InsideArbitrage Event Driven Monitor – March 29, 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 Standard General filed suit against the Federal Communications Commission in the U.S. Court of Appeals for the District of Columbia Circuit, asking the court to order the FCC to stop its unprecedented treatment of Standard General’s acquisition of broadcast company TEGNA (TGNA), a deal which would create the largest minority-owned and female-led broadcasting company in U.S. history. According to Reuters, Japan’s antitrust watchdog said it did not expect a merger between Microsoft (MSFT) and Activision Blizzard (ATVI) to stifle competition, helping clear the way for the deal. Shareholders of Duck Creek Technologies (DCT) approved the company’s merger with Vista Equity Partners at a special meeting of shareholders. Luther Burbank Corporation (LBC) announced that the special meeting of stockholders will be on May 3, 2023. NuVasive (NUVA) announced that the special meeting of stockholders will be on April 27, 2023. TravelCenters of America (TA) confirmed that the Board of Directors previously reviewed and determined that the conditional, unsolicited and unfinanced proposal from ARKO Corp. (ARKO) to acquire TA is neither superior to the transaction TA previously agreed to with BP Products North...
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