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InsideArbitrage Event Driven Monitor – May 23, 2023

  • May 23, 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 VectivBio Holding AG (VECT)  to be acquired by Ironwood Pharmaceuticals (IRWD) for $1 billion or $17 per share in cash. PDC Energy (PDCE) to be acquired by Chevron Corporation (CVX) for $7.6 billion in an all stock deal. Under the terms of the agreement, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. Greenhill & Co (GHL) to be acquired by Mizuho Financial Group (MFG) for $550 million or $15 per share in cash. TEGNA’s (TGNA) sale to Standard General was terminated after failing to win regulatory approval. Following the termination, TEGNA announced a $300 million accelerated share repurchase program and a 20 percent increase in its quarterly dividend. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deal in the works According to the 13D filing,  Concentra Biosciences offered to buy Atea Pharmaceuticals (AVIR) for $5.75 a share in cash Insider Purchases Keith M. Rosenbloom, a Director of diversified specialty and agricultural products company American Vanguard...

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