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InsideArbitrage Event Driven Monitor – June 12, 2023

  • June 12, 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 KDNY: Chinook Therapeutics enters into an agreement to be acquired by Novartis AG for $40 per share in cash, with the potential to receive up to an additional $4 per share in cash through contingent value rights. HVBC: Citizens Financial Services (CZFS) announced that the exchange ratio for the pending merger HV Bancorp (HVBC) with and into CZFS has been finalized at 0.4040 shares of CZFS stock for each share of HVBC stock. CS: According to a memo seen by Bloomberg News, Credit Suisse Group (CS) Chief Executive Ulrich Koerner has indicated to employees that the bank’s takeover by UBS AG (UBS) will close on Monday. BGRY: Berkshire Grey (BGRY) and SoftBank filed their notice pursuant to Section 11 of the ICA (Investment Canada Act) on April 21, 2023, and received the ICA Clearance on June 6, 2023. 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 GBLI: Global Indemnity Group (GBLI) announced multiple parties...

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