InsideArbitrage Event Driven Monitor – September 4, 2023

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Merger Arbitrage

1. HZNP: Horizon, Amgen (AMGN), the Bureau of Competition, and several state plaintiffs entered into an agreement containing a Consent Order which contains a proposed decision and order and resolves the FTC administrative case on August 30, 2023. On September 1, 2023, the FTC announced that it had accepted the Consent Agreement following a vote of the commissioners.
2. NEX: The merger of equals between NexTier Oilfield Solutions Inc. (NEX) and Patterson-UTI Energy, Inc. (PTEN) was completed on September 1, 2023.
3. DHC: Diversified Healthcare Trust (DHC) and Office Properties Income Trust (OPI) announced mutually agreed to terminate their previously announced merger agreement.

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