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InsideArbitrage Event Driven Monitor – December 14, 2022

  • December 14, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage BTRS Holdings (BTRS) announced that its stockholders voted to approve the definitive merger agreement with an affiliate of EQT X Fund. On December 13, 2022, Archaea Energy (LFG) announced that its stockholders voted to approve the definitive merger agreement with BP p.l.c. (BP). UserTesting (USER) announced that the  “go-shop” period expired on December 10, 2022. Brookline Bancorp (BRKL) and PCSB Financial Corporation (PCSB) announced that the deadline for stockholders of PCSB to elect the form of consideration that they wish to receive in PCSB’s pending merger with Brookline has been extended to December 20, 2022. According to Reuters, Microsoft (MSFT) President Brad Smith said that the company had offered to sign a legally-binding consent decree with the U.S. Federal Trade Commission to provide “Call of Duty” games to rivals including Sony and others for a decade. According to Reuters, the attorneys general of California, Illinois and Washington D.C., said they would appeal a federal court’s refusal to temporarily prevent Albertsons Companies (ACI) from paying a $4 billion dividend to shareholders. Bloomberg reported that Rogers Communications’ (RCI) deal with Shaw Communications (SJR) is crawling toward the finish line. The legal battle over deal will be settled within weeks, possibly days. Insider Purchases Anthony Noto,...

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