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InsideArbitrage Event Driven Monitor – March 28, 2023

  • March 28, 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 Jounce Therapeutics (JNCE) to be acquired by Concentra Biosciences for -$123.48 million or $1.85 per share in cash plus a non-tradeable contingent value right . CVS Health (CVS) announced that it expects to complete its acquisition of Signify Health (SGFY) on or around March 29, 2023. ARKO Corp. (ARKO) issued a letter urging Travel Centers of America’s (TA) Board to seriously consider ARKO’s proposal to acquire TravelCenters and engage with, rather than exclude, ARKO in the sale process. Regal Rexnord Corporation (RRX) completed the acquisition of Altra Industrial Motion Corp. (AIMC). 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 Bill Ackman, a Director of diversified real estate company Howard Hughes Corp (HHC), purchased 23,872 shares at an average price of $74.85 totaling $1.79 million. These shares were acquired through Pershing Square Capital. Alexander Douglas, the Chief Executive Officer of food distribution company United Natural Foods Inc (UNFI), purchased 45,168 shares at an average price of $22.22 totaling $1 million....

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