InsideArbitrage Event Driven Monitor – May 19, 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 Urstadt Biddle Properties (UBP) to be acquired by Regency Centers Corporation (REG) for $1.4 billion in an all stock deal. Under the terms of the Agreement, Urstadt Biddle’s Class A common (UBA) and common (UBP) stockholders will receive 0.347 of a newly-issued REG share for each UBA or UBP share they own. Ranger Oil Corporation (ROCC) announced that the special meeting of stockholders will be on June 16, 2023. Kimball International (KBAL) announced that it expects to close the deal with HNI Corporation (HNI) on June 1, 2023. 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 Austin Russell, the Chairperson, President & CEO of autonomous driving company Luminar Technologies, Inc. (LAZR), purchased 791,113 shares at an average price of $6.12 totaling $4.84 million. Ann Fandozzi, the CEO of industrial equipment auctioneer Ritchie Bros Auctioneers Inc (RBA), purchased 18,522 shares at an average price of $54.06 totaling $1 million. Robert George Elton, a Director of the company, also purchased 1,471 shares at an...
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