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InsideArbitrage Event Driven Monitor – November 14, 2022

  • November 14, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Luther Burbank Corporation (LBC) to be acquired by Washington Federal (WAFD) for $654 million in an all-stock deal. Under the terms of the agreement, Luther Burbank shareholders will be entitled to receive 0.3353 shares of Washington Federal common stock for each share of Luther Burbank common stock they own. Deals In The Works M2 Capital Partners offered to buy  auto parts maker Superior Industries (SUP) for $160 million or $5.85 per superior share. Compañia Minera Kolpa, in conjunction with Arias Resource Capital and its affiliates, which are the largest shareholder of Sierra Metals Inc. (SMTS), announced the delivery of a new letter to the Board of Directors of Sierra highlighting certain key terms of the proposed business combination between Sierra and Kolpa Insider Purchases No form 4 filings because of the Veterans Day holiday last Friday. SPACs Alkaid Acquisition Corp. (ALKD) filed its S-1 for a $50 million IPO. Pono Capital Three (PTHR) filed its S-1 for a $100 million IPO. Stock Buyback Announcements Hilton Worldwide Holdings Inc. (HLT) authorized the repurchase of an additional $2.5 billion of common stock under the company’s existing stock repurchase program, bringing the total amount currently authorized for...

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