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InsideArbitrage Event Driven Monitor – November 8, 2022

  • November 8, 2022

Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Mondays not only brought with it three new deals, we also saw a significant uptick in insider buying with insiders at 21 different companies meeting our criteria for inclusion.

Merger Arbitrage.

  1. The acquisition of IAA, Inc. (IAA) by Ritchie Bros. Auctioneers Incorporated (RBA) for $7.3 billion in a cash-plus stock deal. Under the terms of the merger agreement, IAA stockholders will receive $10.00 in cash and 0.5804 shares of Ritchie Bros. common stock for each share of IAA common stock they own.
  2. The merger of Velodyne Lidar (VLDR) and Ouster (OUST) in an all-stock deal. Under the terms of the agreement, each Velodyne share will be exchanged for 0.8204 shares of Ouster at closing
  3. The acquisition of Oyster Point Pharma (OYST) by Viatris (VTRS) for $281 million. Under the terms of the agreement, shareholders of Oyster Point Pharma will receive $11.00 per share in cash plus a contingent value right for a potential cash payment of up to $2.00 per share upon achievement of specified performance targets by Oyster Point Pharma for full year 2022.

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