InsideArbitrage Event Driven Monitor – March 14, 2023
Quick updates on the event driven strategies we follow on InsideArbitrage. Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage Provention Bio (PRVB) to be acquired by Sanofi (SNY) for $1.64 billion or $25 per share in cash. Seagen (SGEN) to be acquired by Pfizer (PFE) for $43 billion or $229 per share in cash. We added SGEN as a potential deal in the works on February 26, 2023. Momentive Global (MNTV) to be acquired by a consortium led by Symphony Technology Group for $1.5 billion or $9.46 per share in cash. We added MNTV as a potential deal in the works on October 19, 2022. Volta (VLTA) and Shell (SHEL) received the final regulatory approval required under article L.151-3 of the French Code Monétaire et Financier (the “French FDI law”) for Shell to complete its acquisition of Volta. David E. Ritchie, Co-Founder, Former Chairman and Director; and Russell C. Cmolik, Former President and Director of Ritchie Bros. Auctioneers Incorporated (RBA), released a letter to shareholders of Ritchie Bros speaking out against the merger with IAA, Inc. (IAA). Ritchie Bros responded stating that shareholders should look to the future, not the past. Cardiovascular Systems (CSII) and Abbott...
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