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InsideArbitrage Event Driven Monitor – November 29, 2022

  • November 29, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Reuters reported that Senator Amy Klobuchar’s office has said in a statement that Kroger (KR) CEO Rodney McMullen and Albertsons’ (ACI) top executive, Vivek Sankaran, will face questions this week on plans for the two companies to merge. Thoma Bravo’s notification and report form with respect to its merger with ForgeRock (FORG) was withdrawn effective as of November 23, 2022, and it intends to refile on or about November 28, 2022. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), expired in connection with the previously announced proposed merger between Akouos (AKUS) and Eli Lilly and Company (LLY). Deal in the Works INDUS Realty Trust (INDT), a U.S.-based industrial/logistics REIT, announced it received an unsolicited, non-binding proposal from Centerbridge Partners, L.P.  to acquire 100% of the outstanding shares of the company’s common stock that Centerbridge does not already own for cash consideration of $65.00 per share. Insider Purchases Kelcy L. Warren, the Executive Chairman of oil & gas midstream company Energy Transfer LP (ET), purchased 1,300,000 shares at an average price of $12.39 totaling $16.11 million. Cathy G. Ackermann, a Director of regional bank SmartFinancial,...

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