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InsideArbitrage Event Driven Monitor – October 24, 2023

  • October 24, 2023
Subscribe to receive our Event Driven Monitor by email every morning before the market opens. Merger Arbitrage HES: Hess Corporation (HES) to be acquired by Chevron Corporation (CVX) for $60 billion in an all-stock deal. Under the terms of the merger agreement, shareholders of Hess Corporation will receive 1.0250 shares of Chevron for each Hess share. ESMT: EngageSmart to be acquired by Vista Equity Partners for $4 billion or $23 per share in cash. NM: Navios Maritime Holdings Inc. to be acquired by N Logistics Holdings Corporation, a company controlled by the company’s Chairwoman and Chief Executive Officer, Angeliki Frangou for $862.71 million or $2.28 per share in cash. SCPL: The acquisition of SciPlay Corporation (SCPL) by Light & Wonder, Inc. (LNW) was completed on October 23, 2023. It took 76 days for this deal to be completed. ABCM: Abcam announced that independent proxy advisor, Glass Lewis, recommended that Abcam shareholders vote “FOR” Danaher Corporation’s (DHR) proposed acquisition of Abcam, ahead of its shareholder meetings on November 6, 2023. CEQP: Crestwood Equity Partners announced that independent proxy advisory firm Glass Lewis & Co. recommends that unitholders vote “FOR” the pending transaction with Energy Transfer (ET). PACW: PacWest Bancorp announced that the special meeting of shareholders will be held on...

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