InsideArbitrage Event Driven Monitor – May 11, 2023

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

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Merger Arbitrage

1. CTI BioPharma Corp. (CTIC) to be acquired by Swedish Orphan Biovitrum AB for $1.23 billion or $9.10 per share in cash.
2. Syneos Health (SYNH) to be acquired by a consortium of private investment firm affiliates composed of Elliott Investment Management, Patient Square Capital, and Veritas Capital for $7.1 billion or $43 per share in cash.
3. Franchise Group (FRG) to be acquired by members of the senior management team of Franchise Group led by CEO Brian Kahn for $2.6 billion or $30.00 per share in cash.

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