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InsideArbitrage Event Driven Monitor – November 4, 2022

  • November 4, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. We are seeing a significant uptick in both insider buying and stock buyback announcements. I look forward to aggregating the data during the next few weekends to see if there are any signals in the aggregate data. Merger Arbitrage Shareholders of Hill International (HIL) approved the company’s merger with Global Infrastructure Solutions at a special meeting of shareholders. Nordson Corporation completed the acquisition of CyberOptics Corporation (CYBE). Axar Capital Management completed the acquisition of StoneMor (STON). According to Bloomberg, Justice Department officials are scrutinizing whether Standard General’s proposed purchase of broadcaster Tegna (TGNA) could lead to higher cable prices. According to Reuters, a state court in Washington has temporarily blocked Albertsons Companies (ACI) from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger (KR). Deal in the Works The top shareholder in Nano Dimension Ltd. (NNDM) has made a proposal to acquire the rest of the 3D printing company it doesn’t already own in a transaction that would value the company at roughly $995 million. American Axle & Manufacturing Holdings (AXL) a maker of drivetrain components, is attracting preliminary interest from suitors including Melrose Industries people familiar with the matter...

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