InsideArbitrage Event Driven Monitor – December 5, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage According to the New York Post, a rift has emerged at the Federal Trade Commission over Microsoft’s (MSFT) deal to acquire Activision (ATVI) — potentially paving the way for the controversial mega-merger to get approved. Albertsons Companies (ACI) filed its preliminary proxy statement, stating that the parties filed their respective notification and report forms pursuant to the HSR Act with the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission on November 3, 2022. AVEO Oncology (AVEO) announced that the waiting period under the HSR Act expired with respect to the merger. Also on December 1, 2022, AVEO and LG Chem received a notice from CFIUS indicating that the joint voluntary notice submitted by AVEO and LG Chem on November 25, 2022, has been accepted for review, with December 1, 2022, constituting the first day of the 45-day initial review period, which will expire on January 17, 2023. Deals in the Works According to WSJ, Johnson & Johnson (JNJ) unit, Janssen Global Services said that it does not intend to make an offer for biotech company Horizon Therapeutics Plc (HZNP) According to Reuters, French drugmaker Sanofi said that if it...
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