InsideArbitrage Event Driven Monitor – January 25, 2023
Quick updates on the event driven strategies we follow on InsideArbitrage. Merger Arbitrage Voya Financial (VOYA) completed the acquisition of Benefitfocus (BNFT). According to Reuters, a federal court in Canada will hear whether Rogers Communications (RCI) hotly contested bid for Shaw Communications (SJR) can go ahead or be blocked as recommended by the competition bureau. A Canadian court dismissed the appeal by the Commissioner of Competition in an effort to overturn an approval of Rogers Communications Inc’s (RCI) bid to buy Shaw Communications (SJR). Nuvei Corporation (NVEI) launched its tender offer for Paya Holdings (PAYA) which is expected to expire on February 21, 2023. Deals In The Works Rupert Murdoch withdrew a proposal to reunite News Corp (NWSA) and Fox Corp as the company is also exploring a sale of Move Inc, which operates the Realtor.com website, to CoStar Group, according to a regulatory filing. 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 William S. Demchak, the CEO and President of commercial bank PNC Financial Services Group Inc. (PNC), purchased 6,550 shares at an average price of $153.38 totaling $1 million. Dennis L. Brand, the CEO of regional bank...
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