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InsideArbitrage Event Driven Monitor – May 31, 2023

  • May 31, 2023

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

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Merger Arbitrage

  1. AAIC: Arlington Asset Investment (AAIC) to be acquired by Ellington Financial (EFC) for $135.28 million in an all-stock deal. Under the terms of the merger agreement, each share of Arlington common stock will be converted into 0.3619 shares of Ellington Financial common stock.
  2. GRNA: GreenLight Biosciences Holdings (GRNA) to be acquired by a group of buyers led by Fall Line Capital for $113.01 million or $0.30 per share in cash.
  3. ATVI: Microsoft’s (MSFT) deal to acquire Activision Blizzard (ATVI) received approval from South Korea’s antitrust regulator after the government agency said the merger was unlikely to negatively impact its domestic gaming market.

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