InsideArbitrage Event Driven Monitor – September 11, 2023
We don’t often come across insider purchases at Broadcom Inc. (AVGO). A director who has been on the board since December 2016 picked up nearly $10 million worth of shares in a direct open market purchase. The last insider purchase at the company was in March 2022 and was tiny in comparison.
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Merger Arbitrage
- RTL: Shareholders of Necessity Retail REIT (RTL) approved three proposals that will allow Global Net Lease (GNL) to acquire the company.
- ACI: Kroger (KR) has agreed to sell 413 stores to C&S Wholesale Grocers in a divestiture designed to help win antitrust approval for its $24.6 billion merger with Albertsons (ACI).
- SURF: Coherus BioSciences (CHRS) completes the acquisition of Surface Oncology (SURF).
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