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InsideArbitrage Event Driven Monitor – December 6, 2022

  • December 6, 2022
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage The merger of Salisbury Bancorp (SAL) with NBT Bancorp (NBTB) for $204 million in an all stock deal. Under the terms of the agreement, shareholders of Salisbury Bancorp will receive 0.7450 shares of NBT common stock. Emclaire Financial (EMCF) and Farmers National Banc (FMNB) received regulatory approvals, including approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, necessary to complete their proposed merger. The Merger is expected to be completed in January of 2023.  F-star Therapeutics (FSTX) and invoX Pharma extended the expiration date for the tender offer to December 16, 2022. The Offer was previously set to expire on December 2, 2022. Orthofix Medical (OFIX) disclosed a revised unsolicited takeover indication of interest from two private equity firms for $24 a share, up from a previous offer of $23. The company also said that the SeaSpine (SPNE) merger transaction continues to be in the best interests of Orthofix and its holders. Deals in the Works HMI Capital Management, (which owns 4.8% of Coupa), stated in a letter to Coupa’s (COUP) board that it will not support a deal unless it is...

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