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InsideArbitrage Event Driven Monitor – October 19, 2022

  • October 19, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage AVEO Oncology (AVEO) to be acquired by LG Chem for $440.99 million or $15.00 per share in cash. Akouos (AKUS) to be acquired by Eli Lilly and Company (LLY) for $248.84 million. Under the terms of the agreement, Lilly will acquire Akouos for a purchase price of $12.50 per share in cash plus one non-tradeable contingent value right per share (“CVR”) that entitles the holder to receive up to an additional $3.00 in cash, for a total consideration of up to $15.50 per share in cash without interest. Semtech Corporation (SMTC) and Sierra Wireless (SWIR) announced that each company has received a request for additional information and documentary material from the U.S. Department of Justice in connection with Semtech’s previously announced acquisition of Sierra Wireless. According to Reuters, a U.S. Senate antitrust panel is expected to announce as soon as Tuesday a hearing on the merger of grocery giants Kroger (KR) and Albertsons (ACI), signaling growing scrutiny of the deal. Shareholders of Zymergen (ZY) approved the company’s merger with Ginkgo Bioworks (DNA) at a special meeting of shareholders. Shareholders of iRobot Corporation (IRBT) approved the company’s merger with Amazon (AMZN) at a special meeting of shareholders. ChemoCentryx (CCXI) shareholders...

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