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InsideArbitrage Event Driven Monitor – October 3, 2022

  • October 3, 2022
Quick updates on all six event-driven strategies we follow on InsideArbitrage. Merger Arbitrage An NYSE notice indicated that shareholders of Spirit Airlines (SAVE) of record on September 12 would be the only holders able to get a $2.50/share special dividend as part of the original agreement with JetBlue Airways Corporation (JBLU) from late July. The State Administration for Market Supervision (SAMR) disclosed that Atlas Air Worldwide (AAWW) and Apollo Global Management (APO) filed with SAMR under the simplified procedure. Third parties have until October 9, 2022, to object to the case being treated as simple. DuPont de Nemours (DD) and Rogers Corporation (ROG) announced that they have received all regulatory approvals required to consummate the merger except for approval, which remains pending, of the State Administration for Market Regulation of China. At the request of SAMR, DuPont recently withdrew and refiled with SAMR the notice of the parties’ planned merger. Microsoft (MSFT) filed its planned $69 billion purchase of Activision (ATVI) with the European antitrust authority. The authority set a provisional deadline of November 8, 2022, to make a decision on the transaction. FNOF Precious Honour Limited and Rim Peak Technology Limited to acquire O2Micro International Limited (OIIM) for $73.94 million in a ‘going-private’ transaction. Upon completion of the merger, shareholders of O2Micro...

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