Some highlights from this weekend’s Event Driven Monitor
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The Event of the Week
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Kuppy’s Tweet of the Week
Chart and Kliff Note of the Week
M&A Monitor: SLRN, a negative $350mil EV biopharma, is to be acquired by ALMS, another negative $22 mil EV, for ~$200 mil. Straight-up liquidation offers current shareholders at least twice as much benefit as the M&A. But who are we here to judge anyway? The merger spread is at 18%.
CVR Monitor: We are reading some reports here and there that the FNA / ZBH merger is a ‘done deal’. FNA provides orthopedic solutions for fracture fixation, ankle replacements, etc., and will be acquired for $13.0 in cash plus a CVR. Currently, the shares are trading at around $13.00 so you get a free look at the CVR that offers up to $1.0 per share. Worth looking at.
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Kuppy’s Event Driven Monitor scans over 20 corporate events for market moving information and distills them into our propietary “Kliff Notes.” One profitable trade should more than cover an annual subscription and access to the Event Driven chatroom!