InsideArbitrage Event Driven Monitor – October 24, 2023

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Merger Arbitrage

1. 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.
2. ESMT: EngageSmart to be acquired by Vista Equity Partners for $4 billion or $23 per share in cash.
3. 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.

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