Special Situations · Risk Arbitrage

Merger Arbitrage

Live pending deals ranked by annualized spread. We track targets across cash, stock, mixed-consideration, and special-situation transactions.

Live · Updated May 31, 2026, 16:30 UTC·Sourced from public filings
Live Deals
50
pending deals tracked
Median Ann. Spread
7.22%
outlier (>500%) trimmed
Median Gross Spread
3.63%
across all tracked deals
Closing in 90d
13
expected near-term action

All deals

50 of 50
TickerTargetAcquirerTypeTarget PxImplied ValueGross SpreadAnn. SpreadDays LeftClose Date
AAUCAllied Gold CorporationZijin Gold International Company Limitedcash$34.90$44.0026.07%1,949.97%28dJun 28, 2026
GDOTGreen Dot Corporation Class ASmith Ventures LLC / CommerceOne Financial Corporationspecial$12.87$14.2310.57%239.46%30dJun 30, 2026
PENPenumbra, Inc.Boston Scientific Corporationmixed$318.30$561.0676.27%162.95%214dDec 31, 2026
SKYTSkyWater Technology, Inc.IonQ, Inc.mixed$38.98$52.9435.83%149.95%122dSep 30, 2026
IMXIInternational Money Express, Inc.The Western Union Companycash$14.97$16.006.88%124.70%30dJun 30, 2026
GSATGlobalstar, Inc.Amazon.com, Inc.mixed$84.21$90.006.88%124.57%30dJun 30, 2026
SSTKShutterstock, Inc.Getty Images Holdings, Inc.mixed$14.89$19.0427.85%108.56%122dSep 30, 2026
ZIMZIM Integrated Shipping Services LtdHapag-Lloydcash$23.49$35.0049.00%97.42%214dDec 31, 2026
BLDTopBuild Corp.QXO, Inc.mixed$417.48$505.0020.96%76.72%122dSep 30, 2026
PRAProAssurance CorporationThe Doctors Companycash$23.99$25.004.21%65.16%30dJun 30, 2026
WBDWarner Bros. Discovery, Inc.Paramount Skydance Corporationcash$27.01$31.0014.77%51.02%122dSep 30, 2026
AXTAAxalta Coating Systems LtdAkzo Nobel N.V.stock$30.77$42.9439.54%49.18%304dMar 31, 2027
UNFUniFirst CorporationCintas Corporationmixed$265.42$287.218.21%26.63%122dSep 30, 2026
BHFBrighthouse Financial, Inc.Aquarian Capital affiliatecash$62.55$70.0011.91%21.16%214dDec 31, 2026
NSCNorfolk Southern CorporationUnion Pacific Corporationmixed$304.96$351.4615.25%18.58%304dMar 31, 2027
IVGIveco Group NVTata Motors Limited (via TML CV Holdings PTE LTD)cash$13.92$14.101.29%16.92%30dJun 30, 2026
NATHNathan's Famous, Inc.Smithfield Foods, Inc. (SFD)cash$100.90$102.001.09%14.10%30dJun 30, 2026
GTLSChart Industries, Inc.Baker Hughes Companycash$207.82$210.001.05%13.54%30dJun 30, 2026
EAElectronic Arts Inc.PIF / Silver Lake / Affinity Partnerscash$201.72$210.004.10%12.79%122dSep 30, 2026
ELSEElectro-Sensors, Inc.steute Technologies GmbH & Co. KGcash$7.68$7.750.91%11.67%30dJun 30, 2026
CWANClearwater Analytics Holdings, Inc.Permira / Warburg Pincus (consortium)cash$24.34$24.550.86%11.02%30dJun 30, 2026
TECKTeck Resources Limited Class BAnglo American plcstock$66.16$72.169.07%10.98%304dMar 31, 2027
FSEAFirst Seacoast Bancorp, Inc.Cambridge Financial Group, Inc.cash$16.72$17.253.17%9.79%122dSep 30, 2026
BNCCBNCCORP, Inc.OppFi Inc.mixed$33.75$35.515.20%9.04%214dDec 31, 2026
STELStellar Bancorp, Inc.Prosperity Bancshares, Inc.mixed$37.34$37.590.66%8.30%30dJun 30, 2026
AFBIAffinity Bancshares, Inc.Fidelity BancShares (N.C.), Inc.cash$22.47$23.002.36%7.22%122dSep 30, 2026
JHGJanus Henderson Group plcTrian Fund Management, L.P. and General Catalystcash$51.71$52.000.56%7.04%30dJun 30, 2026
NSTSNSTS Bancorp, Inc.Brookfield Bancshares, Inc.cash$13.77$14.283.70%6.40%214dDec 31, 2026
CZRCaesars Entertainment, Inc.Fertitta Entertainment, Inc.cash$29.05$31.006.71%6.19%395dJun 30, 2027
OGNOrganon & Co.Sun Pharmaceutical Industries Limitedcash$13.34$14.004.95%5.97%304dMar 31, 2027
TXNMTXNM Energy, Inc.Blackstone Infrastructurecash$59.21$61.253.45%5.95%214dDec 31, 2026
MDVModiv Industrial, Inc.Global Net Lease, Inc.stock$18.16$18.511.90%5.80%122dSep 30, 2026
SLABSilicon Laboratories Inc.Texas Instruments Incorporatedcash$217.60$231.006.16%5.68%395dJun 30, 2027
FCR-UFirst Capital Real Estate Investment TrustKingSett Capital and Choice Properties REITmixed$23.50$24.263.23%5.56%214dDec 31, 2026
KVUEKenvue Inc.Kimberly-Clark Corporationmixed$17.28$17.772.86%4.93%214dDec 31, 2026
NATLNCR Atleos CorporationThe Brink’s Companymixed$44.60$46.373.97%4.79%304dMar 31, 2027
ALLFGAllfunds Group plcDeutsche Börse AGmixed$8.58$9.025.14%4.74%395dJun 30, 2027
RAMPLiveRamp Holdings, Inc.Publicis Groupe S.A.cash$37.56$38.502.50%4.31%214dDec 31, 2026
QRVOQorvo, Inc.Skyworks Solutions, Inc.mixed$103.56$107.243.55%4.28%304dMar 31, 2027
IHSIHS Holding LimitedMTN Group Limitedcash$8.30$8.502.41%4.14%214dDec 31, 2026
WBSWebster Financial CorporationBanco Santander, S.A.mixed$72.72$74.392.30%3.96%214dDec 31, 2026
DBRGDigitalBridge Group, Inc. Class ASoftBank Groupcash$15.64$16.002.30%3.96%214dDec 31, 2026
DDominion Energy, Inc.NextEra Energy, Inc.mixed$66.94$70.815.78%3.90%536dNov 18, 2027
AESThe AES CorporationGlobal Infrastructure Partners and EQT Infrastructure VI fund (with CalPERS and QIA as co-underwriters)cash$14.67$15.002.25%3.87%214dDec 31, 2026
CCRNCross Country Healthcare, Inc.Knox Lanecash$13.09$13.251.22%3.70%122dSep 30, 2026
TBRGTruBridge, Inc.Inventurus Knowledge Solutions, Inc.cash$25.96$26.251.12%3.38%122dSep 30, 2026
ASRTAssertio Holdings, Inc.Zydus Worldwide DMCCcash$23.44$23.500.26%3.16%30dJun 30, 2026
VALValaris LimitedTransocean Ltd.stock$92.63$94.301.81%3.10%214dDec 31, 2026
GBTGGlobal Business Travel Group, Inc.Long Lake Management Holdings, Inc.cash$9.34$9.501.71%2.94%214dDec 31, 2026
ORLAOrla Mining Ltd.Equinox Gold Corp.mixed$13.41$13.540.97%2.93%122dSep 30, 2026
Ann. Spread Tiers< 4% tight4–8% watch8–15% mid≥ 15% high
✓ = verified full terms · spreads computed on last close