InsideArbitrage Event Driven Monitor – October 6, 2022
Quick updates on all six event-driven strategies we follow on InsideArbitrage. Interesting insider purchase at Biohaven Spinco (BHVN) as discussed below. Merger Arbitrage Brazil’s antitrust regulator CADE approved Microsoft’s (MSFT) takeover of Activision (ATVI). Pfizer (PFE) has completed the acquisition of Global Blood Therapeutics (GBT). According to Reuters, Apollo Global Management (APO) and Sixth Street Partners, which had been looking to provide financing for Elon Musk’s proposed buyout of Twitter (TWTR), are no longer in talks with the billionaire entrepreneur. Independent proxy advisory firm Glass, Lewis recommended that Avalara (AVLR) shareholders vote against the company’s proposed sale to Vista Equity Partners. Deals In The Works Republic First Bancorp (FRBK) receives anticipated Nasdaq notice of delisting; plans to appeal determination. Insider Purchases John Childs, a Director of Pharmaceutical company Biohaven (BHVN), purchased 274,141 shares at an average price of $8.98 for a total value of $2.46 million. This purchase is interesting because Mr. Childs is buying the spinco that was spun out of Biohaven after its acquisition by Pfizer (PFE) closed earlier this week. Another Director also purchased shares on the open market a few weeks before the acquisition closed and I tweeted that purchase in August here. I discussed the Biohaven deal in a mid-month update for InsideArbitrage...
Only plus or premium subscribers can access this post. Subscribe today.
