InsideArbitrage Event Driven Monitor – August 16, 2023

  • August 16, 2023
Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage TSEM: Intel Corporation (INTC) and Tower Semiconductor (TSEM) mutually terminated their merger agreement, due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement.​ In accordance with the terms of the merger agreement and in connection with its termination, Intel will pay a termination fee of $353 million to Tower. 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 X: Esmark majority owner and Chief Executive James Bouchard said in an interview that his steelmaker has cash for its $7.8 billion bid for U.S. Steel Corp (X) sitting in his bank account. GB: Silver Lake to explore the sale of tax-free shopping firm Global Blue (GB) – Reuters Insider Purchases OPCH: Harry M. Kraemer, a Director of medical care facilities company Option Care Health, Inc. (OPCH), purchased 55,000 shares at an average price of $34.63 totaling $1.90 million. Collin Smyser, the General Counsel & Corporate Secretary of the company also purchased 2,500 shares at an average price of $34.69...

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