InsideArbitrage Event Driven Monitor – February 28, 2023

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

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Merger Arbitrage

1. The merger of Broadmark Realty Capital (BRMK) with Ready Capital Corporation (RC) for $787 million in an all stock deal. Under the terms of the agreement, each share of Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock.
2. Focus Financial Partners (FOCS) to be acquired by Clayton, Dubilier & Rice, LLC and Stone Point Capital LLC for $7 billion or $53 per share in cash.
3. According to Reuters, Broadcom (AVGO) is set to receive an EU antitrust warning about the possible anti-competitive effects of its proposed bid for VMware (VMW) in the coming weeks.

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