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InsideArbitrage Event Driven Monitor – October 21, 2022

  • October 21, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage CVS Health (CVS) & Signify Health (SGFY) received a request for additional information (the second request) from the Dept. of Justice in connection with the merger review. The waiting period applicable to the merger between ChannelAdvisor Corporation (ECOM) and CommerceHub under the HSR Act has expired. The merger is currently expected to close by November 16, 2022. Amgen (AMGN) completed the acquisition of ChemoCentryx (CCXI). Bloomberg reported that Biden administration officials are discussing whether the US should subject some of Elon Musk’s ventures to national security reviews, including the deal for Twitter (TWTR) and SpaceX’s Starlink satellite network. Reuters reported that Twitter (TWTR) clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by billionaire Elon Musk, after a media outlet reported that Musk is considering laying off as much as 75% of the company. Insider Purchases Tobi Lutke, the Director of cryptocurrency brokerage Coinbase Global (COIN), purchased 5,349 shares at an average price of $72.90 totaling $389,942. Beat Kahli, the Director of automotive and consumer electronics company VOXX International Corp (VOXX), purchased 25,000 shares at an average price of $7.22 totaling $180,500. Jeffrey E. Eberwein, the...

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