InsideArbitrage Event Driven Monitor – March 16, 2023

  • March 16, 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 Pursuant to the HSR Act, Aerojet Rocketdyne Holdings (AJRD) and L3Harris (LHX) each received a request for additional information and documentary material, “Second Request,” from the FTC. Biosynex SA announced that it has extended its tender offer for Chembio Diagnostics (CEMI) from March 14, 2023, to March 28, 2023. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deal In The Works According to Bloomberg, First Republic Bank (FRC) the San Francisco-based lender is exploring strategic options including a sale. Insider Purchases Patrick G. Ryan, the CEO of specialty insurance company Ryan Specialty Holdings, Inc. (RYAN), purchased 208,100 shares at an average price of $37.39 totaling $7.78 million. Ben M. Brigham, the Executive Chairman and CEO of oil and gas logistics and services company Atlas Energy Solutions Inc. (AESI), purchased 280,000 shares at an average price of $18.00 totaling $5.04 million. The EVP of Sales and Marketing as well as a Director also purchased shares. Atlas Energy recently went public...

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