InsideArbitrage Event Driven Monitor – December 20, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage Qumu Corporation (QUMU) to be acquired by Enghouse Systems for $6.69 million or $0.90 per share in cash. Benefitfocus (BNFT) announced that the special meeting of stockholders will be on January 20, 2023. Benefitfocus and Voya Financial (VOYA) filed certain required information with the Texas Department of Insurance on November 14, 2022 and November 18, 2022. The Texas Department of Insurance has completed its review of those submissions and has issued no objection determinations, thereby satisfying the requirements. F-star Therapeutics (FSTX) and invoX Pharma extended the tender offer to December 23, 2022, unless further extended. The expiration date is being extended in order to facilitate ongoing CFIUS review of the proposed transaction. Abiomed (ABMD) announced that the waiting period under the Austrian Cartel Act expired on December 16, 2022. Johnson & Johnson (JNJ) has obtained all regulatory approvals required under the Merger Agreement, and accordingly the Antitrust Clearance Condition has been satisfied. The transaction is expected to be completed on December 22, 2022. Standard General issued a statement regarding its pending acquisition of TEGNA (TGNA), stating that it has committed to waiving certain contractual rights it would have had as a result of the transaction. Bloomberg reported...
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