InsideArbitrage Event Driven Monitor – November 16, 2022

  • November 16, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Abiomed (ABMD) and Johnson & Johnson (JNJ) each filed an HSR Notification with the FTC and the DOJ in connection with the purchase of shares in the offer and the merger, and the required waiting period will expire on December 7, 2022, unless earlier terminated by the FTC and the DOJ. Johnson & Johnson launched its tender offer for Abiomed; the offer will expire on December 13, 2022. CommerceHub completes the acquisition of ChannelAdvisor (ECOM). Cowen (COWN) announced that its stockholders approved the previously announced definitive agreement for Cowen to be acquired by TD Bank Group (TD). Broadcom (AVGO) filed a request for its planned acquisition of VMware (VMW) with the European antitrust regulator. Steel Partners (SPLP) terminated the merger deal with Steel Connect (STCN) after a majority of the parent’s outstanding shares failed to approve the agreement. 1Life Healthcare (ONEM) said that Amazon (AMZN) has agreed to provide it with up to $300M in financing. Insider Purchases Martin E. Franklin, a Director of specialty chemicals company Element Solutions Inc (ESI), purchased 902,000 shares at an average price of $19.07 totaling $17.20 million. Joe E. Kiani, the CEO and Chairman of the Board of medical devices company Masimo Corp. (MASI),...

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