InsideArbitrage Event Driven Monitor – November 18, 2022

  • November 18, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Apollo Global Management (APO) completed the acquisition of Tenneco (TEN). Regal Rexnord Corporation (RRX) announced that it has completed the first phase of financing for its proposed acquisition of Altra Industrial Motion Corp. (AIMC), by successfully amending its credit agreement, and upsizing its revolver and an existing Term Loan, by $1.1 billion. Rio Tinto (RIO) cancelled an agreement with Turquoise Hill (TRQ) shareholders, Pentwater Capital and SailingStone Capital, who had publicly opposed the C$43/share sale agreed. Insider Purchases Patrick G. Ryan, the Chief Executive Officer of specialty insurance company Ryan Specialty Holdings, Inc. (RYAN), purchased 183,700 shares at an average price of $34.64 totaling $6.36 million. Michael D. Ohalleran, a Director of the company, also purchased 29,474 shares at an average price of $33.94 totaling $1 million. Wes Cummins, a Director of foil technology and sensors company Vishay Precision Group, Inc. (VPG), purchased 25,000 shares at an average price of $38.98 totaling $974,587. Jason Marc Adler, a Director of cannabinoid company Cronos Group Inc. (CRON), purchased 280,860 shares at an average price of $3.04 totaling $855,137. Michael Stubblefield, the CEO of business products and services company Avantor, Inc. (AVTR), purchased 15,000 shares at an...

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