InsideArbitrage Event Driven Monitor – September 6, 2023

One of the more interesting deals, the acquisition of Black Knight by ICE finally closed 16 months after announcement. At one point during the journey, the deal had traded at a spread of over 54%. On the insider purchases front, with WTI crude oil futures approaching $90 per barrel, several energy company insiders stepped up to buy shares, especially in the midstream segment.

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Merger Arbitrage

1. NATI: China’s State Administration for Market Regulation approved Emerson Electric’s (EMR) planned purchase of National Instruments (NATI) on August 23, 2023.
2. CFMS: restor3d completed the acquisition of Conformis (CFMS).
3. BKI: Intercontinental Exchange (ICE) completed the acquisition of Black Knight (BKI).

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