InsideArbitrage Event Driven Monitor – July 4, 2023

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Merger Arbitrage

1. AJX: Great Ajax Corp. to be acquired by Ellington Financial (EFC) in an all stock deal. Under the terms of the agreement, Great Ajax common stock will be converted into 0.5308 shares of Ellington Financial common stock.
2. ATVI: The Competition Tribunal of South Africa confirmed that it has unconditionally approved Microsoft’s (MSFT) proposed acquisition of Activision Blizzard (ATVI).
3. KNX: Knight-Swift Transportation Holdings (KNX) completes the acquisition of U.S. Xpress Enterprises (USX).

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