Merger Arbitrage
Live pending deals ranked by annualized spread
Updated Apr 14, 2026, 07:17 AM UTC
| Ticker | Target | Acquirer | Type | Target Px | Implied Value | Gross Spread | Ann. Spread | Days Left | Close Date |
|---|---|---|---|---|---|---|---|---|---|
PEN✓ | Penumbra, Inc. | Boston Scientific Corporation | mixed | $331.48 | $618.64 | 86.63% | 139.31% | 261 | Dec 31, 2026 |
ZIM✓ | ZIM Integrated Shipping Services Ltd | Hapag-Lloyd | cash | $26.53 | $35.00 | 31.93% | 47.33% | 261 | Dec 31, 2026 |
WBD✓ | Warner Bros. Discovery, Inc. | Paramount Skydance Corporation | cash | $27.39 | $31.00 | 13.18% | 30.66% | 169 | Sep 30, 2026 |
UNF✓ | UniFirst Corporation | Cintas Corporation | mixed | $259.73 | $290.62 | 11.90% | 27.47% | 169 | Sep 30, 2026 |
AAUC✓ | Allied Gold Corporation | Zijin Gold International Company Limited | cash | $43.60 | $44.00 | 0.92% | 23.16% | 16 | Apr 30, 2026 |
BHF✓ | Brighthouse Financial, Inc. | Aquarian Capital affiliate | cash | $61.30 | $70.00 | 14.19% | 20.39% | 261 | Dec 31, 2026 |
AXTA✓ | Axalta Coating Systems Ltd | Akzo Nobel N.V. | stock | $28.62 | $33.49 | 17.03% | 17.76% | 351 | Mar 31, 2027 |
FARM✓ | Farmer Bros. Co. | Royal Cup Coffee and Tea | cash | $1.25 | $1.29 | 3.20% | 16.10% | 77 | Jun 30, 2026 |
NSC✓ | Norfolk Southern Corporation | Union Pacific Corporation | mixed | $297.56 | $340.16 | 14.32% | 14.93% | 351 | Mar 31, 2027 |
CTLP✓ | Cantaloupe, Inc. | 365 Retail Markets, LLC | cash | $10.89 | $11.20 | 2.85% | 14.23% | 77 | Jun 30, 2026 |
TECK✓ | Teck Resources Limited Class B | Anglo American plc | stock | $57.40 | $64.70 | 12.71% | 13.25% | 351 | Mar 31, 2027 |
NSR✓ | National Storage REIT | Brookfield-GIC consortium | cash | $2.79 | $2.86 | 2.51% | 12.46% | 77 | Jun 30, 2026 |
SKYT✓ | SkyWater Technology, Inc. | IonQ, Inc. | mixed | $29.10 | $30.67 | 5.39% | 12.01% | 169 | Sep 30, 2026 |
CWAN✓ | Clearwater Analytics Holdings, Inc. | Permira / Warburg Pincus (consortium) | cash | $24.05 | $24.55 | 2.08% | 10.25% | 77 | Jun 30, 2026 |
QRVO✓ | Qorvo, Inc. | Skyworks Solutions, Inc. | mixed | $79.77 | $86.74 | 8.74% | 9.10% | 351 | Mar 31, 2027 |
PRA✓ | ProAssurance Corporation | The Doctors Company | cash | $24.59 | $25.00 | 1.67% | 8.15% | 77 | Jun 30, 2026 |
EA✓ | Electronic Arts Inc. | PIF / Silver Lake / Affinity Partners | cash | $202.56 | $210.00 | 3.67% | 8.10% | 169 | Sep 30, 2026 |
SLAB✓ | Silicon Laboratories Inc. | Texas Instruments Incorporated | cash | $211.32 | $231.00 | 9.31% | 7.63% | 442 | Jun 30, 2027 |
3593✓ | Hogy Medical Co., Ltd. | TCG2509 Co., Ltd. | cash | $6660.00 | $6700.00 | 0.60% | 7.30% | 31 | May 15, 2026 |
FORA✓ | Forian Inc. | Consortium led by CEO Max Wygod | cash | $2.14 | $2.17 | 1.40% | 6.82% | 77 | Jun 30, 2026 |
AFBI✓ | Affinity Bancshares, Inc. | Fidelity BancShares (N.C.), Inc. | cash | $22.37 | $23.00 | 2.82% | 6.18% | 169 | Sep 30, 2026 |
AES✓ | The AES Corporation | Global Infrastructure Partners and EQT Infrastructure VI fund (with CalPERS and QIA as co-underwriters) | cash | $14.40 | $15.00 | 4.17% | 5.87% | 261 | Dec 31, 2026 |
TXNM✓ | TXNM Energy, Inc. | Blackstone Infrastructure | cash | $59.08 | $61.25 | 3.67% | 5.17% | 261 | Dec 31, 2026 |
GTLS✓ | Chart Industries, Inc. | Baker Hughes Company | cash | $207.82 | $210.00 | 1.05% | 5.07% | 77 | Jun 30, 2026 |
NATH✓ | Nathan's Famous, Inc. | Smithfield Foods, Inc. (SFD) | cash | $101.01 | $102.00 | 0.98% | 4.73% | 77 | Jun 30, 2026 |
CCO✓ | Clear Channel Outdoor Holdings, Inc. | Mubadala Capital and TWG Global | cash | $2.38 | $2.43 | 2.10% | 4.59% | 169 | Sep 30, 2026 |
IHS✓ | IHS Holding Limited | MTN Group Limited | cash | $8.25 | $8.50 | 3.03% | 4.26% | 261 | Dec 31, 2026 |
NWE✓ | NorthWestern Energy Group, Inc. | Black Hills Corporation | stock | $68.94 | $70.73 | 2.59% | 4.14% | 230 | Nov 30, 2026 |
UHG✓ | United Homes Group, Inc. | Stanley Martin Homes, LLC | cash | $1.17 | $1.18 | 0.85% | 4.12% | 77 | Jun 30, 2026 |
THR✓ | Thermon Group Holdings, Inc. | CECO Environmental Corp. | mixed | $55.27 | $55.73 | 0.84% | 4.03% | 77 | Jun 30, 2026 |
| InPost S.A. | FedEx and Advent-led consortium (with A&R Investments and PPF) | cash | $15.17 | $15.60 | 2.83% | 3.99% | 261 | Dec 31, 2026 | |
FFIC✓ | Flushing Financial Corporation | OceanFirst Financial Corp. | stock | $15.79 | $15.92 | 0.83% | 3.98% | 77 | Jun 30, 2026 |
WBS✓ | Webster Financial Corporation | Banco Santander, S.A. | mixed | $72.06 | $74.07 | 2.78% | 3.91% | 261 | Dec 31, 2026 |
DBRG✓ | DigitalBridge Group, Inc. Class A | SoftBank Group | cash | $15.57 | $16.00 | 2.76% | 3.88% | 261 | Dec 31, 2026 |
DHIL✓ | Diamond Hill Investment Group, Inc. | First Eagle Investments | cash | $171.98 | $175.00 | 1.76% | 3.83% | 169 | Sep 30, 2026 |
WTRG✓ | Essential Utilities, Inc. | American Water Works Company, Inc. | stock | $39.59 | $41.00 | 3.55% | 3.69% | 351 | Mar 31, 2027 |
TERN✓ | Terns Pharmaceuticals, Inc. | Merck & Co., Inc. | cash | $52.61 | $53.00 | 0.74% | 3.56% | 77 | Jun 30, 2026 |
BLN✓ | Blackline Safety Corp. | Francisco Partners | cash | $8.94 | $9.00 | 0.67% | 3.22% | 77 | Jun 30, 2026 |
SEM✓ | Select Medical Holdings Corporation | Co-founder-led consortium (Robert Ortenzio, Martin Jackson, and Welsh, Carson, Anderson & Stowe) | cash | $16.39 | $16.50 | 0.67% | 3.22% | 77 | Jun 30, 2026 |
SLNO✓ | Soleno Therapeutics, Inc. | Neurocrine Biosciences, Inc. | cash | $52.64 | $53.00 | 0.68% | 3.08% | 82 | Jul 5, 2026 |
KVUE✓ | Kenvue Inc. | Kimberly-Clark Corporation | mixed | $17.26 | $17.63 | 2.13% | 2.99% | 261 | Dec 31, 2026 |
VAL✓ | Valaris Limited | Transocean Ltd. | stock | $99.07 | $101.16 | 2.11% | 2.96% | 261 | Dec 31, 2026 |
TALK✓ | Talkspace, Inc. | Universal Health Services, Inc. | cash | $5.18 | $5.25 | 1.35% | 2.94% | 169 | Sep 30, 2026 |
OLPX✓ | Olaplex Holdings, Inc. | Henkel AG & Co. KGaA | cash | $2.02 | $2.06 | 1.98% | 2.78% | 261 | Dec 31, 2026 |
VRE✓ | Veris Residential, Inc. | Affinius Capital-led consortium (with Vista Hill Partners) | cash | $18.90 | $19.00 | 0.53% | 2.53% | 77 | Jun 30, 2026 |
SEMR✓ | SEMrush Holdings, Inc. Class A | Adobe Inc. | cash | $11.94 | $12.00 | 0.50% | 2.40% | 77 | Jun 30, 2026 |
KORE✓ | KORE Group Holdings, Inc. | Searchlight Capital Partners, L.P. and Abry Partners | cash | $9.16 | $9.25 | 0.98% | 2.13% | 169 | Sep 30, 2026 |
APLS✓ | Apellis Pharmaceuticals, Inc. | Biogen Inc. | cash | $40.84 | $41.00 | 0.39% | 1.87% | 77 | Jun 30, 2026 |
TPH✓ | Tri Pointe Homes, Inc | Sumitomo Forestry Co., Ltd. | cash | $46.83 | $47.00 | 0.36% | 1.73% | 77 | Jun 30, 2026 |
PKST✓ | Peakstone Realty Trust | Brookfield Asset Management | cash | $20.93 | $21.00 | 0.33% | 1.60% | 77 | Jun 30, 2026 |
50 deals · Ranked by annualized spread · ✓ = verified full terms