×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

InsideArbitrage Event Driven Monitor – October 31, 2022

  • October 31, 2022

Quick updates on the event-driven strategies we follow on InsideArbitrage.

Merger Arbitrage

  1. The European Commission issued its approval of the merger between Tenneco (TEN) and Apollo Global Management (APO) under the applicable provisions of the EU merger regulations.
  2. Flagstar (FBC) and New York Community Bancorp (NYCB) announced the receipt of the requisite approval of the Office of the Comptroller of the Currency to convert Flagstar Bank, FSB to a national bank to be known as Flagstar Bank and to merge New York Community Bank into Flagstar Bank. The companies also mutually agreed to extend their merger agreement from October 31, 2022, to December 31, 2022.
  3. The Board of Directors of Flagstar Bancorp (FBC) declared a special dividend of $2.50 per share. The dividend will be paid on November 17, 2022, to shareholders of record at the close of business on November 7, 2022.

Only plus or premium subscribers can access this post. Subscribe today.