InsideArbitrage Event Driven Monitor – November 15, 2022

  • November 15, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Opiant Pharmaceuticals (OPNT) to be acquired by Indivior (LON: INDV) for $49.16 million. Under the terms of the agreement, shareholders of Opiant Pharmaceuticals will receive $20.00 per share in cash plus up to $8.00 per share in contingent value rights that may become payable in the event that certain net revenue milestones are achieved by Opiant’s lead asset (OPNT003) during the relevant seven-year period. Shareholders of ChannelAdvisor Corporation (ECOM) approved the company’s merger with CommerceHub at a special meeting of shareholders.  Archaea Energy (LFG) announced that the special meeting of stockholders will be on December 13, 2022. According to Reuters, activist investor Ancora Holdings Group said that Ritchie Bros Auctioneers’ (RBA) buyout deal for IAA Inc. (IAA) was a “poorly structured sweetheart deal” and it will push for better terms. According to Reuters, in its effort to win takeover approval, Rogers Communications (RCI) presented documents to a tribunal that show Canada’s second-largest telecom company Telus Corp attempted to sabotage Rogers’ deal to buy Shaw Communications (SJR). Activist investor Corvex Management exited its holdings in Zendesk (ZEN), according to the fund’s Q3 13F filing. Professional Holding (PFHD) announced that the special meeting of stockholders will be on December 15, 2022....

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