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InsideArbitrage Event Driven Monitor – August 14, 2023

  • August 14, 2023
Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage CD: Chindata Group Holdings Limited (CD) by BCPE Chivalry Bidco Limited for $4.17 billion. Under the terms of the agreement, shareholders of Chindata Group Holdings Limited receive US$8.60 in cash without interest and net of any applicable withholding taxes and certain fees to the ADS depositary. SGTX: Eli Lilly and Company (LLY) completed the acquisition of Sigilon Therapeutics (SGTX). KDNY: Novartis AG (NVS) completed the acquisition of Chinook Therapeutics (KDNY). RETA: Reata Pharmaceuticals and Biogen (BIIB) filed their respective HSR Act notifications. FORG: Thoma Bravo extended its timing agreement for its planned acquisition of ForgeRock (FORG) to give the US Justice Department an additional week to decide whether to challenge the deal in court. You can check out new deals, all deal updates, and spreads on active deals in our Merger Arbitrage Tool for premium members here. Deals In The Works United States Steel Corporation (X) announced that its Board of Directors has decided to initiate a formal review process, to evaluate strategic alternatives after rejecting Cleveland-Cliff’s offer. Insider Purchases SRPT: Michael Andrew Chambers, a Director of commercial-stage biopharmaceutical company Sarepta Therapeutics, Inc. (SRPT), purchased 34,867 shares at an average price of...

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