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InsideArbitrage Event Driven Monitor – June 16, 2023

  • June 16, 2023
Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage NEX: The merger of equals between NexTier Oilfield Solutions Inc. (NEX) and Patterson-UTI Energy, Inc. (PTEN), with an enterprise value of approximately $5.4 billion. Under the terms of the all stock deal, NexTier shareholders will receive 0.7520 shares of Patterson-UTI common stock for each share of NexTier common stock owned. DCP: Phillips 66 (PSX) completes the acquisition of DCP Midstream. CVT: Blackstone completes the acquisition of Cvent Holding Corp. RTL: Orange Capital Ventures, LP, a New York-based investment firm, announced its intention to vote against the proposed merger of Global Net Lease (GNL) and Necessity Retail REIT (RTL). RADI: Radius Global Infrastructure (RADI) announced that its shareholders approved the previously announced arrangement agreement with EQT and Public Sector Pension Investment Board. 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 BAK: According to Bloomberg, Petrobras (PBR) is not considering proposing an offer to buy out Brazilian petrochemical maker Braskem SA (BAK). TIGO: Millicom (TIGO) announces that discussions with Apollo Global Management and Claure Group regarding a potential acquisition of...

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