InsideArbitrage Event Driven Monitor – March 29, 2023

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

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Merger Arbitrage

1. 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.
2. 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.
3. Shareholders of Duck Creek Technologies (DCT) approved the company’s merger with Vista Equity Partners at a special meeting of shareholders.

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