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InsideArbitrage Event Driven Monitor – November 21, 2022

  • November 21, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Zendesk (ZEN) received written notice from CFIUS that it had concluded its review and cleared the transaction contemplated by the Merger Agreement. Tegna’s (TGNA) planned sale to Standard General received no objections from the National Telecommunications and Information Administration. Black Knight (BKI) announced that it has agreed to sell its TitlePoint line of business to Fidelity National Financial (FNF) for $225 million in cash. The sale of TitlePoint is not conditioned on the completion of Intercontinental Exchange’s (ICE) acquisition of Black Knight. Shareholders of Aerie Pharmaceuticals (AERI) approved the company’s merger with Alcon (ALC) at a special meeting of shareholders. Deal in the Works Ranger Oil Corp (ROCC) is exploring a potential sale as the south Texas oil and gas producer looks to capitalize on high energy prices to pursue strategic options, people familiar with the matter. Sculptor Capital Management (SCU) announced that its Board formed a special committee, comprised solely of independent directors, to explore potential interest from third parties in a transaction with the company that maximizes value for shareholders. Activist investor, Irenic Capital Management escalated its pressure on News Corp, (NWS) asking it to reconsider a proposal by Rupert Murdoch to combine the two parts...

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