InsideArbitrage Event Driven Monitor – November 18, 2022

Quick updates on the event-driven strategies we follow on InsideArbitrage.

Merger Arbitrage

1. Apollo Global Management (APO) completed the acquisition of Tenneco (TEN).
2. 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.
3. 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.

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