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InsideArbitrage Event Driven Monitor – December 15, 2022

  • December 15, 2022

Quick updates on the event-driven strategies we follow on InsideArbitrage.

Merger Arbitrage

  1. Malvern Bancorp (MLVF) to be acquired by First Bank (FRBA) for $149.5 million in a cash plus stock deal. Under the terms of the agreement, shareholders will receive 0.7733 shares of First Bank common stock and $7.80 in cash per each Malvern Bancorp, Inc. common share outstanding.
  2. The merger of The Community Financial Corporation (TCFC) and Shore Bancshares (SHBI) for $254.4 million in an all stock merger of equals. Under the terms of the definitive agreement, holders of TCFC common stock will have the right to receive 2.3287 shares of Shore common stock.
  3. Johnson & Johnson (JNJ) announced that Athos Merger Sub, has extended the expiration date of its offer to acquire all of the outstanding shares of common stock of Abiomed (ABMD) from December 13, 2022 to December 21, 2022.

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