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InsideArbitrage Event Driven Monitor – January 4, 2023

  • January 4, 2023
Quick updates on the event-driven strategies we follow on InsideArbitrage. Merger Arbitrage The acquisition of Horizon Global Corporation (HZN) by First Brands Group for $1.63 billion or $1.75 per share in cash. Shaw Communications (SJR) issued a statement in reaction to the decision of the Competition Tribunal, stating that it continues to engage with government officials to obtain the final regulatory approval. Viatris (VTRS) has completed the acquisition of Oyster Point Pharma (OYST). Deals In The Works German chemicals distributor Brenntag said it is ending talks with smaller U.S. rival Univar Solutions (UNVR) on a possible takeover, weeks after activist investor PrimeStone called on the company to consider a break-up instead. Bradley L. Radoff and Michael Torok, who own approximately 8.4% of the outstanding common stock of Sesen Bio (SESN) reiterated their intent to vote AGAINST the Company’s proposed merger with Carisma Therapeutics. A potential deal we added on August 8, 2022, Horizon Global Corporation (HZN) announced it has entered into a definitive merger agreement with First Brands Group. 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 Eric Andersen, a Director of biotechnology company Merrimack Pharmaceuticals, Inc. (MACK), purchased 259,936 shares...

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