InsideArbitrage Event Driven Monitor – December 29, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage BP p.l.c. (BP) has completed the acquisition of Archaea Energy (LFG). The United Kingdom Competition and Markets Authority provided notice to UserTesting (USER) that it has no further questions on the merger at this time. The merger is expected to close in the first half of 2023. Seacoast (SBCF) and Professional (PFHD) announced that the mergers are expected to be completed on January 31, 2023. Resolute Forest Products (RFP) and The Paper Excellence Group jointly announced that the Canadian Commissioner of Competition has entered into a consent agreement regarding the parties’ business combination. The transaction remains on course to close in the first half of 2023. Brigham Minerals (MNRL) announced that the stockholders of the company voted in favor of all proposals necessary for the closing of the previously announced merger between Brigham and Sitio Royalties (STR). You can check out new deals, all deal updates and spreads on active deals in our Merger Arbitrage Tool for premium members here. Insider Purchases Richard Caring, a Director of the company that owns Soho Houses and The Ned in London, Membership Collective Group Inc. (MCG), purchased 200,000 shares at an average price of $3.60 totaling $719,960. Shah Capital Management, the...
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