InsideArbitrage Event Driven Monitor – January 20, 2023

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

Merger Arbitrage

1. Concert Pharmaceuticals (CNCE) to be acquired by Sun Pharmaceutical Industries Limited for $254.4 million. Under the terms of the agreement, an upfront payment of $8.00 per share of common stock in cash plus a non-tradeable CVR, which entitles Concert stockholders to receive up to an additional $3.50 per share of common stock in cash, payable upon deuruxolitinib achieving certain net sales milestones within specified periods.
2. Independent proxy advisory firms ISS and Glass Lewis recommended O2Micro (OIIM) shareholders to vote “FOR” the proposed going private transaction.
3. Trean Insurance Group (TIG) and Altaris Capital Partners filed their preliminary proxy statement, in which they stated that they had made the filings required under the HSR Act on December 23, 2022.

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