InsideArbitrage Event Driven Monitor – December 21, 2022

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

Merger Arbitrage

1. Ritchie Bros. Auctioneers Incorporated (RBA) and IAA, Inc. (IAA) announced expiration of the waiting period under the HSR Act and receipt of a no-action letter from the Canadian Commissioner of Competition. The parties have received all necessary regulatory clearance. The transaction is expected to close in the first half of 2023.
2. Shareholders of Professional Holding (PFHD) approved the company’s merger with Seacoast Banking Corporation of Florida (SBCF) at a special meeting of shareholders.
3. Taylor Maritime Investments Limited and Grindrod Shipping Holdings (GRIN) jointly announced the expiration of the subsequent offering period.

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