‑cash transaction valued at $8.9 million. Shareholders will receive $7.75 per share, representing a 74.94% premium over the prior close. The price...
Warner Bros. Discovery and Irenic’s Plan for SNAP With Dr. Paul Nary – Special Situations Report Podcast Episode 63
Episode 63 of the Special Situations Report Podcast features Wharton professor Paul Nary discussing four high‑profile corporate actions. The conversation covers Warner Bros. Discovery’s widening bid spread, Irenic Capital’s activist campaign targeting Snap, Bill Ackman’s intricate proposal for Universal Music...
Blue Owl to Acquire Sila Realty Trust in a $2.4 Billion Cash Deal
Blue Owl Capital announced a definitive agreement to acquire Sila Realty Trust for $2.4 billion in cash, pricing the transaction at $30.38 per share, a 19% premium to the prior close. The acquisition values Sila at 11.89 times its funds from...
Amazon Buys Globalstar to Challenge Starlink – Merger Arbitrage Mondays
Amazon.com announced a definitive agreement to acquire Globalstar for $11.68 billion, adding roughly two dozen low‑Earth‑orbit satellites to its Project Kuiper constellation. Globalstar shareholders can elect $90 in cash or 0.321 Amazon shares per share, with cash elections capped at 40% of...
InsideArbitrage Event Driven Monitor – April 16, 2026
The InsideArbitrage Event‑Driven Monitor highlights several high‑profile merger arbitrage moves, including Select Medical’s proxy filing for a mid‑2026 merger and Kimberly‑Clark’s detailed post‑closing leadership plan for its Kenvue acquisition. Lisata Therapeutics disclosed a postponed tender offer as its partner seeks...
Amazon.com to Acquire Globalstar in a $11.68 Billion Deal
Amazon.com announced a definitive agreement to acquire satellite‑communications firm Globalstar for $11.68 billion. Shareholders can elect $90 in cash or 0.3210 Amazon shares per Globalstar share, with cash limited to 40% of the equity and a $110 million downside adjustment. The acquisition...
Somnigroup International to Acquire Leggett & Platt in a $2.5 Billion All-Stock Deal
Somnigroup International announced an all‑stock acquisition of Leggett & Platt valued at $2.5 billion. Leggett shareholders will receive 0.1455 SGI shares per share, equivalent to $11.36 and a 13.69% premium. The transaction, priced at 6.64 × EBITDA, will give Leggett owners roughly 9%...
Ares Real Estate Funds to Acquire Whitestone REIT in a $1.7 Billion Cash Deal
Ares Real Estate Funds announced a $1.7 billion all‑cash acquisition of Whitestone REIT, offering $19 per share—a 12.16% premium to the prior close. Whitestone, which owns 56 open‑air retail centers across Sunbelt cities, will be bought at 24.94 times its adjusted funds...
InsideArbitrage Event Driven Monitor – April 9, 2026
The InsideArbitrage April 9 roundup spotlights several high‑profile M&A moves, including Garda Therapeutics’ $18‑per‑share cash tender for Assertio (a 2.23% discount) and the completion of Air Lease’s $2.3 billion acquisition by a consortium of Sumitomo, SMBC Aviation, Apollo and Brookfield after 218...
Assertio Holdings to Be Acquired by Garda Therapeutics in a $125.1 Million Deal
Garda Therapeutics announced a definitive agreement to acquire specialty‑pharma firm Assertio Holdings for $125.1 million. The tender offer will pay $18 in cash per share—a 2.23% discount to the prior close—and includes a non‑tradeable contingent value right tied to future Sprix...
Amazon in Talks to Acquire Globalstar For $9B – The Special Situations Report Episode 61
Amazon is reportedly in advanced talks to acquire satellite operator Globalstar for roughly $9 billion, a move that would expand its low‑Earth‑orbit (LEO) capabilities. Globalstar, which already serves IoT and maritime customers, is partially owned by Apple, adding a strategic partner...
Consortium Led by CEO Max Wygod to Take Forian Private for $68 Million
On April 3 2026, Forian Inc. agreed to be taken private by a consortium led by CEO Max Wygod for $68 million. Shareholders will receive $2.17 per share, a 3.33 percent premium, valuing the company at 2.16 times its annual sales. The deal will close...
InsideArbitrage Special Situations Newsletter: April 2026
InsideArbitrage’s April 2026 Special Situations newsletter updates its Deal‑in‑the‑Works (DITW) pipeline, now cataloguing 1,109 potential transactions dating back to 2017. The report highlights a renewed “relief rally” as the CNN Fear & Greed Index plunged into single‑digit territory on March 30,...
InsideArbitrage Event Driven Monitor – April 1, 2026
Eli Lilly announced a $6.3 billion cash‑plus‑contingent‑value‑right acquisition of Centessa Pharmaceuticals, paying a 37.8% premium, while Biogen launched a $5.6 billion tender offer for Apellis at a 140% premium. Fidelity BancShares agreed to buy Affinity Bancshares for $142.8 million, offering a 17.3% premium, and...
Fidelity BancShares Acquires Affinity Bancshares for $142.8 Million in a Cash Deal
Fidelity BancShares announced a cash acquisition of Georgia‑based Affinity Bancshares for $142.8 million, paying $23 per share—a 17.35% premium to the prior close. Affinity contributes roughly $882 million in assets and a portfolio focused on commercial real‑estate, construction, and small‑business lending. The...
CrossCountry Mortgage to Acquire Two Harbors for $8.45 Billion
CrossCountry Mortgage announced an $8.45 billion acquisition of Two Harbors Investment Corp., a leading mortgage REIT. Two Harbors common shareholders will receive $10.8 in cash per share, a 5.26% discount to the prior close, while Series A‑C preferred holders will be...
InsideArbitrage Event Driven Monitor – March 27, 2026
The InsideArbitrage Event Driven Monitor highlights a series of high‑profile M&A moves, including the $22 billion merger‑of‑equals between Equitable Holdings and Corebridge Financial, and Henkel's $1.4 billion cash acquisition of Olaplex at a 55% premium. Servier has opened a tender offer for...
Henkel to Acquire Olaplex for $1.4 Billion in Cash
Henkel AG announced a cash acquisition of Olaplex Holdings for $1.4 billion, offering $2.06 per share—a 54.9% premium to the prior close. The deal values Olaplex at 13.72 times its EBITDA and is slated to close in the second half of...
InsideArbitrage Event Driven Monitor – March 19, 2026
The March 19 InsideArbitrage Event Driven Monitor highlighted several high‑profile merger‑arbitrage moves, including SunOpta’s April 16 shareholder meeting following an Ontario court order and Saltchuk’s cash tender offer for Great Lakes Dredge’s 5.25% senior notes due 2029. The Department of...
Agero to Acquire Urgent.ly in a $156 Million Cash Deal
Agero Inc. announced a cash acquisition of Urgent.ly Inc. for $155.92 million, offering $5.5 per share—a 170.94% premium to the prior close. The tender offer, backed by Agero’s wholly‑owned subsidiary, targets all outstanding Urgent.ly shares and is slated to close by...
InsideArbitrage Event Driven Monitor – March 11, 2026
Merger arbitrage activity intensified this week as Paramount’s $24 billion bid for Warner Bros. met criticism from Senator Warren over a pending national‑security review, while Udemy filed a definitive proxy and Eventbrite’s sale to Bending Spoons closed after 98 days. Activist investors...
The SaaSpocalypse and Salesforce’s Massive Buyback – The Special Situations Report Episode 57
Episode 57 of the Special Situations Report podcast discusses four headline stories. Salesforce announced a $50 billion stock buyback, the largest ever for the company. The show also covers a bidding war for Reservoir Media, insider sales at Warner Bros. Discovery, and Elliott...
Kuva Labs to Acquire Lisata Therapeutics in a $21.38 Million Deal
Kuva Labs Inc. announced a $21.38 million acquisition of Lisata Therapeutics, offering $5 in cash per share plus one contingent value right (CVR) per share. The cash price reflects a 19.62% premium to Lisata’s last closing price. The CVR triggers an...
Servier to Acquire Day One Biopharmaceuticals in a $2.5 Billion Cash Deal
France‑based Servier announced a $2.5 billion all‑cash acquisition of U.S. biotech Day One Biopharmaceuticals. The tender offer prices Day One shares at $21.50, a 68.23% premium, equating to 8.34 times the company’s sales. Servier will fund the transaction with existing cash and...
Royal Cup Coffee and Tea to Acquire Farmer Bros. For $89.62 Million in Cash
Royal Cup Coffee and Tea announced a cash acquisition of Farmer Bros. Co. for $89.62 million, paying $1.29 per share—a 13.42% discount to the prior close. The transaction values Farmer Bros. at roughly 16.66 times EBITDA. The deal, advised by North...
InsideArbitrage Event Driven Monitor – March 3, 2026
The March 3 2026 InsideArbitrage Event‑Driven Monitor reports a flurry of high‑profile M&A activity, including Global Infrastructure Partners and EQT’s $33.4 billion acquisition of AES at a 13.2% discount and a co‑founder‑led consortium’s $3.9 billion purchase of Select Medical at a 10% premium. Pending...
Co-Founder Robert Ortenzio-Led Consortium to Take Select Medical Private for $3.9 Billion
Select Medical Holdings agreed to be taken private for $3.9 billion by a consortium led by co‑founder Robert Ortenzio, senior executive Martin Jackson, and private‑equity firm WCAS. The deal offers $16.5 in cash per share, a 10% premium to the prior...
Finding Value in Numbers With Ehsan Ehsani – The Special Situations Report Episode 56
Episode 56 of the Special Situations Report features Ehsan Ehsani, executive director at Crescendo Partners and Columbia Business School adjunct, promoting his new book "Finding Value in Numbers." The interview delves into quantitative investing tools, the Kelly Criterion for portfolio...
InsideArbitrage Special Situations Newsletter: March 2026
InsideArbitrage’s March 2026 Special Situations newsletter warns of a continuing "Software Nuclear Winter" in the SaaS sector, describing deep valuation pressure and market disruption. The firm recently acquired SaaS company Navan (NAVN) and highlights another discounted SaaS opportunity, suggesting the...
Paramount Skydance to Acquire Warner Bros. Discovery in a $110 Billion Deal
Paramount Skydance Corp. announced a $110 billion agreement to acquire Warner Bros. Discovery, offering $31 per share—a 10.05% premium. The transaction is financed by $47 billion in equity backed by the Ellison family and RedBird Capital, plus $54 billion of new debt from...
CECO Environmental to Acquire Thermon Group for $2.2 Billion
CECO Environmental Corp. announced a $2.2 billion merger agreement to acquire Thermon Group Holdings, offering shareholders a choice of mixed cash‑stock, all‑cash, or all‑stock consideration. The all‑cash option represents a 28.37% premium over Thermon's last closing price, valuing the target at...
GCI Liberty and John Malone’s M&A Play with Chris Waller – The Special Situations Report Episode 55
Episode 55 of the Special Situations Report features Chris Waller discussing GCI Liberty, a broadband provider serving remote Alaskan communities. The conversation traces GCI's origins as a spinoff from John Malone’s Liberty Media empire and examines its core fiber infrastructure....
Stanley Martin Homes to Acquire United Homes Group for $221 Million
Stanley Martin Homes announced a merger agreement to acquire United Homes Group for $221 million. United Homes shareholders will be paid $1.18 per share in cash, a 50.42% discount to the stock’s last close. The transaction is slated to close in...
Veris Residential to Be Acquired by Affinius Capital and Vista Hill Partners in a $3.4 Billion Deal
Veris Residential announced a $3.4 billion cash acquisition by a consortium led by Affinius Capital and Vista Hill Partners. Shareholders will receive $19 per share, a 13.3% premium, while common partnership units are paid the same amount. The deal, priced at...