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InsideArbitrage Event Driven Monitor – July 6, 2023

  • July 6, 2023

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Merger Arbitrage

  1. AEL: American Equity Investment Life Holding Company to be acquired by Brookfield Reinsurance (BNRE) for $4.3 billion in a cash-plus stock deal. Under the terms of the agreement, each AEL shareholder will receive $55.00 per AEL share, consisting of $38.85 in cash and 0.49707 of a Brookfield Asset Management Ltd. (BAM) class A limited voting share.
  2. DSEY: Solenis completed the acquisition of Diversey Holdings.
  3. FRG: Franchise Group and members of the senior management team of Franchise Group led by Brian Kahn made the required filings under the HSR Act with the FTC and the DOJ on May 24, 2023, and the initial 30-day waiting period expired on June 23, 2023.

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