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InsideArbitrage Event Driven Monitor – November 28, 2022

  • November 28, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Turquoise Hill Resources (TRQ) announced that the Special Meeting will be held on December 9, 2022. Poshmark (POSH) announced that the special meeting of stockholders will be on December 27, 2022. The waiting period under the HSR Act expired on November 18, 2022. AVEO Oncology (AVEO) announced that the special meeting of stockholders will be on January 5, 2023. AVEO and LG Chem filed their respective HSR Act notifications on November 1, 2022 and delivered the draft joint voluntary notice to CFIUS on November 8, 2022. Deal in the Works Veris Residential (VRE) reinforced that the $16 per share bid from Kushner Companies undervalues the company. Insider Purchases Kelcy L. Warren, the Executive Chairman of oil & gas midstream company Energy Transfer LP (ET), purchased 500,000 shares at an average price of $12.36 totaling $6.18 million. Michael D. Eisner, a Director of holding company IAC Inc. (IAC), purchased 106,241 shares at an average price of $47.13 totaling $5 million. Patrick G. Ryan, the Chief Executive Officer of specialty insurance company Ryan Specialty Holdings, Inc. (RYAN), purchased 86,178 shares at an average price of $39.17 totaling $3.38 million. Jay Farner, the Chief Executive Officer of mortgage...

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