InsideArbitrage Event Driven Monitor – July 3, 2023

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Merger Arbitrage

1. TCFC: Shore Bancshares (SHBI) completed the acquisition of The Community Financial Corporation (TCFC).
2. ATVI: According to Bloomberg, the FTC’s chances of holding up Microsoft’s (MSFT) $69 billion bid to buy Activision Blizzard (ATVI) appeared uncertain after a federal judge challenged the agency’s argument that the proposed transaction would hurt gamers.
3. DICE: Eli Lilly and Company (LLY) launched its tender offer to acquire DICE Therapeutics (DICE). The offer is expected to expire on July 28, 2023.

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